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The present invention provides a foldable boat comprising a first rigid hull section having a bottom that is substantially V-shaped in transverse section, and a second rigid hull section hinged to the first rigid hull section, wherein an axis of the hinge is longitudinal. The foldable boat may further comprise an inflatable tube generally disposed above said first and second hull sections and extending rearwardly from a bow of the boat along opposite sides of the boat, a third rigid hull section hinged to the first rigid hull section, wherein an axis of the hinge is longitudinal and the third section is mounted on an opposite side of the first section from the second hull section such that the first section forms a center section and the second and third sections respectively form port and starboard sections, the second and third sections respectively forming upper edges of the V-shape. The hinges of the second and third hull sections are designed to permit the second and third hull sections to be folded upward from an unfolded state into a folded state, thereby significantly reducing the storage width of the boat relative to the unfolded state. The second and third sections lay on top of the first section when in the folded state. A latching mechanism is used for locking the second and third hull sections to the first hull section in the unfolded position. The boat is powered by a jet propulsion system integrally mounted in the first hull section.
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