Known worldwide as the “Yachting Capital of the World,” Greater Fort Lauderdale enjoys a thriving recreational marine industry that contributes an economic impact of $9 billion in Broward County, and $12 billion in the South Florida region, according to the Marine Industries Association of South Florida (MIASF), recipient of the Greater Fort Lauderdale Alliance 2017 Economic Development Partner of the Year award.
Greater Fort Lauderdale's marine industry is comprised of world-class shipyards, marinas, manufacturing, wholesale and retail marine products, brokers, dockage, and every conceivable type of marine service, all supported by more than 142,000 jobs regionally - 111,000 in Broward County alone, with $4 billion in wages and earnings that are typically 16 percent higher than the state average. Approximately 2,000 mega-yachts (vessels measuring 80 feet or more) visit the county each year.
Crews on any size vessel can earn both regulatory and non-regulatory qualifications, from entry-level through senior management positions, from Greater Fort Lauderdale’s maritime training options. The Broward County public school district offers an educational development ladder that begins with a marine magnet program at New River Middle School, continues at South Broward High School and can culminate with certification at the marine service tech program at McFatter Technical College or the marine engineering and marine mechanics programs at Broward College.
Port Everglades: Located in the heart of Greater Fort Lauderdale, Port Everglades is one of the world's busiest cruise ports and enjoys the distinction of having the most homeported cruise ships. Disney Cruise Line recently selected the port as its second homeport.
Port Everglades is one of the world's busiest cruise ports with more than 3.0 million passengers in fiscal year 2023 and forecasts over 3.6 million guests will travel through the port in FY2024.
In 2022, the most recent economic impact study by Martin Associates showed that economic activity at Port Everglades injects more than $33 billion into the economy annually and supports 9,584 direct local jobs and 216,453 jobs statewide. Port Everglades also generates nearly $1.2 billion in state and local taxes.
The port has Florida's first and largest Foreign Trade Zone. It is the region's main seaport for receiving energy products, including gasoline, jet fuel and other petroleum products. About 15% of all U.S.-Latin American trade moves through Port Everglades, the number one refrigerated cargo port in Florida. Overall, the port's shippers serve more than 150 ports in 70 countries around the world.
The Fort Lauderdale International Boat Show, owned by MIASF and produced by Informa Exhibitions, is the world’s largest in-water boat show with more than 1,500 boats, 1,000 exhibitors and more than 100,000 visitors from 52 countries. The 62nd Annual Fort Lauderdale International Boat Show economic impact study concluded that the annual show contributes $1.79 billion to the state’s overall economy, with $899 million in direct sales, or more than $179.8 million each day!
Due to the size, scope, and popularity of the boat show, South Florida has become known as the yachting refit and repair capital of the world with a global reputation for excellence. Phil Purcell, MIASF's CEO/President said, “The economic impact of the boat show dwarfs that of any Super Bowl, and it happens year after year.”
Marine Research Hub of South Florida: Greater Fort Lauderdale is nationally recognized for its leadership in oceanographic research. In 2016, the South Florida Marine Research Hub® Consortium was founded to foster collaboration among research, education, business and economic development organizations. It establishes the region as a global leader in oceanographic research that is making, or may make, a positive impact on the health of the oceans and bring substantial benefits to the global population.
In October 2019, Fort Lauderdale hosted the 9th Annual Ocean Exchange, which featured twelve innovative, sustainable worldwide solutions that demonstrated the ability to generate economic growth and increase productivity while reducing the use of nature's resources.
Founding members of the Marine Research Hub include Florida Atlantic University, Florida International University, Nova Southeastern University, University of Miami, Business Development Board of Palm Beach County, Greater Fort Lauderdale Alliance, Miami-Dade Beacon Council and Marine Industries Association of South Florida.