Study supports expansion of Palm Beach show - Trade Only Today

Study supports expansion of Palm Beach show

Author:
Publish date:

The Palm Beach International Boat Show adds $76.7 million to the economy in South Florida, a new study says, and marine industry leaders believe the event could in time rival the Fort Lauderdale show, which starts Thursday.

The study was commissioned by the Palm Beach County chapter of the Marine Industries Association. The association released it Tuesday and the trade group has plans to increase support for expanding the show. The largest show of support would be to dredge the Intracoastal Waterway to a depth that would allow superyachts to attend.

The study “demonstrates we’re far more than a festival of fancy boats for people to look at,” said Jim Bronstien, owner of Marine Business Advisors and board member of the Tourist Development Council, told the Palm Beach Post.

Larger yachts — megayachts and superyachts that start at 80 feet and go to more than 200 — are a growing trend in the industry and there is a demand for them in Palm Beach County. Bringing them in would have a “massive” effect, said Mike Anthiel, the association’s executive director.

The marine industry has a $2 billion impact on the county annually, the association says. And the boat show is one of the biggest events, with 900 boats this year — 425 in the water — and 464 total exhibitors.

Participants displayed more than $1.2 billion and sold $125 million worth of boats and marine products at the show in March. Fort Lauderdale’s show expects to have more than double that on display, starting Thursday.

Click here for the full report.

Related

E-nnovation Lab to expand at 2018 Metstrade show

The growing demand for hybrid and electric engines is becoming more apparent within the leisure marine market, prompting Metstrade to introduce the E-nnovation Lab platform for electric propulsion technology.

Aluminum, tow boats lead moderate growth in May

Boat registrations were up 2.1 percent in May in the main powerboat categories, and rose 3.2 percent in all categories, according to preliminary data from Statistical Surveys Inc., a Michigan company that tracks new boat registrations.

Retaliatory tariffs on boats to EU start today

The 25 percent tariff the EU announced Wednesday on U.S.-built boats kicks in today, and a 10 percent tariff on boats sold to Canada will start July 1, prompting boatbuilders to worry they will lose sales to those countries.