Economy in Miami Beach

The City of Miami Beach is considered a world-class vacation destination. For good reason, we might add. You can find everything here: nightlife, beaches, shopping, aparthotel Miami, dining, as well as an intoxicating mélange of cultures. With all of this to offer and more it would come as no surprise that tourism dollars make up a large percentage of the economy within the City of Miami Beach. But what may be a surprise, is just how dynamic that economy really is. The City of Miami Beach is no longer a “winter-only” destination. This section of Florida has seen both an uptick in traditional residents as well as year-round tourists.

It has been projected by numerous sources that those looking for jobs in the City of Miami Beach should be well versed in professional and business services, as that is where the growth is projected to be. One can, perhaps correctly, draw conclusions that this is because the hospitality and tourism field is already well-staffed. However, it is also a sign that Miami Beach is no longer driven purely by tourists.

Another sign that tourism is no longer the sole driving economic factor in the City of Miami Beach is that of housing and cost of living. The cost of living in Miami Beach is certainly higher than the national average, but below other tourist-laden destinations such as New York City, Washington D.C., Boston, and Los Angeles.

Along these same lines, the price of housing in Miami Beach continues to edge upward at a steady pace – which is a tell-tale sign of a strong economy, particularly in this current climate. Amid all of this growth, there is one constant: the City of Miami Beach is a great place to be, either as a tourist or as a resident!