2022 Palm Beach show reports $1B economic impact
The 2022 Palm Beach International Boat Show took the yachting and boating industry by storm, generating over $1 billion for the State of Florida. The event, which took place March 24-27 along Flagler Drive’s waterfront, was a testament to the continued demand for the latest boating and yachting products that have been highly sought after since 2020.
“We are beyond thrilled by the results coming out of this year’s Palm Beach International Boat Show,” said Andrew Doole, President of U.S. Boat Show with Informa Markets and producer of the event. “We could not have asked for a better showing during this milestone year for the event, and we are grateful to our partners at the Marine Industries Association of Palm Beach County, City of West Palm Beach Mayor James, and the entire Informa staff for their collaboration to make this event a massive success for our industry and the region.”
Key figures from the 2022 economic impact report, which was published and conducted by Thomas J. Murray & Associates, show that:
- The 2022 Palm Beach International Boat Show generated an estimated $1.05 billion in economic impact throughout the state of Florida, resulting from marine industry sales and travel/entertainment expenditures by Boat Show exhibitors and attendees
- 6,000 full-time and part-time jobs were generated throughout Florida, and are associated with a state-wide personal income impact output of $342.3 million
- Total estimated sales for exhibitors during the Boat Show reached $725 million
- Total sales and local taxes generated state-wide because of the Boat Show were an estimated $51.86 million
“The Palm Beach International Boat Show has shown time and time again what makes West Palm Beach a special and unique destination for the global boating and yachting community,” said City of West Palm Beach Mayor Keith James. “We are incredibly fortunate to work alongside Informa Markets and the Marine Industries Association of Palm Beach County to make this show a complete success, especially for our statewide economy and tourism sector.”
With respect to the tourism industry, the 40th Annual Palm Beach International Boat boasted:
- 55,000 visitors attended the Boat Show
- 36% of the visitors were from outside the Tri-County region
- The average expenditure by out-of-town visitors (hotels, restaurants, entertainment, transportation, etc.) at the Boat Show was $288 per day
- Overall local expenditures from out-of-town visitors (guests & exhibitors) totaled an estimated $22.8 million
“The Palm Beach International Boat show showcases the greatest in boating and yachting, providing an exceptional weekend for marine enthusiasts and luxury connoisseurs,” said Austin Burkett, President of the Marine Industries Association of Palm Beach County Board of Directors. “This year’s Boat Show secured its spot as an economic powerhouse for the state of Florida, and we look forward to welcoming back exhibitors and attendees to downtown West Palm Beach in early 2023.”
The latest economic figures from the Palm Beach International Boat Show come on the heels of the impressive results generated by the 2022 Discover Boating Miami International Boat Show and the 2021 Fort Lauderdale International Boat Show, which contributed over $2 billion to the state economy.
The 41st edition of the Palm Beach International Boat Show is slated for March 23-March 26, 2023. For more information, please visit: www.PBBoatshow.com.
Source: https://boatingindustry.com/news/2022/08/16/2022-palm-beach-show-reports-1b-economic-impact/
