Discover Boating Miami International Boat Show generates over $950 million in revenue

In a new economic impact report conducted by Thomas J. Murray & Associates, the 2022 Discover Boating Miami International Boat Show – a joint production from Informa Markets, the NMMA, and the International Yacht Brokers Association (IYBA) – generated more than $955 million, created over 5,000 jobs, and attracted 100,000 visitors during its five-day run over Presidents Day Weekend.

“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. The results of this economic impact study motivate us to continue producing an event that benefits Florida jobs and businesses,” said Andrew Doole, president of U.S. boat shows with Informa Markets. “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.”

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 throughout the state of Florida, resulting from marine industry sales and travel/entertainment expenditures by Boat Show exhibitors and attendees
  • 5,000 full-time and part-time jobs throughout Florida, associated with a state-wide personal income impact output of $315 million
  • Total estimated sales for exhibitors during the Boat Show reached $642 million
  • Total sales and local taxes generated state-wide because of the Boat Show were an estimated $49.07 million.

The Discover Boating Miami International Boat Show also provides a direct boost to Florida’s tourism and travel industry:

  • 100,000 visitors attended the Boat Show
  • 41% of the visitors were from out of state
  • The average expenditure by out-of-town visitors (hotels, restaurants, entertainment, transportation, etc.) at the Boat Show was $321 per day
  • Overall local expenditures from out-of-town visitors (guests & exhibitors) totaled an estimated $42.9 million

“The boating public looks to Miami each year for an 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 has 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.”

The economic impact of the 2022 Discover Boating Miami International Boat Show is reflective of the demand for recreational boating and yachting 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 world-class, one-of-a-kind 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 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.”

Source: https://boatingindustry.com/news/2022/07/07/discover-boating-miami-international-boat-show-generates-over-950-million-in-revenue/