Sanctuary Cove International Boat Show: Event worth nearly $500m to Gold Coast economy
One of the Gold Coast’s biggest annual events has turned into one of its most valuable money-spinners. Hint: It’s not GC500 or Schoolies. FIND OUT WHY
Business
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ONE of the Gold Coast’s biggest annual events has turned into one of its most valuable money-spinners.
The Sanctuary Cove International Boat Show now injects nearly half a billion dollars into the economy, according to an independent report compiled by Griffith University.
This means it now trumps several of the other high-profile events including GC500 and Schoolies which contribute $50m and $30m respectively.
The report, which analysed the impact of the 2021 event, found it was valued at $471.46m, up from $336.27m in the 2019 pre-Covid weekend. While figures for the 2022 event are not yet available, organisers expected it will “eclipse 2021’s numbers.
Mayor Tom Tate said the value of major events was growing.
“The evolution of the Sanctuary Cove Boat Show is a story of constant renewal and organisers have never rested on their laurels and have consistently added new products and new experiences to the format,” he said.
“That’s what has given it the edge and allowed this event to become the leading show of its kind in the southern hemisphere.
“It also does wonders for our city’s reputation with our waterways, marine logistics facilities, marinas, superyacht berths and incredible lifestyle attributes put up in lights across the globe.’’
2022’s event brought in more than 45,000 visitors to see 607 boats displayed by 334 exhibitors.
Johan Hasser, events general manager of Sanctuary Cove owner Mulpha will on Thursday launch applications for the 2023 boat show.
Expansions to the northern Gold Coast enclave’s marina will allow for an extra boat berths, as well as a new 400sq m pavilion.
“With the success of the 2022 event, we have seen consistent inquiry from the industry eager to secure their space for 2023,” Mr Hasser said,
Among those planning a major exhibition will be Gold Coast firm Maritimo will celebrate its 20th anniversary in 2023.
Company boss Tom Barry- Cotter said: “It will mark the biggest show in Maritimo’s 20-year history and we will begin our anniversary celebrations, and the global launch of the two largest and most heralded motor yachts in its history – the M75 Flybridge Motor Yacht and the S75 Sedan Motor Yacht.”
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