With an average year-round temperature of 77 degrees and an annual 3,000 hours of sunshine, Fort Lauderdale is a popular tourist destination. But the city—widely known as the Venice of America and the Yachting Capital of the World—has emerged as much more than a Spring Break resort town.
Fort Lauderdale is the heart of a diversified high-growth region in South Florida and has established a reputation as a world-class international business hub. The marine, manufacturing, finance, real estate, insurance, high tech, television production and avionics/aerospace industries are thriving in Fort Lauderdale.
Downtown Fort Lauderdale is the base of Broward’s economy. Fortune 500 companies like AutoNation, as well as service companies, retailers and thousands of new residents in high-rise condos, call Greater Fort Lauderdale home.
In recent years, metropolitan Fort Lauderdale has substantially outpaced the national economic growth rate, while the county’s population has climbed to nearly 1.7 million, according to the Greater Fort Lauderdale Chamber of Commerce. Meanwhile, Port Everglades is attracting new cruise ships and cargo lines.
Greater Fort Lauderdale spans all of Broward County. The region hosted 12 million visitors in 2012, including 2.8 million international visitors. The city and county in 2012 collected $43.9 million from the 5 percent bed tax it charges, after hotels in the area recorded an occupancy rate for the year of 72.7 percent and an average daily rate of $114.48. The district has 561 hotels and motels offering nearly 35,000 rooms.