South Florida Sets New Tourism, Travel, and Cargo Records

Population Boom Fuels Real Estate and Economic Expansion

Patricia Delinois 2012 President of the Residential Board of Governors MIAMI Association of REALTORS®

Miami continues to be impacted by positive trends that point to continued expansion of the local economy and strengthening of the real estate market.

Miami Tourism Sets New Record
Miami residential real estate was not the only local record-breaking industry in 2011. Miami continues to attract a record number of visitors and tourists, who not only support the local economy but in many cases also buy properties. According to the Greater Miami Convention & Visitors Bureau, Miami tourism set a new record in 2011 with 13.4 million overnight visitors, a 6.7 percent increase over the 2010 total, which was the previous record.

MIA, PortMiami See Record Growth
In 2011, passenger traffic at Miami International Airport (MIA) set a new record with 38 million passengers, a 7 percent increase over 2010. International travel at MIA increased more than at any other U.S. gateway in the last four years. International travel grew by 9 percent at MIA, ranking second in the U.S. for international passengers. Similarly, the Port of Miami saw more passenger traffic than any other port in the world with more than 4 million passengers for the fourth consecutive year. Cargo activity increased, by 7 percent in 2011 compared to 5 percent in 2010.

South Florida Population Mini-Boom
Population, a key driver of real estate and the economy, has Florida and South Florida poised for strong growth long into the future. According to the U.S. Census, Florida added 256,000 new primary residents in 2011. South Florida added 92,045 residents, a 1.7 percent increase over the previous year.

Miami – Global Hotspot!
There are many reasons why U.S. and foreign tourists, real estate buyers, businesses, and celebrities are attracted to Miami and all that it offers - moderate year-round weather, cultural affinity, an exciting lifestyle, and access to a global business and banking center.

"It's a great time to buy a home in Miami!" MIAMI

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