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Calculated Risk
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Calculated Risk: Q2 2021 GDP Details on Residential and Commercial Real Estate
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Over the past year, pandemic-related shutdowns inspired Americans to head outdoors to find open, safe places to relax and exercise in record numbers.
In 2020, 7.1 million more people headed outdoors, and overall participation in outdoor recreation surpassed 52% for the first time on record, according to the Outdoor Industry Association (OIA). Among the most popular activities was fishing, which drew higher numbers of participants across multiple age, race, and gender groups.
The surge in outdoor participation undoubtedly provided a boost to the outdoor recreation industry that was already booming before the pandemic hit. In 2012, the industry contributed about $350 billion to the U.S. economy. Heading into 2020, that contribution jumped to more than $450 billion. And with consumers heading outside in record numbers over the past year, the industry’s contribution to the economy is likely to grow.
U S economy exceeds pre-pandemic level
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