NMMA has announced findings from a new 2017 study by Thomas J. Murray & Associates, Inc., in conjunction with the University of Florida, that showed that the Progressive Insurance Miami International Boat Show has an annual economic impact of $854.2 million, a 40 percent increase of $257.2 million since the last study was conducted in 2013.
The increase reflects the success the show has seen at its new location on Virginia Key and its importance to Miami-Dade County and the State of Florida.
“Boating and the Miami Boat Show are big business for Florida, bringing visitors, sales and revenue from around the world to our state each February for the five biggest days in boating,” said Larry Berryman, Miami Boat Show manager. “We are proud to be a part of the greatest boat show in the world that delivers $854 million into Florida’s economy each year and supports full-time employment for approximately 6,000 of our fellow Floridians.”
Additional insights from the 2017 economic impact study include:
- Labor income for the approximately 6,000 full time jobs totaled $289.6 million;
- As a result of the show, the state of Florida was paid approximately $56.9 million in sales and excise taxes;
- Out of town visitors to the show and exhibitors spend around $53 million in the local area on hotels, restaurants, retail shops, entertainment and transportation;
- Florida exhibitors alone, sell approximately $350 million in marine products at the show each year
The 2018 Miami International Boat Show will be held Feb. 15-19 at the iconic Miami Marine Stadium Park & Basin and for the first time in decades will be joined by its sailing counterpart, Strictly Sail Miami. As a result, the five biggest days in boating will be easier to access than ever before.
With the addition of sailboats and catamarans, as well as more powerboats, the show will feature nearly 700 boats in its extensive deep-water basin, bringing the total boat count for the 2018 show to 1,400 new boats available for purchase.
Set within Miami Marine Stadium, the show features one of the most scenic views in the country overlooking Biscayne Bay and downtown Miami, making it a beloved destination for approximately 100,000 boating enthusiasts.
“The decision to combine these two popular events is due in large part to feedback from attendees, as well as sail and power exhibitors, looking for a single, streamlined experience of the best of boating,” Berryman said. “Miami Marine Stadium is the perfect venue for power and sail and bringing these two shows together will deliver the ultimate boat show experience.”