RESTON, Va.--(BUSINESS WIRE)--There is a fundamental change happening in the way Americans travel, work, and live. More and more people are choosing RVs as their preferred option for travel as they prioritize spending time in the great outdoors and embracing the freedom that comes with RVing.
Just how much the RV industry has grown is captured in the new RVs Move America Economic Impact Study, released today by the RV Industry Association. The study revealed that the RV industry has an overall annual economic impact to the US economy of $140 billion, supporting nearly 680,000 jobs and paying more than $48 billion in wages. This is a 23% increase in economic output in just the past three years.
“More Americans than ever before have discovered RVing and the incredible physical and mental health benefits that come from living an active outdoor lifestyle,” said RV Industry Association President & CEO Craig Kirby. “The American-made RV industry is an essential part of the American economy that supports $140 billion in economic output and hundreds of thousands of well-paying jobs.”
The $140 billion total annual RV industry economic impact includes:
- $73.7 billion generated by RV manufacturers and suppliers
- $35.7 billion by RV campgrounds and related travel
- $30.5 billion by RV sales and service activities
In addition to the economic impact, the RV industry pay $13.6 billion in federal, state, and local taxes.
“Every resident in America benefits from the substantial tax revenue brought in by the RV industry,” continued Kirby. “Taxes that fund roads, bridges, education, and the parks and recreation areas our customers visit.”
The 65 million Americans who plan to go RVing this year contribute not only generally to the US economy, but to the entire outdoor recreation economy, which according to the US Department of Commerce’s Bureau of Economic Analysis represents 1.8 percent of the US Gross Domestic Product. Camping and hiking, and even boating and fishing, are often not just activities in themselves, but start and end with a destination reached in an RV.
The RVs Move America Economic Impact Study includes all companies involved in the manufacture, sale, rental, repair, storage, and service of RVs, as well as in the aftermarket industry, financing, and insurance of RV purchases. The economic impact of campgrounds and trip spending during RV travel is also captured in the report.
Not surprisingly, the greatest economic impact of the RV industry is felt in states with the presence of significant manufacturing facilities and robust RV sales. Indiana – where the RV manufacturing industry was founded – tops the list of states with its more than $38 billion in total economic activity, followed in order by California, Texas, Florida, Ohio, and New York. A total of 31 states each accounted for at least $1 billion in total economic activity.
The economic impact of each state and congressional district can be found at www.RVsMoveAmerica.org.
ABOUT RV Industry Association: With offices in Reston, Va. and Elkhart, Ind., the RV Industry Association is the leading trade voice of the $140 billion dollar RV industry, representing approximately 480 manufacturers and component and aftermarket suppliers who together produce 98 percent of all RVs made in the United States, and approximately 60 percent of RVs produced worldwide.
