Colombia's Todomar dry storage facility in Cartagena de Indias

Colombia’s Todomar dry storage facility in Cartagena de Indias

The boating culture in South America has been growing at a steady pace, but the market hasn’t performed in the same fashion across the region.

Sales have been on a roller coaster for the last couple of years, and the instability is not as much from the economic climate as it is from the political environment.

Demand had been on the increase in most countries, but the trend changed in early 2012. Growth in Venezuela, Argentina and Brazil has either slowed down or plummeted as a result of tax increases and currency control policies.

On the positive side, however, marine products are selling well in Colombia, where the upward trend is fuelled by boat sales over 12m (40ft).

Note: This is an excerpt of South America’s marine market overview published in the June/July edition of IBI magazine. IBI Plus subscribers can download the full report from IBI Plus website.