The Wealthy are getting frugal
Twice a year, every year in the past, you could count on boats along the intercoastal waterway moving south for the winter and again north for the summer.  This included motor yachts, sailboats, pocket cruisers and even center console fishing boats seeking out the best weather conditions, regardless of the season.  This tradition has been repeated many times over and Amelia Island is a popular stop for these transient boaters.  Being the first port in Florida or the last one before entering Georgia, Amelia Island has deep water, a wide channel, lots of dock-age (over 1800’ of breakwater), fuel, lounge and laundry facilities, great shopping, restaurants and much more.
Anyone circling downtown late in the afternoons could witness dozens of yachts and small vessels angling for the fuel dock and making preparations to tie up for the evening.
Boats, unlike cars, require constant upkeep and maintenance and the larger vessels are usually owned by more affluent individuals who keep the trend of moving their boats each year.  This year however is a far different story; the once bustling docks are now sparsely filled with boats, the fuel dock for the most part sits dormant with few indicators that things will change anytime in the near future for our marine traffic.  So what happened?  Is it the economy catching up with the wealthy?  Could it be a change in the cruising habits of today’s boaters.
Recent reports show that boat sales are down some 40%, making one think that it has to be the economy. Large motor vessels and mega yacht orders however, are at an all-time high and new boaters coming into the market continues to hold steady.  Northern winters are still cold and South Florida summers are still hot, neither being especially conducive to boating or for that matter storing a boat.
Knowing what I do about boats and the habits of yacht owners, I believe it‚Äôs a little more complicated than the black and white answer; it’s the economy.
Yachting is very much alive and well and actively going on everyday.  New boats are being built; older vessels are being refitted all vying for that “ Palm Beach ” status; little has changed in this department.  However what has changed is the priorities of boat owners and how to apply the overall budgets for their boats.  Visiting their favorite cruising grounds in the Bahamas may be more important than sending their boat south for the winter.  Perhaps laying over a few months in a particular port, rather than moving the boat makes more financial sense, saving funds for more essential trips.  Actions such as these are to be  expected even in the world of yachting, but what is disheartening is the fact, that this may well become the new trend in boating.  And that would not fare well for our newly renovated beautiful marina facilities in Fernandina Beach. Maybe we should start looking at a different boating market segment because it looks that even the mega wealthy are feeling the pinch and addressing their habits.
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