New report shows $597 million impact of Miami boat show
The 2013 Miami International Boat Show generated $597 million in total economic output and supported 6,592 full-time jobs, according to a new study.
The National Marine Manufacturers Association, which produces the show, hired Thomas J. Murray & Associates Inc. to analyze the impact of the event.
“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.
Some key findings from the report:
- $30.4 million in excise and sales tax was generated as a result of the show
- $216.6 million in labor income impact was associated with the show
- 36 percent of visitors to the show were from outside Florida. Those out-of-towners spent an average of $225 per day.
- Exhibitors spent $18.9 million on local goods and services such as hotels, restaurants, etc.
In terms of economic activity, that means the show outpaces other major events, the study said. The 2012 Super Bowl, for example, generated an overall economic impact of $323.8 million for the local region. The comparable figure for the Miami show was $379.6 million.
The full study is available here.
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.