Miami Is Flying High

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So you think that the local economy is depressed and you do not see any improvement on the horizon? It all depends on what information you are tracking and which segment of the Miami economy you are considering.

Let’s consider the latest data provided by the U.S. Department of Commerce and Office of Travel and Tourism Industries on international visitation to Miami:

• We ranked SECOND in the nation, behind New York City, in total number of visitors.
• Year-to-date through August 2008, with over 2 MILLION international visitors, we are up by 10% over the same period in 2007.
• The top ten tourist generating countries to the U.S. - Canada, Mexico, United Kingdom, Japan, Germany, France, South Korea, Italy, Brazil and India.

The Miami tourism economy is certainly alive and kicking. During the first six months of 2008, with an average stay of 5.85 days, overnight visitors in Miami spent $17.1 billion in direct expenditures. If you are looking for foreign real estate buyers, spend your marketing dollars wisely and make sure to focus your efforts and dollars on our feeder markets.

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