The economic impact of Informa Market’s 2022 Palm Beach International Boat show has been announced, revealing that the show generated over $1b for Florida’s economy.
Its 40th edition of the event, held March 24-27, 2022, was aimed at both the boating and business events industries.
Andrew Doole, president of U.S. Boat Shows for Informa Markets, said: “The extraordinary economic impact generated by the 2022 Palm Beach International Boat Show was an incredible and impressive achievement.”
The trade show’s 2022 economic impact report revealed an estimated $1.05b in economic impact throughout the state of Florida, ranging from marine industry sales and travel and entertainment expenditures by trade show exhibitors and attendees:
- Total estimated sales for exhibitors during the boat show reached $725m.
- An estimated $51.86m in local taxes were generated state-wide.
- A state-wide personal income impact of $342.3m was estimated,
- 6,000 full-time and part-time jobs were generated throughout Florida for the event.
The 40th Annual Palm Beach International Boat Show attracted 55,000 visitors, with 36% attending from outside the tri-county region. 2022’s event was the first held at full capacity in two years, as it had previously been cancelled in 2020 and 2021’s event maintained Covid-19 restrictions.
The average expenditure by out-of-town visitors was $288 per day. Overall local expenditures from out-of-town visitors (guests and exhibitors) totalled an estimated $22.8m.
The results from the Palm Beach International Boat Show follow those generated by the 2022 Discover Boating Miami International Boat Show, and the 2021 Fort Lauderdale International Boat Show – which both contributed over $2b to Florida’s economy. These three shows are all produced by Informa Markets.
Austin Burkett, president of the Marine Industries Association of Palm Beach County Board of Directors, commented. “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 show is set for 23-26 March 2023.
