Florida tourism generates more than 133 billion dollars in economic impact while saving households nearly two thousand dollars in taxes in 2024
Tallahassee, Florida – Florida’s tourism industry continues to demonstrate its unparalleled importance to the state’s economy, according to the newly released 2024 Economic Impact of Tourism study by VISIT FLORIDA. The report highlights record-breaking contributions, showing that travel and tourism generated $133.6 billion in economic impact last year while saving Florida households nearly $2,000 each in taxes.
Out-of-state visitors spent a staggering $134.9 billion in Florida during 2024, reflecting a 3.0% increase over 2023. American travelers accounted for $120.1 billion of that total, while international visitors contributed $14.8 billion. Impressively, nearly every dollar spent by tourists—99 cents—remained within the state, boosting local economies and supporting wages for Florida workers. This retention rate is up from 97 cents per dollar in 2023, demonstrating the growing efficiency and impact of the state’s tourism sector.
“Our tourism industry is critical to Florida’s strong economic position,” said Governor Ron DeSantis. “Florida remains the top destination for travelers from across the country and the world because we prioritize freedom and safety. Tourism fuels jobs and keeps Florida’s economy strong.”
Read also: Coral Springs community mourns beloved police sergeant Ebony Winn who dedicated seventeen years of service Tourism’s influence extends far beyond visitor spending, directly affecting employment, wages, and public revenue. In 2024, tourism supported 1.8 million jobs across the state and generated $79.9 billion in wages. Of that total, $44 billion came in direct wages paid to workers employed in the tourism sector. Employment in the sector grew by 1.8% over the previous year, while total wages increased 4.6%, reflecting steady growth and stability for those relying on tourism-related employment.
In addition to employment and wages, the tourism industry is a major contributor to government revenue. The 2024 report shows that travel and tourism produced $33.6 billion in federal, state, and local taxes. Without this revenue, Florida households would be required to pay an additional $1,730 annually in state and local taxes to maintain current funding levels for public services.
“Tourism drives Florida’s economy,” said Bryan Griffin, President and CEO of VISIT FLORIDA. “This new data from VISIT FLORIDA’s economic impact study demonstrates the value of Florida’s investment in tourism and tourism marketing. Florida’s 9.1 million households are saving nearly $2,000 a year because of the tax revenues generated by Florida tourism. VISIT FLORIDA will continue to responsibly steward this valuable investment for Florida’s residents.”
The report also underlines Florida’s continued success in attracting visitors. In 2024, the state welcomed a record 143 million travelers. Visitor spending by out-of-state tourists increased steadily, helping maintain Florida’s position as one of the nation’s leading tourism destinations. Tourism accounted for 7.8% of Florida’s Nominal Gross State Product (GSP), solidifying its role as a cornerstone of the state’s economic framework.
For every dollar spent by a visitor, 59 cents directly supported worker salaries, underscoring the link between tourism and household income. Beyond direct benefits, the economic ripple effect extends to supporting small businesses, restaurants, attractions, and service providers across Florida. Communities from coastal destinations to inland cities see tangible benefits from visitor spending, which in turn sustains employment and public services.
Taxes generated by tourism also saw a year-over-year increase of 3.3%, reinforcing the sector’s role in funding essential programs without placing additional burdens on residents. This growth demonstrates how strategic investment in tourism marketing and infrastructure directly benefits both the state economy and Florida households.
The 2024 Economic & Fiscal Impact of Tourism in Florida report, prepared by Rockport Analytics for VISIT FLORIDA, provides an in-depth look at the industry’s contributions and outlines the economic and social benefits tourism delivers to residents. From employment and wages to tax savings and community development, tourism continues to be a cornerstone of Florida’s prosperity.
With record visitation, increasing spending, and a growing retention of tourist dollars in the state economy, Florida’s tourism sector is not only sustaining jobs and revenue but also reinforcing the state’s reputation as a leading travel destination. As the industry continues to grow, it remains a vital engine for economic opportunity, fiscal relief, and continued quality of life for residents across the Sunshine State.
