Report Reveals 2022 Palm Beach International Boat Show Generated Over $700 Million in Sales
More than 55,000 visitors attended the yachting event in West Palm Beach, which also created 6,000 jobs
Exhibitors at the 40th Palm Beach International Boat Show of the show brought in $725 million in sales, according to an economic impact report conducted by Thomas J. Murray & Associates. The event, which took place in March along Flagler Drive’s waterfront, generated over $1 billion in Florida, resulting from marine industry sales and travel/entertainment expenditures by Boat Show exhibitors and attendees.
“We are beyond thrilled by the results coming out of this year’s Palm Beach International Boat Show,” Andrew Doole says, 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.”
Other important figures from the 2022 economic impact report revealed that:
- 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.
- 6,000 full-time and part-time jobs were generated throughout Florida and are associated with a statewide 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 statewide 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,” West Palm Beach Mayor Keith James says. “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.”
Along with the Palm Beach International Boat Show, the 2022 Discover Boating Miami International Boat Show and the 2021 Fort Lauderdale International Boat Show, all produced by Informa Markets, contributed over $2 billion to the state economy.
“The Palm Beach International Boat show showcases the greatest in boating and yachting, providing an exceptional weekend for marine enthusiasts and luxury connoisseurs,” Austin Burkett says, 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 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.