2022 Palm Beach International Boat Show generated over $1B for state of Florida

Aug 15, 2022 by To the Triton

Exhibitors at the 40th anniversary of the show brought in $725 million in sales and over 55,000 visitors attended the most luxurious boating and yachting event in South Florida, capping off another phenomenal year for the iconic West Palm Beach event 

West Palm Beach, FL (August 10, 2022) – The 2022 Palm Beach International Boat Show took the yachting and boating industry by storm, generating over $1 billion for the State of Florida and cementing its position as one of the most impactful boat shows in the entire country for another year in a row. The event, which took place March 24-27 along Flagler Drive’s waterfront, was a testament to the continued demand for the latest boating and yachting products that have been highly sought after since 2020.

“We are beyond thrilled by the results coming out of this year’s Palm Beach International Boat Show,” said Andrew Doole, 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.”

Key figures from the 2022 economic impact report, which was published and conducted by Thomas J. Murray & Associates, show that:

  • The 2022 Palm Beach International Boat Show generated an estimated $1.05 billion in economic impact throughout the state of Florida, resulting from marine industry sales and travel/entertainment expenditures by Boat Show exhibitors and attendees
  • 6,000 full-time and part-time jobs were generated throughout Florida, and are associated with a state-wide 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 state-wide 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,” said City of West Palm Beach Mayor Keith James. “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.”

With respect to the tourism industry, the 40th Annual Palm Beach International Boat boasted incredible figures:

  • 55,000 visitors attended the Boat Show
  • 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

“The Palm Beach International Boat show showcases the greatest in boating and yachting, providing an exceptional weekend for marine enthusiasts and luxury connoisseurs,” said Austin Burkett, 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 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, which contributed over $2 billion to the state economy. The shows, which are all produced by Informa Markets, evidence the industry-leading prowess of the global trade show producer and the dominance it has in the boating and yachting industry.

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.

About Informa Markets

Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. We provide marketplace participants around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, targeted digital services, and actionable data solutions. We connect buyers and sellers across more than a dozen global verticals, including Boating, Pharmaceuticals, Food, Fashion, and Infrastructure. As the world’s leading market-making company, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year. For more information, please visit www.informamarkets.com.

About the Marine Industries Association of Palm Beach County

The Marine Industries Association of Palm Beach County, Inc. (MIAPBC) is a not-for-profit organization formed in 1986. Their mission is to promote and protect the sound growth of the marine industry in Palm Beach County for the benefit and education of its members, the community, and the environment. The MIAPBC brings the community two annual signature events: the Palm Beach International Boat Show and the Palm Beach Holiday Boat Parade. MIAPBC supports over forty local marine-related events and nonprofits that protect and promote the marine industry in Palm Beach County and beyond with a portion providing scholarships to deserving students. Since its inception, the MIAPBC has donated over $2.5 million to local nonprofit organizations and scholarship candidates. For more information, please visit www.marinepbc.org.