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Lauderdale show dismisses industry slow-down

by JoAnn W. Goddard on 27 Oct 2006
The Man in the Boom aboard Kokomo - spars by Southern Spars - the superyacht is a New Zealand showpiece at FLIB Richard Gladwell www.photosport.co.nz
The Fort Lauderdale International Boat Show kicked off today with sunny skies, long lines at the gate and renewed optimism about boating, particularly in South Florida and the Bahamas.

Efrem 'Skip' Zimbalist III, CEO of Show Management and the new organizer of the Fort Lauderdale show, expressed thanks for the wonderful weather, referring to last year’s Hurricane Wilma, which disrupted the show.

Zimbalist welcomed about 200 journalists and business leaders at a breakfast meeting at the Bahia Mar hotel.

He also extended the hand of friendship to dignitaries from the neighbouring Bahamas, including Prime Minister Perry Christie, and to Florida developer Bobby Ginn, who is investing $4.9 billion in a resort community on the Grand Bahama Island. Ginn sur Mer, the development company, is title sponsor for the 2006 show.

The sold-out show is bigger than ever this year, with more boats on display and more advanced ticket sales, according to Zimbalist. He says advanced ticket sales are up 30 percent from the past two years. Those figures are not skewed by last year’s hurricane because tickets were sold before the storm churned across the Atlantic, according to Zimbalist.

A robust turnout in Fort Lauderdale bodes well for the industry because the show is considered a bellwether of the boat show season.

Zimbalist, a magazine publisher, bought Show Management earlier this year from founder Kaye Pearson. He also presented a brief, optimistic overview of the industry: fuel prices have fallen; interest rates appear to be stabilizing; the hurricane season this year has been mild; and the Dow Jones is hitting new records.

Mayor Jim Naugle also gave his nod to the industry, which generates more than $18 billion to Florida’s economy. Of that, more than $13 billion is generated in South Florida. While tourism is on the rise in the city, with more than 10 million visitors last year, Naugle says the marine industry is even more vital to the local economy.

'The economic impact from the marine industry is greater than that of tourism,' he said.

Naugle says the city has had a long-standing relationship with the Bahamas, and will continue to work with the island nation to boost boating and tourism in the southeast.

With dwindling marina access in South Florida, Prime Minister Christie says it makes sense to develop marinas and other infrastructure to accommodate visiting boaters in the Bahamas.

'I don’t have to make a case that the Bahamas has the prettiest water in the world,' said Christie.

Marina expansion in the Bahamas will not cut into South Florida’s marine economy, said Frank Herhold, executive director of the Marine Industries Association of South Florida.

'We need destinations and the Bahamas have always been easy to get to,' said Herhold, in an interview. And, he adds, consumers will continue to buy boats, stock up on provisions and get repairs in South Florida.


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