Florida Tourism

Abstract

Tourism is one of the largest economic industries in Florida. In 2015, a record 106.3 million tourists visited Florida (about five visitors per resident), with an economic impact of about $90 billion. Tourism also provides additional benefits for federal, state, and local governments in the form of taxes (e.g., excise, sales, income, and property taxes). In Florida, tourism accounts for over one million direct jobs and an additional 1.5 million indirect and supply chain jobs. The three industries or business sectors most impacted by tourism and currently experiencing substantial growth in the state, include: leisure and hospitality (e.g., hotels, restaurants, museums, amusement parks, entertainment), transportation (e.g., cruise ships, taxis, airports), and retail trade (e.g., gas stations, retail stores). The 106.3 million tourists comprise approximately 91.2 million out-of-state visitors, 3.9 million Canadian visitors, and 11.2 million overseas visitors. The domestic visitors are anticipated to grow by 20% in 2018. Tourism and the associated industries in Florida are highly vulnerable to climate change over time. The state population and real estate markets continue to grow in the coastal areas, with corresponding increases in property values at risk. In addition, there are losses associated with the properties used to mitigate the effects of climate change. In summary, indicators of climate change, such as higher sea levels and more frequent and powerful hurricanes and other extreme weather events, have the potential to severely impact the tourism industry in Florida.