WEST PALM BEACH, Florida – The 2022 Palm Beach International Boat Show, produced by Informa Markets, can teach us a thing or two about smooth sailing. Its 40th annual industry event, held March 24-27, 2022 along the Flagler Drive waterfront, pumped 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 outcome in this pivotal year for the event,” said Andrew Doole, president of U.S. Boat Shows at Informa Markets. “We are grateful to our partners at the Marine Industries Association of Palm Beach County, West Palm Beach Mayor James, the city staff and the entire Informa team for their collaboration in making this event a profound success for our industry and the region.”
The 2022 Show Economic Impact Report, conducted and published by Thomas J. Murray & Associates, reveals an estimated economic impact of $1.05 billion across Florida, stemming from marine industry sales and travel and entertainment spending by exhibitors and show attendees.
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Estimated total exhibitor sales 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- and part-time jobs were also created statewide for this prestigious event. Clearly, these are remarkable numbers for the state’s economy and tourism sector in any year, but especially considering 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 demonstrated time and time again what makes West Palm Beach a special and unique destination for the global boating and yachting community,” said Keith James, Mayor of the City of West Palm Beach. “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, 36 percent of whom came from outside the tri-county area.
Average out-of-town visitor spending was $288 per day. Overall local spending by out-of-town visitors (guests and exhibitors) totaled approximately $22.8 million.
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“The Palm Beach International Boat Show showcases the best in boating and yachting, providing an exceptional weekend for marine enthusiasts and luxury connoisseurs,” said Austin Burkett, Chairman of the Board of Directors, Marine Industries Association of Palm Beach County. “This year’s boat show has secured its place as an economic engine for the state of Florida, and we look forward to welcoming exhibitors and attendees back to downtown West Palm Beach in early 2023.”
The latest economic figures from the Palm Beach International Boat Show follow impressive results generated by the 2022 Discover Boating Miami International Boat Show and the 2021 Fort Lauderdale International Boat Show, which each contributed $2 billion to state coffers. These shows are all produced by Informa Markets.
The 41st Palm Beach International Boat Show is scheduled for March 23-26, 2023.
Contact Andrew Doole at (954) 764-7642 or andrew.doole@informa.com