The 65th Fort Lauderdale International Boat Show is set to make waves in the local economy and lift the spirits of sellers. The world’s largest annual in-water boat show will kick off at noon on Wednesday with a strong roster of vessels for both the wealthy and those with more modest budgets. An estimated 100,000-plus visitors are expected to traverse seven venues at the show to view more than 1,300 vessels and discuss business with over 1,000 exhibitors.
Jonathan Beckett, CEO of Monaco-based Burgess Yachts, has moved his family from Europe to Key Biscayne to gain better access to the U.S. market. It’s always been a really important market for us,” Beckett said. “Russia was 25% of our business and America was 30%.
Now Russia is 0% and America is about 45% of our global business. This is the biggest pool of potential yacht charterers, yacht owners, and yacht sellers. Our intention is to grow our offices, footprint, and market share.”
Phil Purcell, CEO and president of the Marine Industries Association of South Florida, which owns the boat show, is excited about the event’s impact.
The show drives a billion-dollar-plus marine industry in Fort Lauderdale, from the yacht basin of Bahia Mar to the major manufacturing, repair, and overhaul centers along the New River. The area’s lodging industry is expected to benefit from some welcomed gains. “The hotels love it, the restaurants love it,” Purcell said.
“This will be a good shot in the arm for hotels and restaurants.”
The show is estimated to deliver $25.8 million in tax revenue in Broward County alone.
local economy buoyed by boat show
It also creates a workforce of its own, with around 30,000 workers working the show between the visitors and staff.
Megan Lagasse, marine director at Pier Sixty-Six North, expects boat owners to sail into her marina, park, and use their vessels as a base while attending the show. Some 200 boats will reside at Pier Sixty-Six North in the 100 feet and above range. Buyer choices at the show will come from worldwide origins.
From Australia, a container ship filled with expensive vessels traversed the Pacific Ocean, the Panama Canal, and the Caribbean last week from the Port of Brisbane on a 34-day, 7,980-nautical-mile voyage to Fort Lauderdale. The builder Riviera plans to show off an 11-motor yacht fleet valued at $20 million (Australian). From the other side of the world, X Shore, the Swedish technology company developing a new generation of fully electric, silent boats, will exhibit the latest editions, including the X Shore 1, dubbed the “Tesla of the Sea.
The show is a magnet for businesses and professionals not directly involved in the marine industry.
Consulting firms leverage the event’s gravitas for deal-making moments. We have a number of client meetings arranged months ago because of the boat show,” said John Boyd, principal of The Boyd Company, a business site selection consultancy based in Boca Raton. The Fort Lauderdale Executive Airport expects show-related flights to boost traffic by 20-25%, resulting in 500 to 700 flights a day from around the world.
The head of Costa Rica’s Commission of Marinas is scheduled to visit to highlight the Central American nation’s growing yachting and marina offerings. Developers with projects to push and brokers with mansions to sell have hosted cocktail parties and gatherings aboard yachts in advance of the show’s opening. Developer Jimmy Tate of Miami planned to have a sales center in place by this month to reach out to potential buyers of the luxury condos he intends to build at the taxpayer-owned property serving as the show’s central venue.
The 65th Annual Fort Lauderdale International Boat Show promises to be a spectacular event, showcasing the best in the marine industry and driving significant economic impact in the region.
