With its miles and miles of canals, it is no wonder that Ft. Lauderdale is one of the world’s premier yachting hubs. Ft. Lauderdale has hundreds of marinas, wonderful yachting destinations, dockside restaurants, and of course, is the home to the prestigious Ft. Lauderdale International Boat show, or FLIBS, which begins this week.
All of which attract yachts and superyachts to the area, by the boatload, and that means big business in supporting all of those vessels. In fact, according to the Marine Industries Association of South Florida’s most recent study, yachts in Broward Country are responsible for $3 billion yearly in wages and earnings and for more than 110,000 jobs.
Recently, ahead of FLIBS, which begins on November 1st, and runs through Sunday, November 5th, the Sun-Sentinel, took a detailed look at the impact of just a single superyacht making port in Ft. Lauderdale. “I can spend up to a half a million dollars a month on local vendors,” said the captain of a 178-foot motor yacht, which employs 14 full-time crew members. The captain, who chose to remain nameless, told the Sentinel that his busy charter yacht spends about three months out of the year in Fort Lauderdale, stopping in twice a year between seasons. He shared with the paper, his expenditures from a two-month visit in late 2016, during which time he says he spent “$643,164 locally.”
Just over a third went to repair and maintenance, including a full exterior paint job ($142,746). This is typical of all the yacht’s visits, the captain said. “Every time we come in we are going to get work done.”
The captain, added, “…that’s how it is for all the big boats. No one I know comes to Fort Lauderdale just to sit; if you’re not getting something done, you need to be somewhere else.” He said that “something done,” means hundreds of thousands of dollars spent on various onboard systems and boat supplies, including electronics, carpentry, safety equipment and machinery.
The Sentinel’s report went on to say that, during the time here, other marine businesses that benefited from the superyacht’s visit were uniform stores ($11,190), insurance companies ($6,726), chart sellers ($4,243) and maritime training schools ($1,508). The captain also spent $14,255 for day laborers to work temporarily on board.
And remember, this is all for a single yacht! Show Management, the company that organizes FLIBS, says the annual boat show brings more money to the area than a Super Bowl!
On Demand Yachting at FYM
At Florida Yacht Management, we are proud to be part of South Florida’s burgeoning marine economy. Our goal is to support yacht owners in every way we can, but primarily by removing all the hassles of owning a luxury motor yacht. It is all part of a unique business model we call, On Demand Yachting.
As an On Demand client, not only will you be sure that your yacht is kept in tip-top operating condition through a tailor-made program of routine and planned maintenance, but, you will gain access to one of Ft. Lauderdale’s most acclaimed marina’s — Marina Bay. With all of those yachts and superyachts attracted to Ft. Lauderdale for all of the reasons mentioned above, dock space is at a premium.
Marina Bay is located in the epicenter of Ft. Lauderdale’s yachting capital. It not only is home to some of the finest, secured slips in the area, but, it is home to the Marina Mile Yachting Center, a full-service shipyard that is staffed by some of the best marine professionals and contractors in the South Florida yachting industry.
When your yacht is docked at Marina Bay, you not only have the sense of security and pride that comes with premium dock space, you will have access to the high-caliber service network of The Yacht Center for more complicated refits, maintenance and marine supplies.
In addition, when and if you are ready for a refit or upgrade of your yacht, our refit specialists are here for you. We can modernize all of your yacht’s critical systems from the electronics to her engines, as well as make any interior or exterior repairs, making her as good, if not better, than the day you bought her!
Operating a motor yacht can be costly. You can reduce your expenses, and avoid costly repairs by keeping her well maintained. On Demand yachting from FYM can help. If you would like to learn more, or if you have any questions or comments about this blog post, do not hesitate to contact our Yacht Management specialists, or call us at (954) 900-9968.
[main image: Wiki Media: https://commons.wikimedia.org/wiki/File:Fort_Lauderdale_Skyline.jpg]
Back to news & articles