Industry Analysis & Industry Trends
Floating to the surface
The industry will perform steadily over the next five years, with modest revenue growth and stable demand. Since the industry's main customers are younger professionals, the rising unemployment rate hurt its performance during the past five years. However, improved employment, spending and travel rates will spur revenue growth over the next five years. Consumers will engage in relatively expensive leisure activities like scuba diving, bolstering demand for related instruction.... purchase to read more
Industry Report - Industry Analysis Chapter
The Scuba Diving Instruction industry is resurfacing after a deep dive during the recession in response to slowed spending and a pause in travel. Scuba diving is a discretionary sport, so when per capita disposable income sank 3.2% in 2009, spending on scuba contracted drastically. Making matters worse, domestic and inbound travel dropped 5.1% and 5.2%, respectively, while the unemployment rate shot up 60.3% in 2009. As scuba diving classes shrank, revenue contracted at a 2.1% annualized pace to $459.2 million during the five years to 2012. However, a 3.5% rebound is expected in 2012 as disposable income and travel pick up. In particular, a weak US dollar has stymied an influx of foreign tourists, with the number of inbound visits picking up at a 3.5% annualized rate since 2007. The... purchase to read more