Fort Lauderdale boat show generated $1.3 billion in Florida

The Fort Lauderdale International Boat Show passed the $1 billion mark last year on the event’s 60th anniversary.

The Marine Industries Association of South Florida, owner of the show, and Informa Markets US Boat Shows, producers of the show, released the results of the now-completed study this week.

The show generated $1.3 billion in economic output across the state of Florida, according to MIASF and Informa, up from $857 million from the previous study conducted in 2015.

Total sales were $715.4 million, up from $508 million in 2015, or more than $143 million in direct sales per day during the five days of the show.

“The importance of FLIBS to the local and statewide economy cannot be overstated,” said MIASF CEO and President Phil Purcell. in a report. “Not only does the show have a greater economic impact than any Super Bowl, FLIBS supports South Florida’s $12 billion shipping industry and its 142,000 jobs for the remaining 360 days of the year, reinforcing the region’s reputation as the yachting capital of the world, but also the refit and repair capital of the world.

Sales and excise taxes were $69 million in the state, including $20.7 in Broward County. This represents an increase of $51.2 million in taxes for Florida and $16.9 million in Broward County.

More than half – 61% – of visitors came from out of the region and 49% from out of state. Ten percent came from outside the United States.

“The notable increases in its economic impact speak to its importance to the maritime industry, the local and national economy, and further strengthen its standing among the leading boat shows around the world.” said Andrew Doole, President of Informa Markets US Boat Shows. “The increase in sales demonstrates that quality buyers are present and that the growth and improvements to the show continue to be welcomed.

Organizers are looking forward to the 2020 show, Doole said.

“There are a lot of pent-up requests to get back to life on the water and spending quality time with family and friends outdoors,” Doole said. “FLIBS spans nearly 90 acres across seven waterfront sites and we are thrilled to once again bring together the marine community and boating enthusiasts.”

Discover all study here.

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