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MacArthur boosts marine industry
LONDON, England (CNN) -- The UK leisure marine industry had its fourth consecutive year of revenue growth in 2002, boosted by the success of high-profile sailors like Ellen MacArthur and Ben Ainslie. Revenue rose 8.2 percent from 2001 to a record £1.743 billion ($2.8 billion), the British Marine Federation said on Thursday at the London Boat Show. The industry covers more than 3,000 companies that provide marine services around the world, including new and second-hand boats, insurance, holidays, safety equipment and clothing. The revenue increase comes despite a global economic downturn in many sectors. Exports were particularly high in 2002, growing by nearly 10 percent to £722.5 million ($1.16 billion), with a similar increase in the U.S. export market to £174.5 million. Employment in the industry increased in 2002 to 28,538 people, up 8.2 percent on 2001. "The high quality, design and innovation of the country's marine products is renowned the world over, enabling UK operators to achieve consistently good results, even in adverse conditions," said federation chief executive John Clarke. "The British leisure marine industry is going from strength to strength. The rising revenues and strong export figures make it an important industry to the country as a whole."
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