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Tuesday, July 24, 2007
RVing Market Expected to Reach $15.9 Billion by 2011
A new report issued by market research publisher SBI notes that the RV market (motorized recreational vehicle and non-motorized, or "towable," RVs) is expected to pick up speed over the next five years, growing five percent and reaching $15.9 billion.
The recent Hurricane Katrina debacle with purchases of bare bones travel
trailers by FEMA, along with higher prices at the pump, and higher
interest rates were the main factors for the slowdown. "The real health
of the industry is directly affected by consumer confidence, interest
rates, and the cost of fuel," notes Tatjana Meerman, Publisher of SBI.
"A strong economy is the industry's best friend. When interest rates
rise, RV purchases decline." This is only partially true. There is a
thriving market for used RVs. We have owned several.
With all the
baby boomers retiring, I think the estimate given for the RVing market
is conservative, as baby boomers will want to travel and see the country
firsthand.
