Marina research quantifies Covid-19 impacts
by Colin Bransgrove 22 Jul 23:49 PDT
The Marina Industries Association (MIA) has just released a report indicating an AU$48m reduction in Australian marina revenues over the three-month period March - May 2020. The data also indicates the negative impacts of the Covid-19 pandemic have been greatest in Queensland and Victoria. Club marinas have been most negatively impacted, followed by commercial marinas and then boat yards.
The most heavily impacted revenue generating areas of business were food and beverage (64% of all marinas) and marina wet berthing 52%. 89% of marinas experienced negative impacts during the survey period. 22% of marinas experienced some positive impacts however with demand for dry boat storage being the most significant area of increase at these marinas.
The research was conducted for the MIA by Dr Mahoney and his team at Michigan State University. One third of all Australia's 312 marinas fully completed the survey providing a very robust set of data. MIA President Andrew Chapman commented "the Australian marina industry has once again rallied to provide excellent data based on an enduring trust and appreciation of the work done for our industry by Dr Mahoney and team in Michigan".
Based in the survey results 239 marinas qualified for Federal governments Job Keeper payments with turnover dropping by at least 30%. Approximately one-third of marinas were forced to permanently retrench or reduce staff positions at their marinas totalling almost 600 positions nationally.
At the time of completing the survey in June, 70% of Australian marinas anticipated negative impacts would continue into the 2020/2021 financial year with an average estimated loss of profits of 20%.
The report entitled Impacts of the Covid-19 Pandemic on Australian Marinas is available for download from the resource centre within the MIA website.