Skiing Facilities NAICS 713920

Feb 23, 2026 - Tariffs, Inflation Slow Lift Growth

• The US ski industry returned to pre-Covid lift construction levels in 2025 as tariffs and inflation weighed on capital spending, according to a survey reported by Ski Area Management. North American resorts installed 37 new aerial lifts, with installed vertical transport feet per hour (VTFH) down 16% year over year, led by declines in the West and Canada. More than half of installations were fixed-grip lifts, while detachables fell to 18 from 25, bubbles to 1 from 4, and loading conveyors to 4 from 10, signaling a shift toward lower-cost, utilitarian investments. Tariffs added volatility and cost pressure: Canadian goods were hit with tariffs of up to 35%, EU products 20% (later reduced to 15%), Switzerland as high as 39%, and Section 232 steel and aluminum tariffs doubled to 50%, affecting haul ropes and components. Manufacturers cited steel price increases of 30–40% on some parts since 2020. With companies expecting 2026 installations to decline further, resorts face continued cost pressure and delayed project timelines.
• The US ski industry faces a cautious consumer backdrop as confidence and sentiment remain weak, according to leading indicators. The Conference Board reported the Consumer Confidence Index fell 9.7 points in January to 84.5, its lowest level since 2014, with the Expectations Index dropping to 65.1, well below the recession signal threshold of 80. The Present Situation Index declined to 113.7, while only 15.6% of consumers expect business conditions to improve and 28.5% anticipate fewer jobs ahead. University of Michigan data show sentiment at 57.3 in February, about 11–12% below a year ago, with concerns about high prices and job loss widespread. Although intentions to spend on hotels/motels and airfare ticked up, overall vacation plans plunged, especially for domestic travel. For ski resorts, equipment manufacturers, and retailers, softer discretionary spending and recession fears could dampen lift ticket sales, travel bookings, and gear purchases despite pockets of resilience in travel-related services.

• The US skiing facilities industry is projected to grow at a CAGR of 3.24% between 2025 and 2029, according to an updated forecast from Inforum and the Interindustry Economic Research Fund, Inc. The expected growth rate is slower than the overall economy's projected growth. The arts, entertainment, and recreation industries are largely driven by spending by US households and tourists, foreign students, and other visitors. Consumer sentiment is expected to improve in the forecast period, which bodes well for the sector. Further increases in tariffs and decreases in immigrant labor supplies may push price levels higher and postpone improvement of inflation. The slow rise of employment and higher consumption prices may limit expansion of real disposable income to about 1.8% in 2025 and 1.6% in 2026.
• The National Ski Areas Association (NSAA) announced visitation of nearly 61.5 million skier visits for the 2024-25 season, a 1.7% increase over the previous season and the second-highest visitation on record. The numbers are preliminary, as several ski areas have extended their seasons. Per the NSAA announcement, “Several years ago, we set an ambitious goal of reaching a three-year rolling average of 60 million skier visits. We’ve now surpassed that benchmark for four consecutive seasons. While weather will always be unpredictable, this year was less volatile overall, and nearly every region saw solid snowfall.” The 2024-25 visitation figure was about 6% lower than the record-setting season of 2022-23. One of the NSAA’s six regions posted record skier visits during the season: the Pacific Northwest region (4.7 million). In addition, the number of operating ski areas grew to 492 from the previous season’s 484.