The Growing Outdoor Recreation Industry Means Mountains of Opportunity for Entrepreneurs
Summer is almost here! After the long winter, I’m thinking about getting outside as much as possible, whether that means backcountry hiking or lounging by the pool. I’m ready to soak up some sun! And I know I’m not alone. To kick off the “let’s get outside” season, we’re focusing on entrepreneurs who work in countless different ways in the great outdoors. It’s hardly surprising so many businesses are built around outdoor experiences -- after all, the outdoor recreation (OR) industry is growing faster than the U.S. economy with huge opportunities for enterprising entrepreneurs.
For the first time in U.S. history, the state of the outdoor recreation industry was measured by the Bureau of Economic Analysis. Now an independent, government agency is tracking the economic contribution of activities like fishing, rock climbing and off-roading just as it measures the impact of construction, education and computer technology on our economy. Guess what? It turns out the impact is huge.
The OR industry employs more people than the computer technology and construction industries in the United States. That’s 7.6 million people whose jobs are tied directly or indirectly to people doing things outside. The industry makes up a whopping 2% of the total GDP of the U.S. and is growing at a rate of 3.8%. That’s faster than the overall U.S. economy rate of 2.8%!
Hikers, snowboarders, boaters, campers and even skateboarders all contribute to the economy when they spend time enjoying their favorite activity. The industry is growing at a healthy clip because each individual enthusiast helps support myriad related businesses. Consider the economic employment and economy impact of a single snowboarder on the industry: she needs to buy gear and lift tickets, which creates jobs for stores and mountain resorts (everything from merchandisers and sales people and to cooks, maintenance workers and lift mechanics), not to mention meteorologists and scientists to calculate weather and avalanche probability and medics on hand to treat injuries. All this business translates to real opportunity for the entrepreneur, too.
“Demand for advanced outdoor technical apparel, footwear and equipment drives innovation and entrepreneurism,” writes the Outdoor Industry Association in their latest outdoor recreation economy report. With this in mind, we’ll be talking to outdoor-minded entrepreneurs during the coming month to learn how they got into the business, what challenges they face and how they are capitalizing on the growing outdoor industry.
Coming up, we’ll find out about:
- An entrepreneurial family from the Black Hills of South Dakota who operates a year-round RV resort catering to off-road clientele
- A guiding company reaching out to diverse populations to get them outdoors
- Mountain guides and outdoor outfitters
- Outdoor camps for kids and adults
- Why the outdoor industry has some of the best product guarantees of any industry
- How entrepreneurs like you can benefit from spending time outside
And that’s just for starters!
As we dive into this season we hope that the long days and warm weather inspire you to get outside for a little recreation or even to just work al fresco. Let us know in the comments how you take your work outside in these warmer months. Happy summer to all!
Warmly,
Leslie