December 31, 2012
Florida – with its beautiful beaches, lavish resorts, lively cities, and year-round sunny weather – has long been one of the world’s premier tourist destinations. Miami has been a particular focal point for travelers, subsequently becoming one of the fastest-growing and most visited cities in the country. In fact, the city is so alluring that even a slowing global economy hasn’t stopped the flow of visitors and would-be residents, which is set to reach record highs in 2013.
The South Florida Business Journal reported on the strong showing in tourism during 2012, which is likely to continue into the next year and beyond.
The number of tourists that visited South Florida soared in 2012, and is expected to reach a new record in the coming year. The Sun Sentinel reports that a record number of international visitors bolstered tourism figures in Miami-Dade and Broward counties. In Palm Beach County, an improved economy and business travel have helped hotels reach an estimated 68 percent occupancy rate by year’s end, up 3 percentage points from last year
The Sun Sentinel identified Miami-Dade County as a “tourism powerhouse” that was leading much of this record-breaking growth. The significant growth of tourism in neighboring Broward and Palm counties has a positive impact on Miami as well, as many travelers tend to stop by to enjoy the city’s world-famous beaches and entertainment venues. Indeed, much of this growth is led by international visitors, for whom Miami is especially well-known and popular.
Furthermore, the Sun Sentinel highlighted that “a rebound in real-estate prices and credit” was a major factor in this development, as it has “[revived] the market for new hotels.” A press release from the National Association of Realtors (NAR) also confirmed steady growth in the American real estate market, including in the Southern United States.
Needless to say, this development is very good for real estate. Miami Properties are some of the most desirable in the world, both for residents seeking a comfortable living, and for businesses looking to take advantage of new and exciting commercial markets. Contact Metro 1 Properties, a leading provider of Midtown Real Estate – among many others – to help connect you to some of the most desirable properties in the city.