When the recession swept across America, the campground and RV park industry saw declines in revenue, but research firm IBISWorld estimates the industry is on a path to recovery. Back in 2007, RV travel companies and campgrounds took a hit financially, as people began to cut back on extraneous expenditures like vacations.
"As the recession deepened and unemployment rose, falling domestic travel and the shrinking number of international arrivals into the United States adversely affected the industry," said IBISWorld analyst Radia Amari.
The economic outlook remained bleak until 2010, when the nation's economy began to recover. As consumer confidence began to grow, more people were willing to take vacations and embark on RV travel. From 2010 to 2011, the industry saw a 2.4 percent improvement in revenue, and IBISWorld experts believe this upward trend will continue into 2012.
"This growth is expected to completely offset the declines experienced between 2007 and 2009," said Amari.
People have begun traveling again, and RV dealerships have experienced sales growth as well. The research agency reports 2010 saw a 16.6 percent spike in sales and will likely see another 5.1 percent boost in 2012.