Tourism in Florida Delivers $133.6 Billion in Economic Impact, Nearly $2,000 per Household in Tax Savings in 2024

TALLAHASSEE, Fla. ~ TALLAHASSEE, Fla. - According to the latest study by VISIT FLORIDA, the state's tourism industry has made record-breaking economic contributions to Floridians in 2024. The study, titled "2024 Economic Impact of Tourism," revealed that the industry generated a whopping $133.6 billion in economic impact and saved Florida's 9+ million households nearly $2,000 each in taxes.

The study also showed that out-of-state visitors spent a total of $134.9 billion in Florida last year, marking a 3.0% increase from 2023. Of this amount, Americans contributed $120.1 billion while international visitors contributed $14.8 billion. What's even more impressive is that for every dollar spent by a visitor, 99 cents remained in Florida's economy.

Aside from its economic impact, tourism also played a significant role in supporting Florida's workforce and tax base. The industry provided jobs for 1.8 million people and generated $79.9 billion in wages in 2024 alone. Additionally, tourism-related activities produced a total of $33.6 billion in federal, state, and local taxes.

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Governor Ron DeSantis acknowledged the crucial role of tourism in Florida's economy and emphasized how the state prioritizes freedom and safety to attract visitors from all over the world.

"Our tourism industry is critical to Florida's strong economic position," said Governor DeSantis. "Florida remains the top destination for travelers from across the country and the world because we prioritize freedom and safety. Tourism fuels jobs and keeps Florida's economy strong."

Bryan Griffin, President and CEO of VISIT FLORIDA, also highlighted the significance of tourism for Florida's economy.

"Tourism drives Florida's economy," said Griffin. "This new data from VISIT FLORIDA's economic impact study demonstrates the value of Florida's investment in tourism and tourism marketing. Florida's 9.1 million households are saving nearly $2,000 a year because of the tax revenues generated by Florida tourism. VISIT FLORIDA will continue to responsibly steward this valuable investment for Florida's residents."

The study, conducted by Rockport Analytics, also revealed other notable highlights. In 2024, Florida welcomed a record-breaking 143 million visitors, and out-of-state visitor spending increased by 3.0%. The travel and tourism sector also contributed 7.8% to Florida's Nominal Gross State Product (GSP), with a total of $133.6 billion.

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Furthermore, the study showed that for every dollar spent by a visitor, 99 cents stayed in Florida's economy, with 59 cents supporting worker salaries. This is an increase from the previous year where 97 cents of every dollar remained in the state's economy.

Without tourism, Florida households would have to pay an additional $1,730 annually in state and local taxes alone to sustain current levels of revenue. The industry also supported employment growth of 1.8%, reaching a total of 1.8 million jobs in 2024.

Lastly, tourism-supported wages totaled $79.9 billion, including $44 billion in direct wages, representing a significant growth of 4.6% from the previous year.

Overall, the study confirms that tourism is a vital contributor to Florida's economy and plays a significant role in supporting its residents' financial well-being. With these record-breaking numbers and continued efforts from organizations like VISIT FLORIDA, the state's tourism industry is expected to continue thriving in the years to come.

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