Reeling: Tourism took a definitive hit in 2020, but a comeback is expected to start by the end of 2021 Given Port Everglades’ status as the third-largest cruise port in the world, tourism has always been integral to the Fort Lauderdale economy. In fact, the industry is the city’s second largest, attracting a record 126.1 million out-of-state visitors in 2018. Although hotel occupancy plateaued slightly at 76% in 2019, major events such as the International Boat Show (FLIBS) continued to draw in millions of dollars in tourism revenues. But in 2020, Broward County was barely able to squeeze in one strong quarter before COVID-19 hit, forcing international travel to close down and sending shock waves across related tourism, leisure and hospitality businesses. In December 2020, despite an uptick in activity, revenue from tourism and hospitality-related industries was down 25% on the year. According to Visit Florida, there was a 34% drop in visitors in 2020 compared to 2019, with 86.714 million people choosing Florida as a destination. And although businesses in Florida began to reopen in summer 2020, PPP loan payments were made and vaccines became available across the state, many are still struggling. In early-May, an analysis of social media sentiment found that travel discussion surrounding Florida was more negative than U.S. travel as a whole. But an upswing
quickly came into view. By June, Florida’s beaches were back open to tourists, by October, Broward County’s businesses reported more optimism and by December, income from tax revenues exceeded pre-COVID projections. Events Despite lingering pandemic-related economic concerns, Broward County is a glowing example of how to execute public events in the current landscape. In October 2020, despite almost every other major boat show having canceled their 2020 event, FLIBS went ahead with its show – although at a reduced capacity. Organizers managed to create a plan that would allow guests to attend the show with confidence, with a greater number of entrances and exits, no paper tickets and more bus and water taxis with reduced occupancy. Ultimately, show organizers say the show ran smoothly, with a large number of serious buyers making appointments to tour the new Magellano 25 Metri yacht. In September, the city also successfully hosted the 10th Annual Brazilian Festival. The 2021 Super Bowl held in Tampa also saw an overspill of tourism into Fort Lauderdale. The Greater Fort Lauderdale Convention Center ( ) www.capitalanalyticsassociates.com
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