2012 Economic Yearbook
The tourism market is hot, home sales are setting records and international trade is flourishing. But community leaders are uneasy about a possible new wave of foreclosures, and they’re divided on the issue of resort gambling.
» Tourism: Boosted in particular by free-spending Brazilian tourists, Miami-Dade tourism was up in every respect. Average revenue per available hotel room rose 14.1% from 2010, and the average daily rate of $152.95 — up 6.2% from last year — was the fourth-highest in the nation. Average occupancy of 75.6%, also No. 4 in the nation, was up 7.4% from 2010. As this year began, occupancy and room rates continued to rise, as did interest from companies worldwide in acquiring existing hotels, especially in Miami Beach. The Greater Miami Convention and Visitors Bureau has its eye on even more Brazilian visitors if President Obama's push to loosen visa regulations is successful. Brazilians now wait for months and often travel hundreds of miles for visas.
» Home sales: Real estate brokers sold a record 24,929 homes last year, according to the Miami Association of Realtors. Sales were driven by falling prices as foreign buyers bought second homes and investment properties in all-cash deals.
[Photo: Don Carlos/Port of Miami]
|Miami-Dade Population: 2,547,708|
|Population Growth Rate (2008-12): 1.13%|
|Population by Age:|
|Per Capita Income: $41,106|
|MSA||Dec. 2011||Dec. 2010||% Change||Jobless Rate|
|Miami/Miami Beach Kendall||1,176,023||1,132,600||3.8%||10.3%|
|Source: Agency for Workforce Innovation|
|Homes - Single-family, existing-home sales|
|MSA||2011 Sales||1-Year Change||2011 Price||1-Year Change|
|Source: Florida Realtors; year-end sales, median price|
|Miami-Dade County Consumer Bankruptcies|
|Source: National Bankruptcy Research Center|