Tourism annually generates approximately $71 billion in economic impact and supports roughly 449,000 jobs (41% of Orlando’s workforce). Visitor spending, in the neighborhood of $45 billion, provides more than $2 billion in state taxes and $3 billion in local taxes. Also, since 2009, visitation has increased 55%, while visitor spending is up 75%.
“This is a significant milestone in Orlando International Airport’s history because it shows the sustained strength of the Central Florida economy,” says Phil Brown, Chief Executive Officer of the Greater Orlando Aviation Authority. “With over 47 million annual passengers and growing, we must continue to plan and build for future growth, following the vision that was established more than three decades ago.”
“We are on track to have a record breaking summer at Orlando International Airport. Our passenger growth is reflective of the value placed on this community by our travelers,” says Phil Brown, Chief Executive Officer of the Greater Orlando Aviation Authority. “At our current pace we should surpass 47 million annual passengers by the end of summer.”
“The international real estate market is crucial to Orlando’s real estate industry and overall economy,” says Senior Global Real Estate Advisor, Garry Walmsley with The Orlando Agency, a Division of Global Real Estate Services, Inc. "There were approximately 61,300 Florida homes sold to foreign nationals during the 2017 study’s 12-month period.
An affiliate of South Florida-based developer BTI Partners has raised $55.26 million in tax-exempt bonds to fund the next year of renovation and construction at its 878-unit condo hotel The Grove Resort & Spa.
"The water parks was a portion of the debt raise, that's under construction as we speak and will be completed in January 2018," he said. "Phase 2 (another 280 units) should be opening by March 2018, and then a final phase of 280 renovated units will follow."
The public this week is getting its first glance at the vacation cottages that will be available at Margaritaville Resort Orlando, which is scheduled to open in late 2018. From the look of things, Floridians might feel right at home.
“We are thrilled to showcase unique and one-of-a-kind vacation homes, which will truly let owners and renters escape to paradise through Margaritaville-inspired architecture and theming,” said James Bagley, project developer ~ vacation-home pricing starts at $250,000.
Many Canadians are still purchasing property in the U.S., even with the Canadian dollar below par. Lower property costs and relatively low interest rates continue to drive sales. In fact, according to the most recently issued National Association of REALTORS® (NAR) profile, Canadians are moving ahead with their U.S. property ownership plans at a higher rate than in previous years.