FORT LAUDERDALE, Fla. — Positive momentum on the stock market has boat dealers optimistic that the 50th installment of the Fort Lauderdale International Boat show will be a boon for sales, according to a recent article in the Miami Herald.
The show, which runs through Monday in Fort Lauderdale, is held in an area that has been particularly hard hit by the marine industry’s struggles, though recent economic indicators may herald better days ahead.
“Boats are purchased when people have a certain comfort level in terms of job security and their stock market portfolios,” Frank Herhold, one of the show’s organizers, told the paper. “We’ve seen some very economically significant increases in consumer confidence and an increase in the stock market. These are good bellwethers.”
The Herald points out that luxury spending jumped 29 percent in the third quarter of 2009 compared with the previous three months, according to a survey by Unity Marketing.
While sales were originally expected to be down by as much as 20 percent, the paper reports, the last three months have showed encouraging signs. Advance ticket sales are up 16 percent over last year and vendor registrations have rallied, although they are still down 17 percent, according to Skip Zimbalist, CEO of the show’s producer, Show Management.
To read the Herald‘s complete report, click here.