MIAMI.— A report released this November 25 by the office of Governor Ron DeSantis, based on the Economic & Fiscal Impact of Tourism in Florida 2024 study prepared by Rockport Analytics for VISIT FLORIDA, revealed that the tourism industry generated a record economic impact of 133.6 billion dollars and allowed the more than 9 million Floridian households to save nearly 2,000 dollars in taxes during the last year, consolidating the sector as the driving force economic of the state.
According to the report, the 143 million visitors who came to the state in 2024 drove a 3% growth in out-of-state traveler spending, which reached $134.9 billion. Of that total, American visitors contributed $120.1 billion, while international visitors contributed $14.8 billion. For every dollar spent by a tourist, 99 cents stayed in Florida, improving the economic retention recorded in 2023.
“Tourism is critical to Florida’s economic strength,” said Governor Ron DeSantis, noting that the state continues to be “the leading destination for travelers from across the country and the world because we prioritize freedom and safety.”
For his part, Bryan Griffin, president and CEO of VISIT FLORIDA, pointed out that the figures demonstrate “the value of the state’s investment in tourism and tourism marketing,” highlighting that households save “almost $2,000 a year thanks to the tax revenues generated by the sector.”
Contributions to the Florida economy
The report details that tourism represented 7.8% of Florida’s Gross State Product (GSP) in 2024, supporting 1.8 million jobs, a growth of 1.8% compared to the previous year. Activities linked to the sector generated 79.9 billion dollars in salaries, of which 44 billion corresponded to direct remunerations. This implies a year-on-year increase of 4.6%.
In fiscal matters, tourism produced 33.6 billion dollars in federal, state and local taxes, an increase of 3.3% compared to 2023. Without these contributions, the study indicates, each household in the state would have to pay an additional 1,730 dollars per year to maintain current collection levels.
Main results of the 2024 report
- Total economic impact: $133.6 billion.
- Total visitors: 143 million, a record number.
- Out-of-state visitor spending: $134.9 billion (+3%).
- Financial retention: 99 cents for every dollar spent.
- Contribution to GSP: 7.8% of the state economy.
- Tax generation: $33.6 billion.
- Supported jobs: 1.8 million.
- Salaries generated: $79.9 billion.
The study reinforces the role of tourism as one of Florida’s fundamental pillars and as a fiscal buffer for its residents, at a time when the state’s economy continues to expand thanks to the constant flow of national and international visitors.
()
