WEST PALM BEACH, Fla. – The 2022 Palm Beach International Boat Show, produced by Informa Markets, can teach a thing or two about smooth sailing. Its 40th annual industry event, held March 24-27, 2022 along Flagler Drive’s waterfront, injected more than $1.05 billion into the state of Florida, taking the boating and business events industry by storm.
“The extraordinary economic impact generated by the 2022 Palm Beach International Boat Show was an incredible and impressive achievement, and we could not have asked for a better showing during this milestone year for the event,” Andrew Doole, President of U.S. Boat Shows, Informa Markets, said. “We are grateful to our partners at the Marine Industries Association of Palm Beach County, City of West Palm Beach Mayor James as well as city staff, and the entire Informa team for their collaboration to make this event a profound success for our industry and the region to celebrate.”
The trade show’s 2022 economic impact report, conducted and published by Thomas J. Murray & Associates, reveals an estimated $1.05 billion in economic impact throughout Florida, from marine industry sales and travel and entertainment expenditures by trade show exhibitors and attendees.
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Total estimated sales for exhibitors during the boat show reached $725 million, with an estimated $51.86 million in local taxes generated statewide. In addition to a statewide personal income impact of $342.3 million, 6,000 full-time and part-time jobs were also generated throughout the state for this prestigious event. By any account, these are remarkable numbers for the statewide economy and tourism sector in any year but especially given that this annual Palm Beach International Boat Show event was canceled in 2020 and limited in scope for 2021 due to COVID-19 restrictions.
“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,” City of West Palm Beach Mayor Keith James said. “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.”
The 40th Annual Palm Beach International Boat Show attracted 55,000 visitors, with 36% hailing from outside the tri-county region.
The average expenditure by out-of-town visitors was $288 per day. Overall local expenditures from out-of-town visitors (guests & exhibitors) totaled an estimated $22.8 million.
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“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, President of the Marine Industries Association of Palm Beach County Board of Directors, said. “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, both contributing over $2 billion to the state coffers. These shows are all produced by Informa Markets.
The 41st edition of the Palm Beach International Boat Show is slated for March 23-March 26, 2023.
Reach Andrew Doole at (954) 764-7642 or andrew.doole@informa.com
