For over 100 years, Miami and The Beaches have been one of the world’s premier destinations for leisure and recreation. From the pristine tropical environment – warm and sunny year-round – to the rich selection of cultural and commercial attractions, there is something for everyone here.
Given all that, it is little surprise that recent data from the Greater Miami Convention & Visitors Bureau found that over 14.6 million people visited Miami-Dade County 2014 – 400,000 more than in 2013, and an all-time high in the county’s history. Consider that the county has 2.6 million residents, and you get an idea of just how many people are pouring in every year.
Altogether these tourists injected an estimated $23.8 billion into the local economy, which was over a billion more than in 2013. A wide range of industries benefited from this massive market, which is almost eight times bigger than the local one.
Perhaps unsurprisingly, Miami Beach accounted for almost half of overnight stays, followed by Downtown Miami at 19.2 percent, the MIA area (12.8 percent), and Sunny Isles Beach (8.8 percent).
Given the city’s notably cosmopolitan culture, it has always been a popular destination for foreign travelers, who made up half of all tourists. Known as the “Gateway to Latin America”, Miami was especially popular among visitors from that continent: Brazilians accounted for the most, followed by Canada, Colombia, Argentina, and Germany.
Out of domestic visitors, New Yorkers comprised the most at 2 million, followed by Chicago at just 500,000 – a testament of the region’s popularity in the Big Apple.
Of course, most visitors – 75.9 percent – cited leisure as the purpose of their visit. Close to 90 percent said they would definitely or likely to return, reflecting Miami’s ability to deliver the goods when it comes to lifestyle and leisure choices.
Given all this, is it any wonder that the market for Miami Beach Luxury Real Estate is booming? Who wouldn’t want to own a piece of the city that millions from all over the world come to enjoy? We offer a range of Luxury Condos in Miami Beach that bring you close to all the action. Call 305-982-7405 to learn more.