Miami-Dade Tourism Market Reaches $30 Billion Economic Impact

The Greater Miami Convention & Visitors Bureau (GMCVB) highlighted the enduring success of Miami-Dade County’s tourism industry at its annual State of the Travel & Tourism Industry presentation. The event, set against the backdrop of the Norwegian Cruise Line (NCL) terminal at PortMiami, celebrated the industry’s achievements and profiled the marketing programs in 2023 that propelled strong momentum into early 2024.

More than 650 attendees convened at the event, which coincided with National Travel and Tourism Week (NTTW). GMCVB President and CEO David Whitaker reflected on 2023’s successes, highlighting key industry achievements:

  • Greater Miami and Miami Beach welcomed over 27.2 million visitors in 2023, showcasing a sustained growth trajectory
  • Visitors generated an estimated $21.1 billion in spending, marking a 2 percent increase from the previous year
  • The region saw 17.3 million hotel room nights sold, holding onto gains achieved in 2022 and edging slightly higher with an increase of 0.3 percent

Additional 2023 local industry highlights include the following: 

  • Tourism generated nearly $30 billion in overall economic impact and over $19 billion in gross domestic product (GDP), representing 9 percent of Miami-Dade County’s total GDP
  • Visitors contributed $4.98 billion in tax revenue, saving the average household $2,233 per year and individual residents $786
  • Tourism accounted for more than 200,000 jobs, driving $11 billion in wages across the county

Additionally, innovative campaigns contributed to the industry’s sustained momentum. Launched in 2023, the successful “Rainbow Spring” campaign focusing on LGBTQ+ visitors saw 18,000 bookings and $11.1 million in gross bookings during March and April 2024, a 5.5 percent increase from the same period in 2023.

The GMCVB a;sp provided data underscoring the strength of key market indicators, including Miami International Airport arrivals, PortMiami passenger volume, convention and meetings bookings and the county’s robust hotel demand.

Miami International Airport played a pivotal role in visitor growth ushering in another record year, serving over 52.3 million travelers in 2023—a 3.2 percent increase over 2022. International travel continued to rebound with 23.2 million travelers, an 8.5 percent increase over last year. The first quarter of 2024 shows the momentum continuing, with arrivals up 11.5 percent for the same period last year, driven by both international and domestic travelers.

The continued increase in airport arrivals mirrors increases seen in hotel demand. For Q1 2024, Greater Miami and Miami Beach ranked as the No. 1 destination in the country for hotel occupancy with an increase of 3.3 percent over the same period last year. Notably, in March, when Miami Beach introduced enhanced spring break guidelines, occupancy rose 2.3 percent compared to March 2023. Additionally, Miami-Dade was top in the nation in revenue per available room (RevPAR) for March, posting a 1.6 percent increase over last year.

PortMiami’s performance in 2023 was highlighted by the introduction of new cruise terminals and the expanded lineup of eight new cruise ships for the 2023-24 season. Marking 2023 as the busiest cruising year in history, the port welcomed 7.49 million cruise guests representing an 11 percent increase over its previous record in 2019.

The meetings and conventions sector continued to thrive, with The GMCVB convention sales team securing 13 new convention bookings at the Miami Beach Convention Center by the end of May 2024. This represents over 91,000 total room nights throughout Miami-Dade’s communities and generates over $195 million in economic impact.

Earlier this year, the GMCVB became a Certified Autism Center, an initial step in transforming Greater Miami and Miami Beach into a Certified Autism Destination (CAD). Additionally, the GMCVB is focused on expanding its talent pipeline and supporting career development through the Black Hospitality Initiative. This initiative recently secured $230,000 to support scholarships at the 31st annual Hospitality Open Tournament (H.O.T), and introduced new career tracks in aviation and sports management.

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