Wealth migration relies on South Florida’s regional growth in the annual boat show
FOX News Digital reports from the Fort Lauderdale International Boat Show, where city and industry leaders discuss how the event’s hype is leading to widespread wealth and mass immigration.
As the sun sets, the sky lights up with some of the world’s most impressive yachts on sparkling water, the Fort Lauderdale International Boat Show (Flibs) not only attracts the migration of wealth and population.
“The good thing is that sometimes people who come here for the first time thinking they’re going to buy a boat, and they end up buying a home, or they end up buying a home, or they can live in it,” Fort Lauderdale mayor Dean Trantalis told Fox News Digital.
“There are many things that end up moving to South Florida,” said Daniel de la Vega, President of One Sotheby’s Real Estate. “The job growth has been unprecedented … We’ve seen companies continue to move here in South Florida across many different industries.”
“I think Florida is a great place to live, work and play,” said Kurt Drspensek, managing director of the affiliate group. “It’s a business-friendly place, the weather is amazing, the people are very kind, and I think it’s going to continue to draw a lot of foreign people and wealth to the state.”
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“I think the crowd and the energy and the personality of the consumer, transcends all markets,” said Jimmy Tate, CEO and founder of Tate Capital. “Many of them end up buying here and living here, their second home or their forever home.”
The Boat Show started on Wednesday, is held over five days and includes boats, boats, boating accessories, and marine clothing. (Pet Pictures)
Marking its 66th year, Flibs holds the title of the world’s largest boat show. Generating about 1.8 billion dollars a year for the local economy, the Mayor of the City says that 2025 will be the year “the most successful in history.”
Fort Lauderdale’s Downtown Development Authority recently released a report “pulled by the Water Report” that shows more than $ 12 billion invested in new projects managed in 10 minutes of economic support for water of $ 43 billion. The city’s urban sector alone is worth $36 billion, the report found.
“The boat shows that we don’t increase the visibility, but it also gives a lot of jobs to so many people. There can be sales of boats that cost $800 or $900 or things like that and so on,” said Trantalis. “And that’s not even counting people buying condos or buying cars, either, because there are people selling cars here and … it creates an opportunity for the city to really shine.”
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“We’re the yacht capital of the world,” Tate said. “Many people keep their boats here at Bahia Mar for a year after they sell them…
“Fort Lauderdale has really come in. It’s no longer a quiet neighborhood in Miami, and it’s really driving investment here,” De le Vega said. “People come, they look at the yachts, they have fun, they understand our way of life … And then, they find that they’re entering real estate … and then eventually they want to make money here in Fort Lauderdale or they look to make it their home.”
“They come to see yachts, but they end up buying real estate. And for us, that’s a big win,” he continued.
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Observing the migration of wealth to the flow of the boat show, business leaders promote the event as a defining element of the spirit and culture of South Florida.
Fort Lauderdale Mayor Dean Trantalis talks to FOX News Digital about the economic impact of the city’s annual boat show.
“The Fort Lauderdale International Boat Show [has] Just a big and rich history, “according to Drstvensek.” The Boat Show has a lot of energy and South Florida certainly has the same energy, if not more. So they are completely united together … From our side in the business of real estate development and created this icon [St. Regis Bahia Mar] property, it just highlights and brings people here. “
“All of South Florida is going through a great renaissance, especially Fort Lauderdale … it’s seen a tremendous amount of population growth,” the Mayor said. “It’s an amazing migration from all different parts of the country, whether it’s from the Midwest, the northeast, even the west coast … It’s very easy for you to live here.”
Trantalis told a story at the event: “A tough man came to me … he said, ‘Mayor, I want to have my own investment company in New York City, because we find that my Paradise is like this wheel of yours.'”
Looking ahead, city and business leaders say diversifying the local economy will define South Florida’s next phase of growth.
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“We want to be successful and make sure that we don’t just rely on adding visitors,” said Trantalis, “but that we can find a way for people to make their own way.”
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“[The next phase] will continue to grow, “it is confirmed that the dstrvensek.
“This is just the beginning,” said De Le vega. “But this is really what drives people, when you come here, you experience this way of life and different places … it’s really what communities drive South Florida to continue the desire of people around the world.”
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