All eyes are on Golden Coast as the company prepares to release the findings of its annual Wet Leisure Industry Survey. Now in its 13th year, the annual Wet Leisure Industry Survey provides a unique insight into the highs and lows of the previous 12 months.
“Whether you’re a distributor, installer or an engineer, and from companies big and small, the more feedback and data we can gather, the more informed the whole industry can be,” says Adam Clark, General Manager at Golden Coast, now part of the PPG group of companies.
“Knowledge is power regardless of what sector you work in,” Adam emphasises. “Other industries and markets have facts, figures and statistics that are available to all and they help people make better decisions and grow better businesses. We should be the same,” he adds. The first Wet Leisure Industry Survey took place in 2011 and, year-on- year, the subsequent report has provided a valuable benchmark for pool, spa and wellness businesses.
“Products that support health and wellbeing became of huge importance back in 2020 and this has seen sustained in recent years, which is great for our industry,” says Adam. “Regardless of whether customers sought out pools or spas, the trend we are seeing is the high customer demand for quality installations, and a requirement for technology that will make ownership and maintenance easier and more eco-efficient.”
The pool, spa and wellness markets have ridden a tsunami wave of challenges in recent years from BREXIT, to COVID, and from logistical problems to increases in manufacturing costs. Figures are expected to show a steady rise in new orders despite challenges of squeezed credit supply and stock shortages. Many companies are taking the cautious approach and picking and choosing which projects to tender for.
Although material prices were 1.1% lower in Q3 compared with Q2, wage pressures and skills shortages are still prevalent. Although rising inflation looks to have flattened out. “2024 looks like it will be another tricky 12 months with many reporting it is harder to secure credit,” Adam reflects.
“Higher borrowing costs are having a significant impact on companies, who are still challenged by a lack of suitable qualified trades in many specialist areas. “We hope the latest report is of interest and value to readers working within the pool, spa and wellness industry, be they suppliers, manufacturers, distributors or installers,” says Adam.
This year’s report, as well as all previous years, can be viewed online at www.wetleisure.com
