The London Boat Show, once the international showcase for the British marine industry, has scrapped its 2019 event following a lack of interest from exhibitors and waning attendances.

The event’s organiser said it made the decision after it became clear there was “insufficient support from a large proportion of the marine industry”. Sales staff at British Marine, the industry group that runs the show, had reported a “significant” lack of commitment from boatbuilders for the show, which also received subpar reviews from attendees at this year’s show.

“The decision to put the London Boat Show on hold is naturally very disappointing for the British marine industry,” David Pougher, the president of British Marine, said. “But British Marine and its board of directors has a responsibility to its members and we cannot commit to running a show which is clearly forecasted in its current format to be commercially unviable and will not meet customer satisfaction levels.”

British Marine said it would focus on the more popular Southampton Boat Show. A fall in the pound in the wake of the EU referendum helped fuel a boom in British boatbuilding because the majority of UK-built yachts are sold overseas. Boats and equipment sales totalled £3.1bn last year – a 3.4% increase on 2016.