In a new economic impact report by Thomas J. Murray & Associates, the 2022 Discover Boating Miami International Boat Show – a joint production of Information Marketsthe NMMA and the International Yacht Brokers Association (IYBA) – generated more than $955 million, created more than 5,000 jobs and attracted 100,000 visitors during its five-day run over Presidents Day weekend.
“As producers of the Discover Boating Miami International Boat Show, Informa Markets is proud to bring an event to South Florida that not only engages visitors, residents and boating industry patrons, but also serves as a unparalleled economic engine for the State of Florida. The results of this economic impact study motivate us to continue to produce an event that benefits Florida jobs and businesses,” said Andrew Doole, President of US Boat Shows. at Informa Markets “This successful event could not have been made possible without the great collaboration and partnership of the National Marine Manufacturers Association and the International Yacht Brokers Association.”
Key figures from the 2022 Economic Impact Report include:
- The 2022 Discover Boating Miami International Boat Show generated an estimated $955.6 million in economic impact across the State of Florida, resulting from marine industry sales and travel/entertainment spending by exhibitors and attendees from the boat show
- 5,000 Full-Time and Part-Time Jobs Across Florida Associated With $315 Million Statewide Personal Income Impact
- Total estimated sales for exhibitors during the boat show reached $642 million
- Total sales and local taxes generated statewide due to the boat show were estimated at $49.07 million.
The Discover Boating Miami International Boat Show also provides a direct boost to the tourism and travel industry in Florida:
- 100,000 visitors attended the Boat Show
- 41% of visitors were from out of state
- The average out-of-town visitor spend (hotels, restaurants, entertainment, transportation, etc.) at the boat show was $321 per day
- Overall local spending by out-of-town visitors (guests and exhibitors) totaled approximately $42.9 million
“The boating public turns to Miami every year for the opportunity to see and feel what’s new in boating,” said Paul Flannery, chief operating officer of the International Yacht Brokers Association. . “The combined efforts of IYBA, NMMA, and Informa have brought forth a platform that not only meets their needs, but contributes greatly to the local economy and statewide. Thousands of families depend on the business generated and income generated by DBMIBS, and we are fortunate to contribute to this industry in such a fantastic way.
The economic impact of the 2022 Discover Boating Miami International Boat Show reflects the demand for boating and recreational boating over the past two years, as well as growing interest in outdoor recreation.
“The Discover Boating Miami International Boat Show is a showcase of the best in boating, providing a unique, world-class experience for our attendees, exhibitors and partners, while generating vital spending and jobs both locally and state – wide,” said Frank Hugelmeyer, president of the National Marine Manufacturers Association. “Boating and DBMIBS continue to be a big business for Florida – consistently the number one US state for boat sales and boat registrations – and after two years of significant industry growth, we expect boat sales to boats this year will be healthy, at or above pre-pandemic levels, with strong forward order books as dealer inventories continue to catch up to meet extraordinary demand for recreational boating.