Dive Industry Market Report
The State of The Industry (SOTI): Scuba Diving Market Survey Report
The results of a survey on worldwide market trends in the scuba diving industry: dive certifications, scuba diving equipment sales & dive travel.
Darcy Kieran is the author of the reference book “Scuba Diving Industry Market Size & Statistics.”
Over the last two months, we conducted the first State of The Industry (SOTI) survey of the Dive Industry. We looked at 2022 results for dive certifications, scuba diving equipment sales, and dive travel compared to the prior year. We also surveyed expectations and forecasts for 2023.
Thanks to all those of you who participated. Considering the positive response and extensive participation, we intend to make it an annual survey to be executed in January.
State of The Dive Industry Market Study Participants
504 dive professionals participated in the market study, representing the following dive industry sector of activities:
- 219 Dive Centers (excluding dive resorts)
- 33 Dive Schools Only (e.g., University programs) or Dive Clubs
- 49 Dive Gear Manufacturers
- 16 Dive Training Agencies
- 151 Independent Instructors
- 20 Dive-Specialized Media (printed or digital)
The other 16 survey respondents were in categories for which, unfortunately, we did not receive enough answers to be able to report on them, including dive resorts and liveaboards, dive travel agencies, and dive operators on cruise ships — basically, the dive travel sector. Therefore, we will plan ways to get better participation from this dive business sector for SOTI 2024.
Scuba diving equipment manufacturers and dive training agencies reported on their worldwide results by region. Other survey participants were from the following regions:
- 38.4% U.S.A.
- 29.0% Western Europe
- 10.1% Canada
No other regions had enough survey participants for us to provide results for these regions. However, we will plan ways to get better participation from the rest of the world, especially Asia-Pacific, for SOTI 2024.
79.4% of survey participants were owners or co-owners of the business on which they reported, 11.5% were managers, and 9.2% were employees.
Over the next few weeks, we will provide results by sector and by region, but here is the overview of all participating dive businesses.
UPDATE 1: The report on trends in worldwide certifications by category and region is now available:
UPDATE 2: The report of worldwide trends in sales of dive gear by region and category is now available:
UPDATE 3: Local Dive Shops: Statistics & Economic Profile in USA & Europe. What does a local dive center look like nowadays? How much revenues come from scuba diving gear, training & travel? How many dive instructors per dive center? And so much more!
UPDATE 4: Independent Scuba Diving Instructors: Statistics & Economic Profile in USA & Europe. This new scuba diving industry market report brings more light to how independent instructors, specifically, operate.
UPDATE 5: Average Number of Dive Certifications Issued by Dive Centers & Independent Instructors in Europe & USA by Category. Dive Training Agencies Market Shares. Average Number of Annual Scuba Diving Certifications by Dive Centers and Independent Instructors in Europe & USA.
UPDATE 6: The Dive Industry-Specialized Media: How Are They Doing?
Subscribers, distribution, traffic, ad sales & profitability.
Dive Businesses Sales Results & Forecast
A quarter of participating dive businesses reported flat sales in 2022, and half reported growth. Optimism is in the air for 2023, with more positive forecasts than the 2022 results.
A note of warning: Since we are still recuperating from the crash the dive industry experienced during the COVID-19 pandemic, increases from 2021 to 2022 may be the result of “going back to normal” as opposed to fundamental growth.
We should also be mindful that there is generally a positivism bias in these industry-wide surveys because it is typically the most professionally-managed businesses that participate.
Dive Businesses Profitability
A business may experience revenue growth while profits are down for many reasons. And vice versa. Since, at the end of the day, business owners care about profits, we also asked SOTI dive survey respondents to report on the profitability of their business.
A third of participating dive businesses reported flat profitability results in 2022, and a bit less than half reported growth. Optimism is also in the air for 2023, with more positive forecasts than the 2022 results.
What Is the “Number One” Issue of Concern for Your Dive Business in 2023?
Among the many answers received to this open-ended question, we noted recurring themes represented by the following comments:
- Worldwide recession
- Supply chain
- Global reopening and travel
- Increasing flight costs
- Costs of fuel, accommodation & insurance have increased by 20% in 2022 and will further increase in 2023
- Continuing poor quality of students produced by online learning
- Low client retention rate
- Dive training agencies allowing their instructors to cut a lot of corners
- Low-priced courses vs. high-priced insurance & dive training agency fees
- Overwhelmed by escalating dive training agency costs
- PADI’s focus on non-training activities
- Dive conditions caused by climate change limit potential outings
- Our clients are 50+, which means they are aging out of the industry
- Lack of business training
- Equipment manufacturers operate with an outdated ideology of sales
- Supplier stability and integrity as they are desperate for sales and giving trade accounts to almost anyone
- More and more people only learn and dive abroad
How valuable would this survey of the dive industry be to you and your business if we were to produce it on an ongoing (annual) basis?
With the following answers and the high participation rate for this first SOTI dive industry market study, we will fine-tune it and re-run it in January 2024.
- 23.4% Very Much Valuable
- 61.3% Valuable
- 11.7% Not Valuable
- 3.7% Very Much Not Valuable
NEW: Announcing Market Viz Project (MVP) To Generate Scuba Diving Market Size Reports
The State Of The (dive) Industry (SOTI) survey provides us with decline, flat, or growth trends. But it doesn’t tell us the actual market size in dollars (or other currencies). So we are pushing out work further with the MVP project.
The SOTI and MVP studies are part of a series of dive industry surveys by the Business of Diving Institute in collaboration with InDepth Magazine with support from DAN Europe, Shearwater, GUE, and most importantly, YOU! Besides participating in this survey, please let us know if you would like to add your name to the official list of supporters.
Also from Darcy Kieran:
- Handbook: Your Career and/or Life as a Scuba Diving Instructor: How to Make a Good Living Out of Your Passion for Scuba Diving.
- Logbook: Advanced Scuba Diving Logbook with Checklists for certified scuba divers, divemasters & dive instructors.
- Handbook: Advanced Guide to SPF Scuba Diving for Scuba Divers, Divemasters & Dive Instructors: Develop Better Scuba Diving Skills, Dive Safer, Save Money & Have More Fun!
- Handbook: The Ultimate Beginner’s Guide To Scuba Diving: How to Increase Safety, Save Money & Have More Fun!
- Logbook: STARTER Scuba Diving Logbook with Checklists while getting your open water diver certification!
- Reference book: Scuba Diving Industry Market Reports, Data & Statistics.
Side note: During your surface intervals, have a look at my novels with a scuba diving twist, starting with “Mystery of The Blue Dragon” and “Shadows on Ocean Drive.”
You could help the dive industry by taking part in ongoing dive industry surveys. You will also find results from our past scuba diving market studies here.
Don’t be left out! Subscribe to Scubanomics: The Dive Industry Compass to be the first to know about new dive industry market data & insights. Otherwise, be our “dive business buddy” on LinkedIn, Facebook, and elsewhere.
What now? Have a look at the complete Scubanomics Table of Contents.
