Jan 3, 2023

The beginning of every new year brings a host of predictions about what the future holds and this year seems to be offering up a bonanza of ideas thanks to the huge level of uncertainty coming out of the pandemic.

Will interest rates rise? That seems to be a definite, at least in the short term. Governments the world over have fallen into line on that and citizens like you and I will suffer higher mortgage costs, possible declining property values at least in the near term, and there may be job losses in conjunction with the rising interest rates.

But will that ease the tight labour market? We sure need people. I hear that all the time. The government is bringing in far greater numbers of immigrants. Will that include any marine techs? I doubt it! But the immigrant wave will need places to live and that will drive up housing prices. Rising real estate values generally help the more affluent. So, maybe more of them can buy a new boat. Bingo!

One thing I know for sure is that we plan to again hold our traditional NMMA Canada State of the Industry Breakfast at the Toronto Boat Show on Tuesday, January 24, 2023. I hope to see you there. I’m certain that you will get a lot out of the presentations by NMMA President Frank Hugelmeyer and also the keynote presentation by Wells Fargo economist Nick Bennenbroek.

Today’s highly political climate seems to be a great source of uncertainty but I’m sure you have heard the expression, “follow the money”. That’s why I’m looking forward to hearing from Wells Fargo’s Nick Bennenbroek.

Just being at the Toronto Boat Show again will tell us a lot about what’s happening with our peers and their businesses. I think the show will have a lot of new product this time!

Circling back to the need for more marine techs, I will be going to the ABYC Standards Week for my first time. This is where our industry establishes new standards for safety in critical areas like fuel systems, wiring and electrical and far more.  I’ll be reporting on the Standards Week sessions by attending some of the project Technical Committees and I’ll be attending another session with a large group of marine industry educators. I may report on that experience at the TIBS Breakfast.

If you are attending ABYC Standards Week, I hope you will stop me and say hello. I’m hoping to see many other Canadians at the sessions in New Orleans.

This marks the start of our seventeenth-year publishing Boating Industry Canada News Week. We are very proud of our track record and of the contribution we are making to the industry through things like our Career Opportunities section, our support of the Boating Industry Canada Employer of Choice Awards and other activities. But more than that, we really appreciate the unwavering support you have given us over the years. It’s been very gratifying and we always appreciate hearing from you if there is an idea or an issue you want to comment on.

I hope to see you at Standards Week and TIBS this month!

Andy Adams – Editor