PHOTO COURTESY INFORMAThe Marine Industries Association of South Florida, owner of the Fort Lauderdale International Boat Show, and partner Informa Markets this week released the details of a study that examined the economic impact of last year’s show on the Florida economy.
The study found that the 62nd edition of FLIBS contributed $1.79 billion to Florida’s economy. Additionally, the study showed $899 million in direct sales during the five-day show, generating $85.4 million in sales taxes for Florida, with $24.5 million of that going to Broward County.
“The unprecedented economic contributions the Fort Lauderdale International Boat Show continues to make to the local, regional and state economy should be recognized,” MIASF CEO and president Phil Purcell said in a statement.
“Since the show’s inception, it has enjoyed year-over-year growth and today helps sustain more than 149,000 marine industry jobs in the tri-county area,” he added. “The show is also an integral contributor to the more than $12.5 billion in total economic output generated by the South Florida marine industry annually. This show doesn’t leave our community after its five days; it has a resounding impact the other 360 days, as well.”
Highlights of the study include:
• $1.79 billion in economic output throughout the state of Florida through show purchases and expenditures
• $709.7 million in estimated sales by Florida companies during the show, with $513.9 million made by Tri-County companies and $233.9 million by Broward County companies
• $85.8 million in state and local taxes generated within Florida, with $24.5 million in Broward County
• $580.4 million in statewide personal income and economic activity
• 100,000-plus show visitors, with 49 percent of visitors from outside Florida
• $241 per day average spent by out-of-town visitors
• $47.3 million in estimated total expenditures by non-local visitors and exhibitors
