Newport, R.I. – The Newport International Boat Show announced today that the total economic impact on Newport County as a result of this year’s show amounted to $26.1 million, according to an economic impact study conducted by Performance Research.
Completed November 2022, the study shows that the Newport International Boat Show, as the premier show in New England and one of the largest in-water events in the country, has had a substantial, positive effect on the local economy, drawing over 40,000 in attendance, the vast majority of whom were from out of state and many of whom traveled internationally. Boats on display at the Newport International Boat Show had an estimated worth of $175 million, with boat sales estimated at $35-40 million, not including marine products, services, clothing and accessories.
“After 51 years of proven impact, this just cements our status as an economic driver in Newport and far beyond,” said Lisa Knowles, Show Director of Newport International Boat Show. “Our show is a quintessential Newport experience, proven time and time again to be a true partner for our State and local community while also driving economic goals for all. With our widespread draw we continue to play an important role in the success of the marine trades businesses and recreation, as well as a leading destination for travelers.”
“The Newport International Boat Show has had a tremendous impact on the city of Newport, the economy of Rhode Island and the success of the marine industry,” said Brian Dursi, Executive Director of the Rhode Island Marine Trade Association. “For more than 50 years the show has been essential for the growth, prosperity and stability of local marine businesses including boat builders, dealers, marinas, accessory manufacturers and marine services across the Ocean State.”
Economic impact highlights:
- $26.1 million in economic impact for Newport County
- The most benefitted sector was hotels, with $5.3 million
- Other high-earning sectors included restaurants, transportation, and retail goods totaling close to $10 million
- The Show brought in $4 million in state and county taxes
- There were 218 full-time equivalent jobs created in Newport County
The Newport International Boat Show encompasses over 14 acres of Newport’s famed waterfront and hosts hundreds of exhibitors, dealers and manufacturers, showcasing new powerboats and sailboats, as well as marine equipment, services and accessories.
The 2023 Newport International Boat Show is scheduled for September 14-17, 2023. For more information, visit www.newportboatshow.com. The complete economic impact study is available upon request.