Florida’s Tourism Economy Surged in 2024, Creating Jobs, Revenue, and Long-Term Real Estate Demand
According to the latest study by VISIT FLORIDA, the Sunshine State’s tourism industry delivered a historic $133.6 billion in economic impact in 2024. That massive influx of visitor dollars helped support approximately 1.8 million jobs statewide and generated $79.9 billion in wages — a substantial portion of which contributed directly to households across Florida.
Out-of-state travelers spent an estimated $134.9 billion in 2024, marking a 3.0 percent increase over 2023. Of that total, U.S. visitors contributed about $120.1 billion, while international tourists added roughly $14.8 billion. For every dollar spent by a visitor, nearly 99 cents remained circulating within Florida’s economy — with as much as 59 cents per dollar going toward wages. That retention rate is up from prior years, illustrating the strengthening multiplier effect of tourism on the local economy.
On top of supporting employment and wages, tourism--driven economic activity delivered $33.6 billion in combined federal, state and local tax revenue. According to the report, this tax haul effectively reduced the average tax burden for Florida’s more than nine million households by nearly $2,000 per year.
Those figures reflect more than just tourism — they reveal the engine behind many of Florida’s broader socioeconomic strengths: robust employment, strong wage growth, stable public financing, and a business-friendly climate that attracts more people who want to live, work, and invest here.
Why This Tourism Surge Matters for Real Estate
As a seasoned Florida real estate agent (and attorney), it's clear that tourism-driven economic growth reverberates through the housing market in several meaningful ways:
Population growth and migration: The strong job market and stable economy make Florida increasingly attractive to newcomers — retirees, remote workers, investors, out-of-state buyers — all fueling demand for housing.
Investor confidence: Consistent tourist spending and economic inflows suggest long-term stability for both residential and rental markets. Investors are more likely to consider purchasing properties in areas with a resilient economy and diversified revenue streams.
Demand for second homes and vacation rentals: With tourism booming, areas popular with travelers (coastal regions, metropolitan centers, near attractions) become appealing not only to full-time residents but also to short- and mid-term rental investors.
Public infrastructure & services: Strong tax revenue helps fund infrastructure, public services, and amenities — factors that make neighborhoods more desirable and support higher property values.
In other words: the tourism windfall indirectly elevates the real estate market by strengthening the underlying economic foundations across the state.
What Florida Real Estate Could Look Like in 2026
Looking ahead toward 2026, the economic and real estate outlook in Florida remains optimistic, especially given current investment trends and demographic shifts. Some of the key signals pointing to growth include:
Moderate but steady home-value appreciation: According to market-wide analyses, real estate appreciation in Florida is projected to continue at a modest rate (roughly 3–5 percent annually) through 2026 — a manageable growth that avoids bubble-like volatility while still offering value appreciation.
Sustained demand from in-migration and retirees: As more out-of-state residents and retirees relocate to Florida — attracted by favorable tax laws, climate, and quality of life — demand for housing and rental properties is expected to remain strong.
Balanced market conditions — more inventory, but still selective demand: Recent market data suggest inventory is gradually improving, while demand remains strong. This could produce a more balanced market where buyers have choices but sellers can still achieve healthy sales prices.
Opportunities for investors and developers: With high demand, shifting demographics, and economic strength driven by tourism and migration, there’s potential for well-timed purchases — especially in emerging or undervalued markets.
For a real estate professional with legal and negotiation expertise, 2026 may present one of the better windows in recent years to guide both end-buyers and investors toward long-term gains.
