Miami Economy
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Table of Contents
Miami tourism and economy of Miami
Miami tourism is an important part of Miami economy. Recently a number of travel shows were held in Miami and have been received enthusiastically by local as well as international traveling fraternity, which is good news for Miami’s economy.
Of all tourist destinations in USA, over years, Miami has done best and this has been a positive development for Miami economic system, which any ways depends quite much on tourism industry for survival.
However, prices of Miami hotels had gone up when US economy had started to progress at rate of knots. However, now in wake of global financial crisis, these hotels are also losing this ground and their position has been taken by hotels in New York in a startling revelation for Miami economy.
These new events have been held to highlight positive aspects of Miami. It is expected that these would have a positive impact on Miami economy. Now hospitality industry of Miami, consisting of clubs, hotels and restaurants, is looking to draw huge crowds, by arranging various celebratory events, in an effort to generate sufficient financial reserves to sustain themselves and allay ill effects of global financial downturn.
Since these festivities are attended by some important celebrities it can be expected that these recreational facilities would be able to turn wheel of financial fortune. As per latest received statistics hotel rooms are being booked to almost fullest capacity and this can only mean good for Miami economy at large.
Miami economy and television industry
As is case with several other cities in USA media industry of Miami has been hit hard as well. It has been seen that weaknesses persisting in this city’s economy have been eating away at revenue generated by some leading dailies.
Economic benefits for developers
In an effort to boost Miami economy and that of Florida at large, legislators have provided developers with a host of benefits for developers. However, these have also been a cause of worry for government officials. One of various benefits provided is elimination of various requirements concerning transportation concurrency. These moves are being regarded as economically beneficial by developers in that state.
