Covid-19 Effects on Leisure Marine Industry: SWOT Analysis
Yacht Style contributors Mike Derrett & YP Loke have compiled a SWOT analysis of Covid-19?s effects on the leisure marine industry.
The post Covid-19 Effects on Leisure Marine Industry: SWOT Analysis appeared first on LUXUO.
STRENGTHS
? The propensity for consumers to return to boating after the Covid-19 pandemic is high. Downturns in the boating business over the past 50 years have shown that customers eventually come back, often with pent up demand.
? The trend to do things online with virtual replicas cannot replace the experience of boating. Humans are intrinsically social creatures and like to experience things first-hand with friends and colleagues; we need to meet people, celebrate and have fun ? these can only happen in the company of others in the natural environment. ? Asia, with its robust post-SARS 2002-04 epidemic health systems, may recover their economies first. However, the Asia boating market is a relatively small part of the global industry.
? Global banks have much stronger balance sheets than ahead of the 2008-09 Global Financial Crisis (GFC) and should be able to support the economic recovery.
? Builders of superyachts over 30m who are constructing client orders are generally in a secure position as clients are unlikely to cancel. Builders with speculative projects without a customer ? some 40 per cent of current builds ? will be less secure.
? The price of fuel for boat owners should reduce considerably.
? Material costs for resins and oil-...
The post Covid-19 Effects on Leisure Marine Industry: SWOT Analysis appeared first on LUXUO.
STRENGTHS
? The propensity for consumers to return to boating after the Covid-19 pandemic is high. Downturns in the boating business over the past 50 years have shown that customers eventually come back, often with pent up demand.
? The trend to do things online with virtual replicas cannot replace the experience of boating. Humans are intrinsically social creatures and like to experience things first-hand with friends and colleagues; we need to meet people, celebrate and have fun ? these can only happen in the company of others in the natural environment. ? Asia, with its robust post-SARS 2002-04 epidemic health systems, may recover their economies first. However, the Asia boating market is a relatively small part of the global industry.
? Global banks have much stronger balance sheets than ahead of the 2008-09 Global Financial Crisis (GFC) and should be able to support the economic recovery.
? Builders of superyachts over 30m who are constructing client orders are generally in a secure position as clients are unlikely to cancel. Builders with speculative projects without a customer ? some 40 per cent of current builds ? will be less secure.
? The price of fuel for boat owners should reduce considerably.
? Material costs for resins and oil-...
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