Research Library

Tourism

Tourism in Central Florida: Why Tourist Development Tax Revenue Should Not Be Diverted

Energy & Environment, Research, Taxes, Tourism
/ Energy & Environment, Research, Taxes, Tourism / 3 minutes of reading

Each year, more than one hundred million visitors come to Florida to enjoy its beaches, warm temperatures, and its numerous parks, thrills, and attractions. Latest FloridaCommerce data confirm that Florida set a new all-time annual record in calendar year 2024 with 143 million visitors an increase of 1.7 percent over the previous record set in 2023. Out-of-state visitors to Florida spent $134.9 billion in calendar year 2024. For every $1 spent by a visitor, 99 cents stayed in Florida’s economy, with 59 cents supporting worker salaries. Tourism supported 1.8 million jobs in 2024 and generated $79.9 billion in wages, including $44 billion in direct wages. Tourism-related activity produced $33.6 billion in federal, state, and local taxes. Tourism accounted for 7.8 percent of Florida’s Nominal Gross State Product (GSP), contributing $133.6 billion to the state’s economy in 2024. Without tourism, Florida households would pay $1,730 more annually in state and local taxes alone to sustain current levels of revenue.

2024 Florida Legislative Session Wrap-Up

Budget/Approps, Corrections/Judicial, Economic Development, Education, Energy & Environment, Health Care, Research, Retirement, Taxpayer Guide, Tourism, Transportation
/ Budget/Approps, Corrections/Judicial, Economic Development, Education, Energy & Environment, Health Care, Research, Retirement, Taxpayer Guide, Tourism, Transportation / 1 minute of reading

The 2024 Florida Legislative Session Wrap-Up offers a concise yet thorough review of the session’s key outcomes. With a $117.5 billion budget, over $1 billion in tax relief, and nearly $10 billion in reserves, the Legislature addressed crucial issues in healthcare, education, insurance, and the environment. The report provides an insightful overview of the bills and budget items that passed, as well as notable legislation that failed to advance, making it an essential resource for understanding the current state of Florida policy and its implications for residents and taxpayers.

2024 Update: Long-Term Rental Markets In Florida

Housing Affordability, Research, Tourism
/ Housing Affordability, Research, Tourism / 1 minute of reading

This Florida TaxWatch commentary highlights the imbalance between the demand and supply of rental units in the state, leading to rising rental costs. The document notes significant increases in rental prices since the pandemic, with specific emphasis on metropolitan areas like Miami, Tampa, and Jacksonville. It also addresses the impact of these rising costs on Florida’s workforce and economy, including the implications for cost-burdened households. The paper further examines state-to-state migration trends, particularly focusing on Florida residents moving to Georgia for more affordable housing options. The overall narrative suggests a complex interplay between economic factors, housing market dynamics, and demographic shifts in Florida’s rental market.

The Impact of Unlicensed Vacation Rentals on Florida’s Economy

Housing Affordability, Research, Tourism
/ Housing Affordability, Research, Tourism / 2 minutes of reading

“Unlicensed Vacation Rentals: An Analysis of Florida’s Tourism-Driven Economy” provides an in-depth analysis of the unlicensed vacation rental market in Florida. It highlights the significant impact these rentals have on the state’s tourism economy, including issues of tax evasion, safety concerns, and unfair competitive advantages over licensed properties. The research reveals a notable prevalence of unlicensed rentals in Florida, which, in 2022, constituted a significant proportion of the state’s temporary public lodging units. The study brings to light how operators of these unlicensed rentals often circumvent tax obligations, thus negatively impacting the state’s revenue and creating an unlevel playing field in the tourism sector. This paper includes recommendations for stricter enforcement of licensing regulations, improved transparency in rental operations, and more efficient tax collection mechanisms to address these challenges. The paper serves as a critical resource for policymakers, business owners in the tourism sector, and tax authorities, providing essential insights to inform decisions and strategies aimed at ensuring a fair and regulated tourism industry in Florida.

Session Spotlight: Not Funding VISIT FLORIDA Would Hurt Tourism Promotion and Florida’s Economy

Blog, Economic Development, Research, Tourism
/ Blog, Economic Development, Research, Tourism / 2 minutes of reading

Tourism plays a major role in Florida’s economic strength. More than 142 million tourists are expected to visit Florida in 2023. In 2019, 131 million visitors spent nearly $100 billion, supporting 1.6 million Florida jobs that paid $57 billion in wages. The spending generated $12.7 billion in state and local taxes. Without the state and local taxes generated by tourism, each Florida household would have to pay as much as $1,420 in additional taxes just to maintain the current level of government services.

Florida’s FY2022-23 State Budget

Budget/Approps, Corrections/Judicial, Economic Development, Education, Energy & Environment, Health Care, Insurance, Research, Taxpayer Guide, Tourism, Transportation
/ Budget/Approps, Corrections/Judicial, Economic Development, Education, Energy & Environment, Health Care, Insurance, Research, Taxpayer Guide, Tourism, Transportation / 2 minutes of reading

Florida TaxWatch is pleased to present taxpayers with a guide to the FY2022-23 state budget, which went into effect July 1, 2022. The report includes all appropriations for the new fiscal year— the General Appropriations Act (GAA), “back-of-bill” spending, and general bills—net of the Governor’s vetoes.

2022 Florida Legislative Session Wrap-Up

Budget/Approps, Corrections/Judicial, Economic Development, Education, Energy & Environment, Health Care, Research, Retirement, Taxpayer Guide, Tourism, Transportation
/ Budget/Approps, Corrections/Judicial, Economic Development, Education, Energy & Environment, Health Care, Research, Retirement, Taxpayer Guide, Tourism, Transportation / 2 minutes of reading

The 2022 legislative session is over, even if it ran a little long. Florida TaxWatch and the state’s taxpayers had a number of successes. Many bills and budget issues supported by our research and recommendations passed. Our research and input that raised concerns with legislation, helped to improve them or fail passage, including changes to the tax audit system and a very costly approach to improving data privacy

A Rising Tide Sinks All Homes – The Effects of Climate Change on Florida’s Economy

Economic Development, Education, Energy & Environment, Health Care, Hurricane Ian, Insurance, Research, Retirement, Taxes, Tourism, Transportation
/ Economic Development, Education, Energy & Environment, Health Care, Hurricane Ian, Insurance, Research, Retirement, Taxes, Tourism, Transportation / 2 minutes of reading

With more than 8,400 miles of coastline and a flat, low-lying coastal topography, Florida is especially vulnerable to the effects of sea level rise. Tens of thousands of Florida homes and businesses are at increased risk from sea level rise. Much of Florida’s critical infrastructure is at low elevations, designed and built with little consideration of future sea level rise. The physical effect of changing climate translates into real economic impacts.

Derailing Brightline – The Cost of Taxpayer-Funded Lawsuits

Economic Development, Local Government, Research, Tourism, Transportation
/ Economic Development, Local Government, Research, Tourism, Transportation / 2 minutes of reading

When completed, the new Brightline train will pass through the Treasure Coast region of the state without any planned stops. This has prompted local governments in the Treasure Coast region to pursue legislative and legal remedies in an attempt to derail Brightline. This report looks at these actions, and whether they are in the taxpayers best interest.

The Show May Not Go On: An analysis of the cost of severe cuts to Florida’s tourism marketing

Budget & Appropriations, Economic Development, Research, Taxpayer Guide, Tourism
/ Budget & Appropriations, Economic Development, Research, Taxpayer Guide, Tourism / 3 minutes of reading

Florida tourism is an absolutely critical industry to the state, employing millions of people and contributing millions of dollars to state coffers. Despite its importance to the Sunshine State, tourism is in the crosshairs of the Florida House, a costly decision according to this report.

Welcoming the World

Economic Development, Research, Tourism
/ Economic Development, Research, Tourism / 1 minute of reading

Tourism is vital to the economy of Florida, and with the recovery of the world economy, international travel across the world is reaching record highs. This, coupled with data showing the major positive impact international tourists have on economies, provides evidence that Florida should expand its efforts when it comes to attracting foreign visitors to the state.

Economy Heating Up in South Florida

Economic Development, Local Government, Research, Tourism
/ Economic Development, Local Government, Research, Tourism / 2 minutes of reading

Over the past few years Florida’s economy has been on the rise, finally shaking off the economic pain from the great recession. This positive growth has helped stimulate development in South Florida in particular. In a recent survey, more than 80% of small businesses in South Florida reported that they expect to meet or exceed their 2015 revenue targets. And the economic growth is not limited to small businesses; the South Florida Region has also seen a growth in sectors such as construction, financial services, innovation, and more.

Florida Is The World’s Port Of Call

Economic Development, Research, Tourism, Transportation
/ Economic Development, Research, Tourism, Transportation / 2 minutes of reading

Florida residents are keenly aware that tourism is an important economic engine providing power to the state economy, and several Florida TaxWatch publications provide economic data supporting this observation. Tourism is one of the top providers of jobs for Floridians and a serves as a major source of tax revenue for the state.

The Lionfish: Threatening Native Fish and Florida’s Fishing Industries

Energy & Environment, Research, Tourism
/ Energy & Environment, Research, Tourism / 2 minutes of reading

The lionfish, native to the Indo-Pacific region, is an invasive species in the Atlantic Ocean and Caribbean that devours native fish and competes for food with native predators, and represents a threat to several important industries in Florida, including sport and commercial fishing, and to the health of coral reefs and the biodiversity in our waters.

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