NZ confident of buoyant marine industry

5:07 AM Sun 8 Mar 2009 GMT

'Ideally located on one of the world’s finest harbours, the Auckland International Boat Show 2009 attracts visitors from around the globe.' .

New Zealand's marine industry says large crowds at the annual boat show this weekend is proof that it is navigating the recession well.

More than 200 companies turned up for the show, and while some of them are hurting, others are defying the doom and gloom.

With everything from inflatable floating docks to jet powered kayaks on show, the crowds were giving a boost to the recession hit marine industry.

'I think this has been a welcome respite from all the doom and gloom over the past three months,' says Peter Busfield of the Marine Industry Association.

More than 10,000 people work in the boating sector. Some of those jobs have already gone, with luxury yacht maker Genesis closing last month. Mr Busfield admits demand for boats has dropped off, but says the industry is surviving.

'We like to say there's at least 70 percent of the market still there,' he says. 'That's why its important that we run these boat shows.'

That optimism was backed up by companies 3 News spoke today. Christchurch firm Hamilton Jet says the outlook is not totally grey.

The tight economic times have benefits for some. Companies that refit boats are reporting increased demand as people do up their vessels instead of buying new ones.

More at www.nzmarine.com

by NZ MIA

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