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Mississippi MarketMaker

Vol. 16, No. 2 / Economic Trends in the Mississippi Charter Boats for Hire Industry

ABSTRACT 

  • Estimates of the economic impacts of the Mississippi charter boats-for-hire industry (MS-CBFH) were compiled from 2014 to 2023 on the NOAA Fisheries website, including sales, jobs, income, and value-added impacts. 
  • Graphical analysis was used to show the overall trends in economic impacts from 2014 to 2023.
  • Socioeconomic characteristics of the Mississippi charter boats for-hire industry (MS-CBFH) were compiled in 2020 and 2024 from the Lightcast website, including gender, race, and age. 

KEYWORDS 

  • Charter boats for-hire, sales, jobs, incomes, value-added socioeconomic characteristics. 

SUGGESTED CITATION 

CHARTER BOATS FOR-HIRE INDUSTRY

  • The charter boats for-hire (CBFH) are included in the NAICS code 487210 or "Scenic and Sightseeing Transportation, Water" in the North American Industrial Classification System.   
  • This industry comprises establishments primarily engaged in providing scenic and sightseeing transportation on water. 
  • The services provided are usually local and involve a same-day return to the place of origin. 

COMPONENTS OF ECONOMIC IMPACTS

  • The total economic impact is the sum of direct, indirect, and induced impacts.
  • Direct impacts express the economic impacts in the sector where the expenditure was initially made.  
  • Indirect impacts result from changes in the economic activity of other industrial sectors that supply goods or services to the sector being evaluated.
  • Induced impacts result from industry employees' personal consumption expenditures.

MEASURES OF ECONOMIC IMPACTS 

  • The four types of annual economic impacts are output or sales, jobs, income, and value-added. 
  • These impacts are not additive. Each type represents a specific economic activity reported.
  • Income, value-added, and output impacts are expressed in dollars for the year specified by the user.
  • Output or sales are the gross sales by businesses within the economic region affected by an activity.
  • Labor income includes personal income, such as wages and salaries, and proprietors' income (i.e., income from self-employment). 
  • Labor income consists of all forms of employment income, including employee compensation (wages, salaries, benefits), as well as proprietor income. 
  • Employment impacts are expressed as a mix of full-time and part-time jobs.
  • Value-added contribution measures an industry's contribution to the gross domestic product. It is the difference between an Industry's total output and the costs of its intermediate inputs.

ECONOMIC IMPACTS OF MISSISSIPPI CHARTER BOATS FOR-HIRE

  • The estimates of annual economic impacts of the MS-CBFH industry from 2014 to 2023 are shown in Fig. 1-4 
  • The economic impact indicators for the MS-CBFH industry have shown a steady decline since its peak in 2016. 
  • The MS-CBFH industry has not recovered from the combined effects of the 2019 disaster and the global pandemic, which started in March 2020. 

SALES IMPACTS OF MISSISSIPPI CHARTER BOATS FOR-HIRE

  • The MS-CBFH industry's sales impacts have shown a steady decline since their peak in 2016, reaching $19 million (Fig. 1). 
  • The MS-CBFH industry's sales impacts have not recovered from the combined effects of the 2019 disaster and the global pandemic, which began in March 2020. 
  • The sales impact of the MS-CBFH industry stood at less than $3 million since 2022. 

JOB IMPACTS OF MISSISSIPPI CHARTER BOATS FOR-HIRE 

  • The MS-CBFH industry job impacts have steadily declined since their peak in 2016, to 244 jobs (Fig. 2). 
  • The MS-CBFH industry's job impacts have not recovered from the combined effects of the 2019 disaster and the global pandemic, which began in March 2020. 
  • The MS-CBFH industry job impacts were about 33 jobs since 2022. 

INCOME IMPACTS OF MISSISSIPPI CHARTER BOATS FOR-HIRE

  • The MS-CBFH industry income impacts have shown a steady decline since their peak in 2016, exceeding $6 million (Fig. 3). 
  • The MS-CBFH industry's income impacts have not recovered from the combined effects of the 2019 disaster and the global pandemic, which began in March 2020. 
  • The income impact of the MS-CBFH industry reached about $1 million since 2022.

VALUE-ADDED IMPACTS OF MISSISSIPPI CHARTER BOATS FOR-HIRE

  • The MS-CBFH industry's value-added impacts have steadily declined since their peak in 2016, exceeding $10 million (Fig. 4). 
  • The MS-CBFH industry's value-added impacts have not recovered from the combined effects of the 2019 disaster and the global pandemic, which began in March 2020.
  • The MS-CBFH industry value-added impacts stood at about $1.6 million since 2022.

RECREATIONAL FISHING EFFORT OF MISSISSIPPI CHARTER BOATS FOR-HIRE

  • The annual fishing effort of the MS-CBFH industry averaged about 20,000 trips from 2014 to 2019, except for 2015, when it reached a peak of 42,000 trips (Fig. 5).
  • The MS-CBFH industry annual fishing effort fell significantly to about 9,000 trips in 2020 and averaged about 12,000 trips since 2021.

AVERAGE SALES IMPACTS OF MISSISSIPPI CHARTER BOATS FOR-HIRE 

  • The MS-CBFH industry sales impacts averaged less than $900 per trip from 2016 to 2021, except for 2017, when they reached a peak of $1,000 per trip (Fig. 6).
  • The MS-CBFH industry average sales impact has fallen significantly to about $250 per trip since 2022. 

MISSISSIPPI WATER SCENIC AND SIGHTSEEING TRANSPORTATION WORKERS AND OWNERS' DISTRIBUTION BY GENDER 

  • The majority of workers and owners in this industry are male (Fig. 7).
  • The percentage of males employed by this industry rose from 77.3% in 2020 to 79.2% in 2024. 
  • Fewer female workers and owners are employed by this industry, from 22.7% in 2020 to 20.8% in 2025.

MISSISSIPPI WATER SCENIC AND SIGHTSEEING TRANSPORTATION WORKERS AND OWNERS' DISTRIBUTION BY RACE.

  • The majority of workers and owners in this industry are White; the percentage fell from 85.9% in 2020 to 72.4% in 2024.
  • Hispanic workers and owners comprised 6.0% in 2020 and 12.2% in 2024.
  • Asian workers and owners rose from 3.6% in 2020 to 3.9% in 2024.
  • The remaining workers and owners in this industry are shown in Fig. 8.

MISSISSIPPI WATER SCENIC AND SIGHTSEEING TRANSPORTATION WORKERS AND OWNERS' DISTRIBUTION BY AGE GROUP.

  • Workers and owners aged 65 and above comprised 9.4% in 2020 and 13.5% in 2024.
  • Among 55-64-year-old workers and owners, there were 33.1% in 2020 and 27.1% in 2024. 
  • The 45-54-year-olds added 35.6% in 2020, and 14.2% in 2024.
  • The 35-44-year-olds consisted of 10.5% in 2020 and 17.5% in 2024.
  • The 25-34-year-olds accounted for 4.8% of all workers and owners employed in this industry in 2020 and 14.9% in 2024. 
  • The youngest workers and owners comprised the rest of the workforce in this industry (Fig. 9). 
  • The average age of workers and owners rose from 46.1 years old in 2020 to 46.3 years old in 2024 (Fig. 10). 

SUMMARY, LIMITATIONS, AND IMPLICATIONS 

  • The economic impact indicators for the MS-CBFH industry have shown a steady decline since its peak in 2016. 
  • The MS-CBFH industry has not recovered from the combined effects of the 2019 disaster and the global pandemic, which started in March 2020.
  • Similar trends were observed among the sales, jobs, income, and value-added impacts during the period under consideration.
  • The fishing effort of the MS-CBFH industry averaged about 20,000 trips from 2014 to 2019, except for 2015, when it reached a peak of 42,000 trips.
  • The MS-CBFH industry fishing effort fell significantly to about 9,000 trips in 2020 and averaged about 12,000 trips since 2021.
  • The MS-CBFH industry's sales impacts averaged less than $900 per trip from 2016 to 2021, except for 2017, when they reached $1,000 per trip. 
  • The MS-CBFH industry average sales impact has fallen significantly to about $250 per trip since 2022. 
  • The majority of workers and owners in this industry are male. The percentage of males employed by this industry rose from 77.3% in 2020 to 79.2% in 2024. 
  • The majority of workers and owners in this industry are White; the percentage fell from 85.9% in 2020 to 72.4% in 2024. 
  • Workers and owners aged 65 and above comprised 9.4% in 2020 and 13.5% in 2024.
  • Among 55-64-year-old workers and owners, there were 33.1% in 2020 and 27.1% in 2024. 
  • The 45-54-year-olds added 35.6% in 2020, and 14.2% in 2024. 
  • The average age of workers and owners rose from 46.1 in 2020 to 46.3 in 2024. 

ACKNOWLEDGEMENT 

  • This newsletter is a contribution of the Mississippi Agricultural and Forestry Experiment Station and the Mississippi State University Extension Service. 
  • This material is based on work supported in part by the National Institute of Food and Agriculture, US Department of Agriculture, Hatch project under accession number 100004. 
  • Any opinions, findings, conclusions, or recommendations expressed in this publication are those of the author and should not be construed to represent any official USDA or US Government determination or policy.

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Vol. 16, No. 2 / Economic Trends in the Mississippi Charter Boats for Hire Industry

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