With the autumn sun shining, clear skies overhead and some of the world’s most impressive yachts gently bobbing in South Florida With its calm blue waters, the Fort Lauderdale International Boat Show (FLIBS) doesn’t just attract people to buy boats – it entices them to participate in a years-long migration of wealth and population.
“There are a lot of things driving migration to South Florida,” said Daniel de la Vega, president of ONE Sotheby’s International Realty. “Job growth has been unprecedented…We have seen companies across many different industries continue to move to South Florida.”
“I think Florida is a wonderful place to live, work and play,” said Kurt Drstvensek, director of Related Group. “It’s a business-friendly place, the weather is great, the people are very friendly, and I think it will continue to attract more people of different demographics and wealth to the state.”
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“I think the crowd, the energy and the buyer demographics cut across all markets,” said Jimmy Tate, CEO and co-founder of Tate Capital. “Many of them end up buying here and staying here, their second home or permanent home.”
The boat show started Wednesday and lasts five days and features yachts, boats, boat accessories and maritime clothing. (Getty Images)
FLIBS is celebrating its 66th year and holds the title of the world’s largest boat show in the world. It generates almost $1.8 billion annually for the local economy, with the city’s mayor saying 2025 will be the “most successful year in history”.
Fort Lauderdale’s Downtown Development Authority recently released a Fueled by Water report showing that over $12 billion was invested in new waterfront projects last year, with 70% of residents living within 10 minutes of the water, supporting a $43 billion city economy. The global yachting industry alone is worth $36 billion, according to the report.
“The boat show not only increases visibility, but it provides a lot of jobs for so many people. There could be $800 or $900 million worth of boats sold over the entire weekend, equipment, engines and things like that,” Trantalis said. “And that’s not even counting the people buying apartments or buying cars, because there are people here selling cars too… It creates an opportunity for the city to really shine.”
“We are the water sports capital of the world,” Tate said. “A lot of people keep their yachts here at Bahia Mar all year round after they buy them… So it’s great for the economy, it’s good for South Florida, it’s great for boat sellers and the manufacturers and the people involved in the marine industry. So it really helps everyone.”
“Fort Lauderdale has really come into its own. It’s no longer Miami’s quiet neighbor, and it’s really driven by investment here,” de la Vega said. “People come, they look at yachts, they have fun, they understand our lifestyle… and then of course they get interested in real estate… and then eventually they want to make an investment here in Fort Lauderdale, or they want to make it their home.”
“They come to look at yachts, but at the end of the day they buy real estate. And for us that’s a huge win,” he continued.
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Watching the wealth migration in motion during the boat show, business leaders highlight the event as a defining factor for the spirit and culture of South Florida.
Fort Lauderdale Mayor Dean Trantalis speaks with FOX News Digital about the economic impact of the city’s annual International Boat Show.
“The Fort Lauderdale International Boat Show [has] just a great and rich history,” said Drstvensek. “The boat show has a great energy and South Florida certainly has the same energy, if not more. So they fit together perfectly. . . . From our side in real estate development and the development of this iconic [St. Regis Bahia Mar] ownership, it just emphasizes it and brings people here.”
“All of South Florida is experiencing a wonderful renaissance, especially Fort Lauderdale… has seen tremendous population growth,” the mayor said. “It’s an amazing migration from all parts of the country, whether it’s the Midwest, the Northeast or even the West Coast… It’s so easy to live here. It’s much more reasonable if you’re trying to get ahead economically.”
Trantalis shared a story about the event: “A gentleman came up to me… he said, ‘Mayor, I want you to know that I have an investment banking firm in New York, and we are moving my entire staff, my entire family to Fort Lauderdale… because we have come to experience what paradise is like here in your city.”
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 pivot and make sure that we’re not just relying on hospitality,” Trantalis said, “but that we can find a way for people to create a career path for themselves that takes them in their own direction.”
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“[The next phase] Continued growth will be continued growth,” Drstvensek assured. “I think people have come here from the Northeast, Texas, the Midwest, all over the world, and they’re going back to the places where they used to live and talk to friends, and you’re hearing more and more people who want to come here and not just vacation, but really want to make it a home.”
“This is just the beginning,” De la Vega said. “But this is really what drives people: when you come here and experience this lifestyle and the different locations… this is really what drives communities in South Florida to continue to be the aspiration for people around the world.”
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