“Why aren’t millennials buying boats?” – full report can be read on the Boat US website.
Even before starting Young & Salty, Robin and I had a bunch of questions about the state of millennial boating. Where were all the millennial sailors? Were there more or less young people owning boats today than 10 years ago? Why didn’t more of our young friends own boats?
Needless to say I was pretty excited when I got the opportunity to crunch some numbers and interview 50+ millennial boaters in a special report for Boat US magazine. In researching this article, there were some obvious finds, like that the #1 reason that millennials don’t own boats is financial cost. There were also some things that surprised me, like how the number of 20-39 year-old boat owner declined by 41% from 2005-2015. It was also interesting to see just how different the millennial mindset is when it comes to ownership in general. There seem to be lots of people finding a way out on the water while avoiding boat ownership altogether (e.g. boat shares, boat renting, borrowing mum and dad’s boat, etc.).
There were lots of other interesting findings but too much to list here, so head over to Boat US to read the full article.
As always, we love to hear from you. So if you have ideas for how Young & Salty can help grow the millennial sailing culture and community – give us a shout! Also, thanks to all of you Y&S readers who added your thoughts to the discussion on Facebook.
If you’re one of those millennials who thinks that boats are too expensive – check out our “Money” section, where we have lots of tips for saving money in boating: