It's no secret that Florida was hard hit by the Great Recession, but foreign tourism has helped the state's economy recover in the last four years.
According to Visit Florida, 2013 was a record year for Florida's tourism industry, with 94.7 million visitors visiting the state over the course of the year. The figure was up 3.5 percent from the previous year, continuing a trend that has seen Florida rise to second position in terms of annual international tourist volume (behind only New York).
The increased tourist numbers have aided Florida's economic recovery, with the effects of their spending continuing into 2014. The Sunshine State's tourism and recreation industry has seen a 6.4 percent rise in spending since last year, according to the latest estimates from Washington Economics Group. According to the American Security Project, the industry as a whole produces about $70 billion in revenue per year. shop for sale in qatar
Brazilian visitors accounted for a significant portion of the increase in visitor numbers to Florida in 2013, as they did to several other US destinations. According to data from the US Department of Commerce, Brazilian visitors to the US increased by 15% from 2012 to 2013, and the Office of Travel and Tourism Industries predicts a 50% rise in Brazilian tourists by 2018.
For many visitors, whether from Brazil or elsewhere, Florida is the top destination. Its sun, beaches, and theme parks are a winning combination that leaves many tourists yearning for more than just a vacation.
Miami and Orlando are the major tourist destinations in Florida for Brazilians. The beach lifestyle, abundant high-end shopping and real estate options in Miami, and Walt Disney World in Orlando for their children are driving these two Florida tourism markets for Brazilians.
"We're seeing a growing number of clients searching for a lifestyle property in Florida, which they can use for part of the year and rent out the rest of the year," says Philip Button, Managing Director of specialist property investment company Brookes & Co. It's the ideal combination of personal gain and sound financial judgment."
The Fountains at ChampsionGate, which Brookes & Co launched in the UK market in collaboration with developer Feltrim and sold out in record time, demonstrates the high demand for such holiday accommodation. However, demand for more conventional investment properties is still high."
"Florida is for more than just tourism," Button continues. Despite the fact that tourism is a major part of the state's narrative, we get a lot of requests from clients looking for pure investment properties like single family homes and fully rented condos."
As a result of these requests, Brookes & Co has launched its newest offering: 17 completely tenanted, owned and operated condos starting at $69,500. The well-located properties provide high-quality living accommodations for their tenants, ensuring investors optimize their returns with long-term yields and excellent capital growth potential.
Investment in such properties by foreign buyers is helping to further stimulate Florida's economy, ensuring that the state's tourism future is bright.