Miami Boat Show generates close to US$1b for Florida

Miami

The 2022 Discover Boating Miami International Boat Show generated more than US$955 million, created over 5,000 jobs, and attracted 100,000 visitors during its five-day run, a new report has found.

A new economic impact report conducted by Thomas J. Murray & Associates examines the outcomes of the 2022 event – held between 16- 20 February, 2022 at Miami’s Biscayne Bay. The annual event is a joint production from Informa Markets, the National Marine Manufacturers Association (NMMA), and the International Yacht Brokers Association (IYBA).

“As the 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 patrons of the marine industry, but also serves as an unmatched economic engine for the State of Florida,” says Andrew Doole, president of U.S. boat shows with Informa Markets. “The results of this economic impact study motivate us to continue producing an event that benefits Florida jobs and businesses.”

“This successful event could not have been achieved without the great collaboration and partnership from the National Marine Manufacturers Association and the International Yacht Brokers Association.” 

The report concludes that the show attracted 100,000 visitors with 41 per cent of visitors travelling from outside of Florida. Overall local expenditures from out-of-town visitors (guests & exhibitors) equalled an estimated US$42.9 million.

“The boating public looks to Miami each year for an opportunity to see and feel what’s new in boating,” says Paul Flannery, chief operating officer of the International Yacht Brokers Association. “The combined efforts of IYBA, NMMA, and Informa have brought forward a platform that not only answers their needs but contributes greatly to the local and statewide economy. Thousands of families depend on the business generated and income provided by DBMIBS, and we are fortunate to contribute to this industry in such a fantastic way.”

Frank Hugelmeyer, president of the National Marine Manufacturers Association, adds: “The Discover Boating Miami International Boat Show is a showcase of the best in boating, providing a world-class, one-of-a-kind experience for our attendees, exhibitors and partners, while generating vital spending and jobs both locally and state-wide.

“Boating and DBMIBS remain big business for Florida—perennially the top state in the U.S. for both boat sales and boat registrations—and following two years of tremendous industry growth, we expect boat sales this year to be healthy, on par with or above pre-pandemic levels, with forward order books strong as dealer inventory continues to catch up to meet extraordinary demand for boating.”

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This article was written and/or edited by the UK-based MIN team.

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