This is really fascinating. I never paid much heed to things like boat and car shows, largely because I am not really interested in either. But it is amazing to see how much money is spent there, both by the visitors and the exhibitors. It creates a huge economic impact on the entire state. These numbers are just staggering! The show took place this year from Feb. 13 – 17th but the numbers are from last year’s show. Even though it is only a 5 day event, it supported 6,592 full time jobs! Total economic impact: $597 million dollars for the entire state. It attracted 102,118 visitors, and 35% were from outside Florida. This is broken down to out of town visitors and foreign attendees, who combined to spend $63.6 million dollars. This year’s Show had 3,000 boats and 2,000 Exhibitors. Last year exhibitors spent a lot of money. 35% of exhibitors were from out of state, and 33% were from Florida. Together they spent $18.9 million dollars on local goods and services. Florida companies rang up $312.2 million in sales, which generated an excise and sales tax of $30.4 million dollars. Across the state, labor income impacts of $216.6 million dollars resulted from the economic activity generated by the Show. Given all this, I really look at these shows from a much different perspective when I realized how many people are impacted by them. I remember just a few years ago when the County ran out of storage space because so many boats had been seized due to foreclosure or simply abandoned. Now this; it is a nice change! Must be a pretty good indicator of the economy too, although it is in Miami where everything is going well. But remember that the show brings many people here from other countries and around the US as well, and presumably they are generating some if not most of the sales.
Progressive Insurance Miami International Boat Show Announces $597M Economic Impact
http://www.communitynewspapers.com/miami-beach/progressive-insurance-miami-international-boat-show-announces-597m-economic-impact/
Orin Rosenfeld
President
Rosenfeld Realty Advisors
9858 Glades Rd. Suite 209
Boca Raton, FL 33434
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