The Progressive® Insurance Miami International Boat Show® 2013 generated an amazing economic output of $597 million in Florida, as a result of out-of-state purchases as well as expenditures at the event and supported 6,592 full-time jobs, as stated in an economic impact analysis, released by the National Marine Manufacturers Association (NMMA). The 2013 Miami International Boat Show was held from February 14-18, attended by 102,118 visitors from all over the world. This is the first study of its kind in nearly a decade.
Prepared by Thomas J. Murray & Associates, Inc., the study assessed the economic impact of the annual five-day event on Miami-Dade, Broward, and Palm Beach counties, as well as the state of Florida. Total estimated sales by Florida companies during the 2013 Miami International Boat Show reached $312.2 million, and total excise and sales tax generated within Florida as a result of the show was $30.4 million.
“The results of the new study illustrate the show’s significant impact not only on South Florida’s local economy but to the entire state and recreational boating industry,” said Cathy Rick-Joule, show manager and vice president, NMMA. “The Progressive Insurance Miami International Boat Show continues to be a mainstay for dealers and manufacturers, which enables them to showcase their products before an international audience of serious buyers. It is one of the world’s premier boating events – a barometer for annual boat sales, a gathering of the newest and best products in recreational boating, and boost to our economy.”
Other key findings of the 2013 study
– Statewide in Florida, labor income impacts of $216.6 million were associated with the economic activity stemming from the boat show.
– 35% of boat show visitors were from outside of Florida.
– The average expenditure by out-of-town visitors (hotels, restaurants, retail spending, local transportation, etc.) at the show was $225.50 per day; while foreign attendees expended $302.69 per day. Such visitor expenditures totaled an estimated $63.6 million.
– 33% of exhibitors were Dade, Broward or Palm Beach county companies.
– 35% of exhibitors were from outside of Florida.
– Exhibitors expended $18.9 million on local goods and services, such as hotels, restaurants, retail and local transportation. Such expenditures were the beginning of economic impacts throughout the county, the region and state.
The 2014 Progressive Insurance Miami International Boat Show takes place in Miami Beach Feb. 13-17, bringing more than 3,000 boats and 2,000 exhibitors from across the globe to three locations – Miami Beach Convention Center, Sea Isle Marina & Yachting Center, and Miamarina at Bayside.
Progressive Insurance Miami International Boat Show by the numbers*
50: Number of exhibitors at the first Miami International Boat Show, held in 1941 under a tent at Miami’s Bayside Park
45,000: Average number of people working the Miami Boat Show, including exhibitors, contractors, facility staff, show employees, etc.
200,000: Estimated number of hotel rooms booked for the Miami Boat Show
110,000 +: Number of attendees expected in 2014
2.5 million sq. ft.: Gross amount of exhibition space at the Miami Beach Convention Center – the boat show uses all of it!
1 million sq. ft.: Amount of carpet used at the Miami Beach Convention Center for the boat show – enough to cover 20 football fields!
14 days: Length of time required for electricians to complete the show’s temporary power plant; a permanent installation with the same electrical requirements would require six months to build!
Recreational Boating in Florida*
Number of recreational boats: 865,287
84% power boats
11% PWCs
3% sailboats
2% other boats
Households per boat: 8.6
Recreational boating industry businesses: 5,539
Total boating jobs: 43,859
Total sales for new power boats, engines, trailers and accessories in 2012: $1.7 billion
Increase of 14.9% over 2011 retail sales
Ranks #1 in U.S.
Total boat registrations in 2012: 870,031
Decrease of 2.2% over 2011 state registrations
Ranks #1 in U.S.
*Source: NMMA
