The economic impact of Informa Market’s 2022 Palm Beach International Boat Show has been announced, revealing that the show generated over $1 billion for the Florida economy.
Its 40th edition of the event, held from March 24-27, 2022, catered to both the boating and business event industries.
Andrew Doole, President of US Boat Shows for Informa Markets, said, “The extraordinary economic impact generated by the 2022 Palm Beach International Boat Show has been an incredible and impressive achievement.
The 2022 Show Economic Impact Report revealed an estimated $1.05 billion in economic impact across the state of Florida, ranging from marine industry sales to travel and entertainment spending by exhibitors and exhibitors. attendees at the show:
- Total estimated sales for exhibitors during the boat show reached $725 million.
- An estimated $51.86 million in local taxes were generated statewide.
- A statewide personal income impact of $342.3 million was estimated,
- 6,000 full-time and part-time jobs were created across Florida for the event.
The 40th Annual Palm Beach International Boat Show attracted 55,000 visitors, 36% of whom were from outside the tri-county area. The 2022 event was the first held at full capacity in two years, as it had already been canceled in 2020 and the 2021 event maintained Covid-19 restrictions.
Average spending by out-of-town visitors was $288 per day. Overall local spending by out-of-town visitors (guests and exhibitors) totaled approximately $22.8 million.
The Palm Beach International Boat Show results follow those generated by the 2022 Discover Boating Miami International Boat Show and the 2021 Fort Lauderdale International Boat Show – both of which contributed more than $2 billion to Florida’s economy. These three shows are all produced by Informa Markets.
Austin Burkett, chairman of the board of the Marine Industries Association of Palm Beach County, commented. “This year’s boat show has secured its place as the economic engine of the state of Florida, and we look forward to welcoming exhibitors and attendees back to downtown West Palm Beach in early 2023. “
The 41st edition of the show is scheduled for March 23-26, 2023.