NEW STUDY PROVES FORT LAUDERDALE INTERNATIONAL BOAT SHOW INJECTS HUNDREDS OF MILLIONS OF DOLLARS TO FLORIDA’S ECONOMY
FORT LAUDERDALE, Fla. (July 14, 2016) – Today the Marine Industries Association of South Florida and Show Management, the owners and producers of the Fort Lauderdale International Boat Show, respectively, announced the results of an economic impact study conducted by Thomas J. Murray & Associates in conjunction with the University of Florida. The study concluded that the 56th Annual Fort Lauderdale International Boat Show (FLIBS), the largest boat show in the world in terms of gross exhibitor space and vessels gathered for any event, contributed a whopping $857 million to the overall economy in the state of Florida.
“The continued growth and strength of the Fort Lauderdale International Boat Show, the largest boat show in the world and the largest single event in the State of Florida, is only possible because of the coordinated effort of the entire community,” said Efrem “Skip” Zimbalist III, president of Show Management. “We thank the residents of the area for their cooperation and support during the busy time surrounding the show. We thank the hospitality industry for their part in making show attendees feel welcome in the community. We thank our partners, exhibitors and suppliers for their critical role in making the show a success. And we thank the City of Ft. Lauderdale, Broward County, and all the regulatory and law enforcement agencies that come together to make this incredibly complex event possible.”
Phil Purcell, Executive Director of the Marine Industries Association of South Florida, added, “The economic impact of FLIBS dwarfs a Super Bowl, and it happens year after year – contributing to the sustainability of 136,000 marine industry jobs and $11.5 billion to the economy in the region. It’s important to note that since 1961 FLIBS has consistently provided the critical economic certainty and job growth that our community and state want and need.”
Major FLIBS financial contributions during a five-day period include:
• $857.3 million in economic output throughout the state of Florida as a result of the infusion of purchases and expenditures
• $508.3 million in total sales by FLIBS participants
• $380.8 million in estimated sales by Florida companies, of which $240.7 million was contributed by the tri-county area and $131.5 million by Broward County
• $51.2 million in sales and excise taxes, with $16.9 million in Broward County alone
• $304.3 million in statewide personal income and economic activity
• 58% of visitors were from outside the region, 54% were from outside Florida, including 10% foreign visitors
• An average expenditure of $208 per day by out-of-town visitor (hotels, restaurants, retail spending, local transportation)
• $29.6 million in non-local visitor expenditures
The full economic impact report can be found by visiting www.miasf.org.
More about the Fort Lauderdale International Boat Show:
The 57th annual Fort Lauderdale International Boat Show is set to take place November 3-7 at the Bahia Mar Fort Lauderdale Beach Hotel & Yachting Center, the Hall of Fame Marina, Las Olas Municipal Marina, Hilton Fort Lauderdale Marina, Sails Marina, Hyatt Regency Pier 66 Marina and the Greater Fort Lauderdale/Broward County Convention Center.
The world’s largest in-water boat show, FLIBS covers seven locations with nearly 1,500 boats displayed across more than 3 million square feet of exhibit space. The show draws approximately 1,000 exhibitors from more than 30 countries that display an amazing array of boats, marine products and accessories, from astonishing super-yachts, fishing boats, runabouts and boats for every budget, to fishing gear, marine art, jewelry and more, all valued at more than $4 billion.
Like the Fort Lauderdale International Boat Show on Facebook at facebook.com/fortlauderdaleboatshow, follow the show on Twitter at twitter.com/boatshowupdates, connect on Instagram at instagram.com/boatshowphotos, and tune into Boat Show TV at youtube.com/showmanagement.
More about the Marine Industries Association of South Florida:
The Marine Industries Association of South Florida (MIASF) is the largest trade organization in the Southeast United States dedicated to promoting, protecting, and growing the 110,000 middle class jobs in Broward County and 136,000 jobs regionally in marine businesses promoting boating lifestyles from family cruising and fishing to yachts and the goods and services that sustain them, driving the economic output to $8.8 billion in Broward County and $11.5 billion regionally. Created in 1961, the not-for-profit trade group is focused on the sound growth of the marine industry in the South Florida Region to benefit its members, their customers, communities and the environment. The Association has over 500 members in Broward, Miami-Dade, and Palm Beach Counties and is the owner of the Fort Lauderdale International Boat Show.