Market Report, "Boat Building in the US", Published
The industry had a tumultuous last five years, with falling disposable incomes causing demand for boats to plummet. Smoother sailing is on the horizon, however, as the economic recovery boosts consumer spending on luxury items like watercraft. Furthermore, growing demand for more advanced and custom-made boats will drive profit upward. Boat builders will increasingly target baby boomers, who are generally cash-rich and are nearing retirement, and therefore have the means and time to spend on boats.
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