Reuters reported today that attendance at the New York National Boat Show dropped significantly this year. The event, which started Saturday and continues through December 21 at the Jacob Javits Center, failed to bring in big crowds its opening weekend, and vendors seem to be unanimously blaming the economy.
A decrease in disposable income, tight credit (banks offering boat loans fell 75 percent from years past), and a general reluctance about the market means people are buying fewer boats—50 percent fewer according to one seller. That decision not to buy also extends to browsing.
Many of those who have shown up might just be focusing their attention on specific booths. Though the average boater earns less than $100,000 a year, the boat show also hosts niche sellers catering to a higher tax bracket. Vendors showing off yachts with million dollar pricetags claim sales haven't changed for them at all in the past year.
