Florida has been a top tourist destination for decades, drawing millions of visitors from all over the world each year. But just how much does the state earn from tourism? Let’s take a closer look.
Florida Tourism Industry Overview
According to the Florida Department of Economic Opportunity, the state welcomed 131.4 million visitors in 2019, which was an increase of 3.3% over the previous year. These visitors spent a whopping $91.3 billion in Florida, which generated $57.4 billion in direct economic impact and $23.8 billion in wages.
The Impact on Local Businesses
Tourism has a significant impact on local businesses throughout Florida. The industry supports more than 1.5 million jobs statewide and accounts for over 13% of employment in the state’s private sector.
Many businesses rely heavily on tourism to stay afloat, including hotels, restaurants, and amusement parks. In fact, Orlando alone is home to Walt Disney World Resort, Universal Orlando Resort, and SeaWorld Orlando – all major tourist attractions that employ thousands of people.
Tourism Taxes and Revenue
To help fund marketing efforts and support tourism-related programs and services, various taxes are imposed on visitors to Florida.
One such tax is the state’s transient rental tax, also known as the bed tax. It is charged on short-term rentals such as hotel rooms and vacation rental homes and varies by county. In 2020, this tax generated more than $1 billion in revenue statewide.
Another tax is the sales tax charged on purchases made by tourists while visiting Florida. In 2019 alone, this generated nearly $6 billion in revenue for the state.
The Future of Florida Tourism
While tourism has taken a hit due to COVID-19 pandemic restrictions since March 2020 – with fewer visitors coming into Florida and less revenue generated – there is still hope for the future of the industry as vaccines become more widely distributed.
The state government and various agencies are working to promote Florida as a safe and attractive destination for tourists, with a focus on outdoor activities such as beaches, parks, and wildlife encounters.
Conclusion
In conclusion, tourism is a vital industry in Florida that generates billions of dollars in revenue each year, supports millions of jobs, and provides significant benefits to local businesses. The state remains committed to promoting itself as a top travel destination, even during challenging times like the COVID-19 pandemic.