How Resilient Is the Florida Economy?

How Resilient Is the Florida Economy?

The international face of Florida is tourism. That perception raises questions about the ability of the state economy to withstand an arrivals downturn in the wake of the Orlando nightclub attack. Those concerns may be fleeting. Some 100 million tourists visit the state annually, representing an inbound flow equal to the entire population of the Philippines. But the tourism sector is only half the size of agriculture on a contribution-to-output basis, while wages are well below those seen in the substantial aerospace and defense industry. The absolute size of the state economy totals some $840 billion. That figure is slightly larger than Malaysia on a purchasing power parity basis.

Learn more at Enterprise Florida.

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Image shows art installation at Miami airport called “Harmonic Convergence.” Credit: Korzeniewskidan at Can Stock Photo Inc.