The 34th annual Sarasota Powerboat Grand Prix Festival, held June 23 to July 4, made an economic impact to the southwestern Florida city to the tune of $21.9 million, according to a recent report. The $21.9 million figure actually represents a decline from last year’s event, in which $36.2 million was generated, and is indicative of a general downward trend in recent years.
Net proceeds surpassing $100,000 were raised for Suncoast Charities for Children, which produces the event, according to the report conducted by Research Data Market Research. The nonprofit organization provides services for special-needs adults and children.
The festival’s signature event is an offshore muscleboat race that attracts hundreds of thousands of spectators. Full coverage of the event was featured in the August 2018 issue of Speedboat Magazine.
The 2019 event is scheduled for June 28 to July 7.