Greater Miami & Miami Beach 2022 Visitor Industry Overview

Greater Miami & Miami Beach 2022 Visitor Industry Overview Visitor Profile • Economic Impact • Hotel Performance • Jobs

Presented by:

with data collected by:

© Greater Miami Convention & Visitors Bureau — The Official Destination Sales & Marketing Organization for Greater Miami and Miami Beach

Table of Contents

Visitor Industry Overview 2022

Overview & Executive Summary

3

Greater Miami & Miami Beach Visitor Volume

7

Overnight Visitation – Market Analysis

10

Domestic Overnight Visitors

15

International Overnight Visitors

25

Florida Overnight Visitors

31

Day Visitation – Market Analysis

41

Domestic Day Trip Visitors

44

International Day Trip Visitors

50

Florida Resident Day Trip Visitors

53

Direct Economic Impact – Visitor Spending

60

Appendix

63

Overnight Visitor Profiles

65

Hotel Industry Recap

72

Tourist-Related Taxes Collected in Miami-Dade County

78

Leisure and Hospitality Employment

80

2022 Dashboard of Key Visitor Industry Indicators

83

2

MiamiandMiamiBeach.com

Overview and Executive Summary

Visitor Industry Overview 2022

3

MiamiandMiamiBeach.com

Overview The Greater Miami Convention & Visitors Bureau (GMCVB) has the distinction of serving as Greater Miami and Miami Beach's official destination sales and marketing organization, representing the destination globally with offices in major cities throughout the world.

Tourism is Greater Miami and Miami Beach’s leading industry, and the sector’s performance is closely monitored by the GMCVB. Research insights are essential components of the GMCVB’s work and serve as the strategic driver for marketing programs to promote leisure tourism (including cruising) as well as meetings and conventions business.

The following pages represent the 2022 Visitor Profile for Greater Miami and Miami Beach. In tracking the format of recent years’ reports, we continue to profile three broad visitor segments (international, domestic and Florida resident) with trending from the prior years.

In-depth analysis of these three categories of the Greater Miami and Miami Beach visitor profile enables the GMCVB to better understand shifts and trends in the behavior of the traveling public. This critical research allows the GMCVB to cultivate and enhance strategic sales and visitor marketing programs that contribute to Greater Miami and Miami Beach’s success as a leading destination to live, work, play and visit.

MiamiandMiamiBeach.com

4

Visitor Industry Overview 2022

Executive Summary

Riding on the coattails of 2021, in many ways 2022 was another record year. In 2022, 19.2 million overnight visitors and an additional 7.3 million day visitors, totaling 26.5 million traveled to the area, resulting in a year-over-year net gain of over 2 million people. With this increase in the volume of visitors came additional spending, which also exceeded the prior year. Tourists spent an estimated $20.8 billion, an increase of 8% over 2021.

The momentum that built during 2021 carried over into 2022, with continued demand at levels never seen before. Miami International Airport (MIA) added more flights and recently welcomed low-cost carriers, which included Southwest, JetBlue and Spirit, all of which contributed to the influx of travelers. Additionally, the cruise industry experienced a surge in passenger volume starting in the summer and by the end of the year, returned to pre-pandemic levels. Furthermore, meeting and convention activity gained momentum and bookings quickly filled the convention centers and hotels.

Domestic visitation still made up much of the overall deficit created by a lack of visitors from traditional international markets, nevertheless the overall international recovery was strong. The primary purpose of visits for tourists continued to be leisure-driven. However, similar to trends in 2021, many visitors came to the area to visit friends and relatives, as well as to shop and take part in outdoor leisure activities. Florida has been one of the fastest growing states in the U.S., and this helped fuel both domestic and international visitation to Greater Miami & Miami Beach.

Total overnight visitation increased by 20% from 2021. Conversely, day trip visitation was actually down 12% from the prior year; however, this figure was more on par with 2019, as 2021 was an unusual year for tourism. All told, 2021 saw unprecedented pent-up demand and in many ways did not resemble travel trends of prior years, so comparing 2022 to 2021 does not necessarily align with standard benchmarking. The 2022 changes in overnight versus day visitation revealed that visitors to Greater Miami & Miami Beach were more likely to stay overnight as opposed to staying somewhere outside of the county.

• Comparing the top 20 domestic overnight markets, all of the top 20 domestic markets increased their visitation over 2021. However, day trip visitation from the same markets decreased year-over-year for all but Los Angeles, which posted a small gain after lagging behind other markets in 2021.

• While this may seem unusual, when compared to 2019, almost all of the same markets were higher in 2022. When visitors come to Florida, they have many options in the state.

MiamiandMiamiBeach.com

5

Visitor Industry Overview 2022

Executive Summary •

Florida resident visitation to Greater Miami & Miami Beach increased from 2021 by a net of about 300,000 visitors. This was in large part made up of overnight visitors. With so many options across the state, Floridians still chose Greater Miami & Miami Beach in large numbers. Many U.S. destinations reopened in the wake of the pandemic and these destinations are now making tourism more competitive, but the choice was clear for 7.9 million Floridians in 2022- a 13% increase year-over-year.

• Visitation from other Florida areas was robust, and overnight visitation increased from all major markets. Day trips continued to grow from Palm Beach and Tampa, while visitors from other areas of Florida made fewer day trips and likely chose other nearby destinations.

•

While much of the overall tourism momentum was driven by domestic visitation, traditional international visitor markets also began to return. However, international travel restrictions, extended visa wait times and economic challenges continued to hamper travelers from visiting. Still, there was a strong comeback of international markets. By year end, Canadians were returning in numbers equal to pre-pandemic levels. Brazilians, despite many travelrelated barriers, rose to the #2 ranking of top international overnight visitor markets. Both the United Kingdom and Spain, which were largely absent in 2021, returned in force and resulted in ranking #5 and #6 top international overnight markets, respectively. Latin American markets, for the most part, continued to flourish and ​Colombia, the #1 ranking international overnight market in 2021, held on to the #1 ranking for 2022. All told, international visitation increased by 13% year-over-year.

Visitors spent more in 2022 than ever- $20.8 billion as compared to $19.2 billion in 2021, a net increase of 8%. This was driven by domestic markets, including Floridians.

• While international visitors are returning, they are not spending as much as they have in the past. Many opted to stay with friends and family as opposed to paid lodging. Furthermore, fewer international visitors claimed to have come to shop as compared to the prior year. That said, international visitors still spend more per person than those in the domestic segment.

• Exchange rates and inflation have impacted visitation around the globe, and for international travelers who are able to travel, many may have become more budgetconscious.

Greater Miami & Miami Beach's hotels not only sold more rooms in 2022, but exceeded 2021 room night sales by 13%. Furthermore, hotel daily rates were 14% higher than in 2021, which signaled a willingness by travelers to pay more than in the past.

• Hotel occupancy was up 8% year-over-year despite the addition of new hotel inventory, reflecting a positive change in hotel demand.

• Selling more rooms and record high hotel rates meant gross hotel revenue was way above projected expectations; in fact, it was 29% higher than 2021 and 33% higher than 2019. o The largest gains in hotel revenues were among the mid- to upper-scale hotels. All hotel segments did well and luxury properties were also in great demand, but given the tremendous gains in hotel rates among luxury properties in 2021, growth in that segment was not as pronounced in 2022.

MiamiandMiamiBeach.com

6

Visitor Industry Overview 2022

Greater Miami & Miami Beach Visitor Volume

MiamiandMiamiBeach.com

7

Visitor Industry Overview 2022

26.5 Million Total Visitors in 2022 At 19.2 million overnight visitors, 2022 was a record year for visitation. Adding in the 7.3 million day trippers netted 26.5 million total visitors to Greater Miami & Miami Beach.

Greater Miami & Miami Beach Overnight Visitors 10.4M Domestic

4.7M International

Greater Miami & Miami Beach Day Trippers

4.1M Florida

2.4M Domestic

19.2M Overnight Visitors

1.1M International

3.8M Florida

7.3M Day Trippers

26.5M Total Visitors

Visitor Industry Overview 2022

8

MiamiandMiamiBeach.com

2022 Greater Miami & Miami Beach Visitation International markets rebounded last year, particularly towards the middle of 2022. Furthermore, more international visitors opted to stay in Miami-Dade County as opposed to somewhere outside the county.

Due to pent-up travel demand and increased air service to MIA, domestic volume surpassed prepandemic levels.

Greater Miami & Miami Beach Visitors (000s) 2019

2020

2021

2022

2022 v 2021

Domestic Overnight Visitors

6,897

4,328

8,719

10,369

19%

International Overnight Visitors

5,337

1,842

3,747

4,743

27%

Florida Resident Overnight Visitors

4,089

1,708

3,450

4,057

18%

Total Miami Overnight Visitors

16,323

7,877

15,915

19,169

20%

Domestic Day Visitors

2,213

1,421

3,355

2,399

-28%

International Day Visitors

1,568

614

1,442

1,100

-24%

Florida Resident Day Visitors

4,064

1,682

3,508

3,832

9%

Total Day Visitors

7,845

3,717

8,304

7,332

-12%

Total

24,168

11,594

24,220

26,501

9%

MiamiandMiamiBeach.com

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Visitor Industry Overview 2022

Overnight Visitation - Market Analysis

Visitor Industry Overview 2022

10

MiamiandMiamiBeach.com

Overnight Visitation - Origin In the Domestic markets, every region contributed greatly to the overall volume. Of all regions, the Northeast contributed the greatest number of overnight visitors, driven largely by the New York area. All areas represented larger volumes from the previous year, particularly from the Midwest.

With loosening restrictions and air service reinstated, international travel to Greater Miami & Miami Beach returned, albeit not to the levels seen in 2019. Visa wait times, travel regulations and economic issues have prevented the full return of international travel.

Domestic Overnight Visitors (000s)

2019 2020 2021

3,298 2,250 1,591 +11%

3,522

2,857

2,254

2,594

1,285

South (non-FL)

2022

2,832

+14%

1,891

1,380

Northeast

941

1,010

+10%

Midwest

936 1,157 511 +10%

West

International Overnight Visitors (000s) 1,772

1,670 1,496 1,496 1,033 921 537-17%

553 342

550 322 -5%

South America

1,037 791

Central America

650

-2%

288202

353 150

+1%

Caribbean

Europe

251 29-1%

Canada

485 388 203196 +2%

Other Countries

Latin America Q. What is your country of residence?

Q. What is your zip code?

MiamiandMiamiBeach.com

11

Visitor Industry Overview 2022

Top 20 Domestic Markets – Overnight Visitors The increase in overall domestic visitor volume was reflected across all markets, with an additional 260,000 overnight visitors from New York. The rankings of the top markets generally do not change much from year to year. Most notably, Atlanta, Los Angeles, Boston and Washington, DC. grew the most in overall volume.

Greater Miami & Miami Beach Overnight Domestic Visitors MARKET

2019 Volume (000s)

2020 Volume (000s)

2021 Volume (000s)

2022 Volume (000s)

Variance to 2021 (%)

New York City

1,364

752

1,663

1,923

16%

Atlanta

380

237

485

581

20%

Chicago

385

234

461

481

4%

Philadelphia

349

164

323

387

20%

Los Angeles

276

139

221

384

74%

Boston

208

142

271

359

33%

Washington, DC

299

135

281

347

23%

Dallas

223

149

330

338

2%

Houston

191

125

306

305

0%

Detroit

141

106

208

243

17%

Charlotte

86

77

157

175

12%

Denver

104

66

140

156

11%

Raleigh

85

55

107

134

25%

Minneapolis

110

69

109

132

21%

Baltimore

77

48

111

127

15%

Cleveland

100

53

104

121

16%

Hartford

86

38

91

118

29%

New Orleans

57

36

98

115

18%

Nashville

105

43

92

109

18%

Kansas City

56

43

88

104

19%

Q. What is your zip code?

Visitor Industry Overview 2022

12

MiamiandMiamiBeach.com

Top 20 International Markets – Overnight Visitors On par with 2021, Colombian travelers were Greater Miami & Miami Beach's number one international market. Brazil also made an impressive comeback, despite long visa wait times and economic barriers.

European markets also made a lot of strides over the year as more and more visitors from the United Kingdom and Spain returned, putting those markets back into the top 10. Canadians flocked to the area and, by the end of 2022, the number of Canadian visitors returned to prepandemic levels.

Greater Miami & Miami Beach Overnight International Visitors COUNTRY

2019 Volume (000s)

2020 Volume (000s)

2021 Volume (000s)

2022 Volume (000s)

Variance to 2021 (%)

Colombia

374

114

425

423

-1%

Brazil

440

118

46

286

520%

Canada

351

150

29

251

774%

Mexico

203

79

183

223

22%

United Kingdom

321

54

40

209

423%

Spain

205

41

46

183

293%

Argentina

285

79

117

172

47%

Venezuela

169

37

95

161

69%

Ecuador

205

70

133

154

15%

Dominican Republic

92

60

119

143

21%

France

216

54

37

132

255%

Bahamas

163

51

62

107

72%

Peru

90

39

86

95

9%

Honduras

62

23

75

89

19%

Chile

102

52

49

83

70%

Trinidad and Tobago

90

16

18

77

329%

Costa Rica

67

35

66

71

7%

Netherlands

77

31

15

62

300%

Israel

35

16

37

61

64%

Panama

66

32

52

60

15%

Q. In what country do you reside? Note: Due to smaller sample sizes, only overnight visitor volumes can be reported (no day trippers) MiamiandMiamiBeach.com

13

Visitor Industry Overview 2022

Top Florida Resident Markets – Overnight Visitors Floridians have many options to travel to nearby destinations, but Greater Miami & Miami Beach draws a lot of interest. Overnight visitation to Greater Miami & Miami Beach from other Florida markets improved over the prior year, yet markets like Tampa and Palm Beach have not yet returned to 2019 overnight levels.

With the reopening of other domestic markets, the competition became visible as places like New York City and Los Angeles were back online. Despite this, overall Florida volumes still increased over 2021 and were almost back to 2019 levels.

Overnight Florida Resident Visitors

MARKET

2019 Volume (000s)

2020 Volume (000s)

2021 Volume (000s)

2022 Volume (000s)

Variance to 2021 (%)

Orlando

1,078

631

964

1,199

24%

Tampa/St. Petersburg

1,001

398

809

853

5%

Palm Beach

1,059

287

689

804

17%

Naples/Fort Myers

310

141

387

486

26%

Jacksonville

401

188

328

418

27%

Other

240

62

271

297

10%

Q. What is your zip code?

Visitor Industry Overview 2022

14

MiamiandMiamiBeach.com

Domestic Overnight Visitor Profile

MiamiandMiamiBeach.com

15

Visitor Industry Overview 2022

Domestic Overnight Visitors – Purpose of Visit Travel for pleasure clearly made the top of the list and this enthusiasm was self-evident, as three in four domestic overnight visitors cited this as a reason for visiting. With the rebound in the cruise industry, travelers resumed this activity in 2022, although mostly in the second half of the year.

Business travel was cited at about the same levels as it has been over the past few years. With businesses cutting back and employees working remotely, many companies have held back from fully engaging in face-to-face meetings, but by the end of the year more and more visitors returned for this purpose.

All Reasons for Visit 2020 Q1*

2020 Q4*

2021

2022

Vacation/Pleasure

49%

59%

61%

73%

Visit friends

11%

13%

17%

18%

Visit relatives

6%

13%

13%

16%

Business

32%

15%

13%

15%

Cruise

25%

0%

1%

10%

Food/Gastro-tourism

2%

7%

6%

5%

Shopping

2%

8%

5%

4%

Meeting/Convention

5%

0%

1%

2%

Q. What was the MAIN purpose of your visit to the Greater Miami Area?

Q. Were there any OTHER purposes of your visit to the Greater Miami Area? *Surveying took place in Q1 and Q4 of 2020. Data collection was halted at the start of the pandemic and resumed in October 2020.

Visitor Industry Overview 2022

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MiamiandMiamiBeach.com

Domestic Overnight Visitors – Type of Lodging Domestic visitors continue to be attracted to Greater Miami & Miami Beach's robust array of hotels for every type of visitor. One in four travelers said they were staying with friends and family, a trend which has been consistent since the latter part of 2020. Meanwhile, usage of home sharing/peer-to-peer rentals was on par with previous years.

Type of Lodging Hotel/Motel/Resort/Spa

Home sharing/peer-to-peer rentals

Stayed with friends/relatives

100%

81% 80% 69%

65%

66%

22%

23%

60%

40%

20%

20%

0%

11% 8%

11%

2020 Q1*

2020 Q4*

14%

2021

11% 2022

NOTE: Only includes accommodation types with more than 3% in each segment Q. What type of lodging have you used during this visit? *Surveying took place in Q1 and Q4 of 2020. Data collection was halted at the start of the pandemic and resumed in October 2020.

MiamiandMiamiBeach.com

17

Visitor Industry Overview 2022

Domestic Overnight Visitors – Accommodations Area Miami Beach remains the most popular area for domestic visitors to stay. Downtown Miami/Brickell was also popular. North Dade appears to have had a slight uptick in popularity.

Accommodations Area AREA

2020 Q1*

2020 Q4*

2021

2022

Miami Beach

38%

49%

53%

44%

Downtown Miami/Brickell

12%

13%

18%

19%

North Dade

1%

1%

5%

9%

South Miami

7%

8%

7%

7%

Sunny Isles

1%

1%

4%

6%

Coral Gables

4%

6%

6%

5%

Airport Area

25%

12%

9%

3%

Aventura

4%

3%

4%

3%

Doral

7%

5%

3%

3%

Coconut Grove

1%

3%

3%

2%

Kendall

1%

3%

3%

2%

Key Biscayne

2%

2%

2%

2%

Homestead

2%

3%

1%

1%

South Dade

0%

1%

1%

1%

Q. In what area(s) did you stay? Select all that apply. *Surveying took place in Q1 and Q4 of 2020. Data collection was halted at the start of the pandemic and resumed in October 2020.

Visitor Industry Overview 2022

18

MiamiandMiamiBeach.com

Domestic Overnight Visitors – Mode of Transportation The primary mode of transportation for travel into Greater Miami & Miami Beach was via air travel. Miami International Airport is the primary feeder airport for Greater Miami & Miami Beach domestic overnight visitors, but one in four visitors also utilize Fort Lauderdale-Hollywood International Airport.

Mode of Transportation

Flew into MIA

Flew into FLL

Drove to Miami

75% 62% 57%

56%

59%

50%

29% 25%

25%

24%

19%

19%

18%

2020 Q4*

2021

2022

19% 14%

0%

2020 Q1*

Q. Which modes of transportation did you use to get to the Greater Miami & Miami Beach Area?

Q. At what airport did you arrive? *Surveying took place in Q1 and Q4 of 2020. Data collection was halted at the start of the pandemic and resumed in October 2020.

MiamiandMiamiBeach.com

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Visitor Industry Overview 2022

Domestic Overnight Visitors – Neighborhoods Visited Miami Beach remains the most popular area for domestic visitors to visit. Downtown Miami/Brickell was also popular, increasing slightly over the prior year. Other areas of interest continue to attract these visitors, including South Dade, Wynwood, Little Havana, Aventura and many others.

Neighborhoods Visited NEIGHBORHOOD

2020

2021

2022

Miami Beach

49%

50%

50%

Downtown Miami/Brickell

21%

19%

24%

South Dade

14%

14%

17%

Aventura

5%

12%

15%

Wynwood

15%

13%

13%

Little Havana

9%

12%

12%

Doral

6%

5%

12%

Coral Gables

10%

8%

10%

Coconut Grove

7%

9%

9%

Key Biscayne

11%

9%

9%

Homestead

7%

4%

7%

Design District

4%

6%

6%

Little Haiti

4%

5%

5%

Historic Overtown

8%

5%

5%

Bal Harbour

5%

5%

4%

South Miami

5%

3%

3%

Miami Gardens

3%

1%

2%

Everglades

1%

1%

1%

Data derived from mobile devices that were present in specific areas of Miami-Dade County during the specified year.

MiamiandMiamiBeach.com

20

Visitor Industry Overview 2022

Domestic Overnight Visitors – Top Places of Interest Popular areas such as Lincoln Road, Miami Seaquarium and Wynwood Walls continue to attract attention from overnight visitors, along with Bayside Marketplace and others.

Areas/Attractions Visited 16% 17% 17%

Lincoln Road

13% 13% 13%

Miami Seaquarium

12% 12%

Wynwood Walls

14%

2021 2020

10% 11% 10%

Bayside Marketplace

Calle Ocho/Little Havana

2022

5% 5% 6%

Zoo Miami

4% 4% 4%

CocoWalk/Coconut Grove

4% 4% 3%

Data derived from mobile devices that were present in specific areas of Miami-Dade County during the specified year.

MiamiandMiamiBeach.com

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Visitor Industry Overview 2022

Domestic Overnight Visitors – Top Places of Interest Greater Miami & Miami Beach is known for its beaches, and domestic visitors to the area continue to show similar levels of interest. The popularity of the area’s parks also was evident, as this was on par with last year and higher than 2019.

Popular Places Visited Beaches

39%

49% 51%

14% 14% 15%

Any Place on Ocean Drive

Parks

22% 22%

7% 15% 17% 15%

Clubs/Night Clubs

Tour of the City 3% 3% 3%

Museums

3% 3% 3%

Concerts

3% 3% 2%

Theaters

2% 2% 1%

2021 2020

18% 19%

7%

Art Galleries

2022

Data derived from mobile devices that were present in specific areas of Miami-Dade County during the specified year.

MiamiandMiamiBeach.com

22

Visitor Industry Overview 2022

Domestic Overnight Visitors – Shopping Areas Visited Visitors are attracted to many shopping destinations in Greater Miami & Miami Beach, among them Brickell City Centre, Bal Harbour Shops and other popular shopping malls. Luxury shopping is an activity enjoyed by many visitors to the area.

Shopping Areas Visited Brickell City Centre*

6% 6%

Bal Harbour Shops

6% 6%

Dolphin Mall

5% 5%

3%

5% 5%

Aventura Mall Dadeland Mall

2% 3% 3%

Design District

3% 3% 1%

2% 2%

Miami International Mall

2% 2% 2% 1% 1% 1%

Cauley Square Historic Village

1% 1%

Westland Mall

1% 1%

2022 2021 2020

4% 4%

2% 2%

The Falls Shopping Center

Shops at Merrick Park

6%

4% 4%

Midtown

Southland Mall

7%

4%

2% 2%

Data derived from mobile devices that were present in specific areas of Miami-Dade County during the specified year.

MiamiandMiamiBeach.com

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Visitor Industry Overview 2022

Domestic Overnight Visitors – Age and Party Size The age makeup of domestic visitors was slightly older than in the past few years, but visitors aged 25-34 years of age were still the most dominant segment.

For the second year in a row, visitors were twice as likely to be traveling to Greater Miami & Miami Beach with children as compared to 2020.

Age and Party Size

18%

15%

9%

8%

12%

12%

20%

21%

20%

19% 45-54

39%

36%

2020 Q1*

55+

24% 40%

11%

16%

25-34 30%

19%

20%

2020 Q4*

2021

18-24

10% 2022

Percent with any children in the party: 9% 8% 16%

17%

Average Party Size: 2.9 2.2

2.6

2.6

35-44

Q. Which of the following age groups are you in?

Q. Including yourself, how many people from each of the following age categories were in your immediate travel party? *Surveying took place in Q1 and Q4 of 2020. Data collection was halted at the start of the pandemic and resumed in October 2020.

Visitor Industry Overview 2022

24

MiamiandMiamiBeach.com

International Overnight Visitor Profile

MiamiandMiamiBeach.com

25

Visitor Industry Overview 2022

International Overnight Visitors – Purpose of Visit Similar to domestic travelers, international overnight visitors overwhelmingly stated they were in the area for a vacation/pleasure trip. The proportion of travelers who visited Greater Miami & Miami Beach for shopping did slightly decrease.

Visitation to the area to visit relatives continued to be popular, and this has increased over the past few years. Furthermore, cruising has returned and this activity improved greatly in the last six months of the year.

All Reasons for Visit 2020 Q1*

2020 Q4*

2021

2022

Vacation/Pleasure

75%

54%

50%

71%

Visit relatives

16%

22%

21%

29%

Visit friends

15%

19%

19%

19%

Shopping

17%

30%

24%

14%

Business

16%

11%

15%

10%

Cruise

13%

1%

2%

7%

Food/Gastro-tourism

4%

4%

4%

5%

Meeting/Convention

4%

1%

1%

2%

Q. What was the MAIN purpose of your visit to the Greater Miami & Miami Beach Area?

Q. Were there any OTHER purposes of your visit to the Greater Miami & Miami Beach Area? *Surveying took place in Q1 and Q4 of 2020. Data collection was halted at the start of the pandemic and resumed in October 2020.

MiamiandMiamiBeach.com

26

Visitor Industry Overview 2022

International Overnight Visitors –Type of Accommodations Fairly consistent with previous years, international overnight visitors still prefer hotels by a sizable margin. However, staying with friends and family is also quite common.

Type of Accommodations Hotel/Motel/Resort/Spa

Home sharing/peer-to-peer rentals

Stayed with friends/relatives 100%

80% 66% 60%

50% 38%

40%

20%

0%

48% 42%

53%

37%

21% 13%

2020 Q1*

12%

10%

2020 Q4*

2021

10%

2022

NOTE: Only includes accommodation types with more than 3% in each segment Q. What type of lodging have you used during this visit? *Surveying took place in Q1 and Q4 of 2020. Data collection was halted at the start of the pandemic and resumed in October 2020.

Visitor Industry Overview 2022

27

MiamiandMiamiBeach.com

International Overnight Visitors – Accommodations Area Miami Beach continues to maintain the most popularity for lodging among international travelers, followed by North Dade and Downtown Miami/Brickell. North Dade became considerably more popular in 2022 than it was in the past.

Accommodations Area AREA

2020 Q1*

2020 Q4*

2021

2022

Miami Beach

38%

37%

32%

45%

North Dade

2%

2%

10%

19%

Downtown Miami/Brickell

15%

12%

11%

13%

Airport Area

16%

11%

13%

9%

Aventura

4%

9%

9%

5%

Coral Gables

5%

4%

7%

5%

South Miami

4%

3%

3%

5%

Doral

9%

10%

10%

4%

Sunny Isles

2%

2%

3%

3%

Kendall

6%

9%

8%

2%

Key Biscayne

4%

3%

3%

2%

Coconut Grove

3%

3%

2%

2%

Homestead

1%

2%

1%

1%

South Dade

1%

2%

1%

1%

Q. In what area(s) did you stay? Select all that apply. *Surveying took place in Q1 and Q4 of 2020. Data collection was halted at the start of the pandemic and resumed in October 2020.

MiamiandMiamiBeach.com

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Visitor Industry Overview 2022

International Overnight Visitors – Mode of Transportation Three in four international overnight visitors flew into Miami International Airport, while only a fraction came in through Fort Lauderdale-Hollywood International Airport. Visitors mentioned they drove to Greater Miami & Miami Beach on par with the previous year.

Mode of Transportation

Flew into MIA

Flew into FLL

Drove to Miami

100% 83%

84%

80%

74%

74%

19%

17%

60%

40%

20%

0%

10%

8%

7%

8%

7%

9%

2020 Q1*

2020 Q4*

2021

2022

Q. Which modes of transportation did you use to get to the Greater Miami & Miami Beach Area?

Q. At what airport did you arrive? *Surveying took place in Q1 and Q4 of 2020. Data collection was halted at the start of the pandemic and resumed in October 2020.

Visitor Industry Overview 2022

29

MiamiandMiamiBeach.com

International Overnight Visitors – Age and Party Size The age of international travelers skewed a bit older than in previous years. In the past, visitors aged 25-34 years old have been the predominant age segment but in 2022, the 35-44 and 45-54-year-old segment proportions were basically equal. One in five travelers came with their children.

Age and Party Size 11%

8%

9% 9%

18%

16%

19% 23%

55+ 24%

26%

23%

45-54 35-44

24% 41%

25-34 34%

32%

25% 16%

18%

15%

2020 Q1*

2020 Q4*

2021

2022

Percent with any children in the party: 13% 10% 25%

19%

Average Party Size: 2.3 1.9

2.3

2.1

18-24

9%

Q. Which of the following age groups are you in?

Q. Including yourself, how many people from each of the following age categories were in your immediate travel party? *Surveying took place in Q1 and Q4 of 2020. Data collection was halted at the start of the pandemic and resumed in October 2020.

MiamiandMiamiBeach.com

30

Visitor Industry Overview 2022

Florida Resident Overnight Visitor Profile

MiamiandMiamiBeach.com

31

Visitor Industry Overview 2022

Florida Resident Overnight Visitors – Purpose of Visit While Florida residents come to the area primarily for vacation and pleasure, visiting friends and family is very popular and these continue to be the next most popular reasons to visit. Shopping is also a popular activity.

While the cruise industry was still recovering in the first half of 2022, cruising resumed in the summer and subsequently, more residents mentioned that they came for a cruise.

All Reasons for Visit 2020

2021

2022

Vacation/Pleasure

63%

58%

67%

Visit friends

38%

40%

35%

Visit relatives

26%

31%

29%

Shopping

23%

29%

26%

Food/Gastro-tourism

14%

13%

16%

Business

19%

20%

15%

Special Events

14%

13%

14%

Cruise

6%

6%

9%

Sports

8%

7%

7%

Convention

5%

7%

6%

Q. What was the MAIN purpose of your visit to the Greater Miami & Miami Beach Area?

Q. Were there any OTHER purposes of your visit to the Greater Miami & Miami Beach Area?

MiamiandMiamiBeach.com

32

Visitor Industry Overview 2022

Florida Resident Overnight Visitors –Type of Lodging Hotel stays among Florida residents have been trending downward over the past few years compared to prior years, while staying with friends and family has increased substantially.

Home sharing remains relatively low.

Type of Lodging Hotel/Motel/Resort/Spa

Home sharing/peer-to-peer rentals

Stayed with friends/relatives 100%

80% 65% 60%

55%

40%

20%

52%

36% 33%

21%

12%

12%

14% 0%

2020

2021

2022

Q. What type of lodging have you used during this visit?

Visitor Industry Overview 2022

33

MiamiandMiamiBeach.com

Florida Resident Overnight Visitors – Accommodations Area Miami Beach is normally one of the most popular places to stay for Florida residents, and this past year was no exception. Downtown Miami/Brickell, South Miami, the Airport Area and Coral Gables were next in line.

Accommodations Area AREA

2020

2021

2022

Miami Beach

37%

53%

56%

Downtown Miami/Brickell

13%

16%

16%

South Miami

14%

17%

15%

Airport Area

18%

14%

13%

Coral Gables

11%

12%

13%

Coconut Grove

10%

10%

11%

Aventura

7%

8%

8%

Homestead

6%

7%

7%

South Dade

7%

7%

7%

Doral

7%

6%

6%

Kendall

7%

6%

6%

Key Biscayne

6%

5%

6%

North Dade

5%

4%

4%

Sunny Isles

5%

3%

4%

Q. In what area(s) did you stay? Select all that apply.

Visitor Industry Overview 2022

34

MiamiandMiamiBeach.com

Florida Resident Overnight Visitors – Mode of Transportation Florida residents almost exclusively drive to Greater Miami & Miami Beach for their trips. While relatively few fly, the proportion of Floridians who used Miami International Airport has increased steadily from a few years ago as more flight options are now available.

Mode of Transportation Flew into MIA

Flew into FLL

Drove to Miami

100% 94% 80%

99%

86%

60%

40%

20%

0%

16%

11%

13%

3%

2%

4%

2020

2021

2022

Q. Which modes of transportation did you use to get to the Greater Miami Area? Totals may equal more than 100% Q. At what airport did you arrive?

Visitor Industry Overview 2022

35

MiamiandMiamiBeach.com

Florida Resident Overnight Visitors – Areas Visited Visitation to the area was consistent with 2021, with the bulk of Florida Resident overnight visitors going to Miami Beach, followed by Downtown Miami/Brickell and South Miami. Coconut Grove, Coral Gables, Miami Gardens and Aventura are also popular. Steadily increasing, visitation to the Everglades has been trending upward.

Areas Visited NEIGHBORHOOD

2020

2021

2022

Miami Beach

44%

42%

44%

Downtown Miami/Brickell

35%

36%

38%

South Miami

23%

21%

23%

Coconut Grove

19%

17%

18%

Coral Gables

19%

19%

17%

Miami Gardens

16%

17%

16%

Aventura

20%

16%

16%

Little Havana

13%

10%

12%

Everglades

**

7%

11%

Hialeah

**

8%

10%

Design District

9%

8%

10%

Key Biscayne

10%

8%

10%

Doral

12%

10%

9%

South Dade

11%

11%

9%

Bal Harbour

12%

11%

8%

Homestead

**

8%

9%

Historic Overtown

**

6%

8%

Little Haiti

7%

6%

7%

Wynwood

7%

7%

7%

Q. Did you visit (or do you plan to visit) any of the following places during THIS visit to the Greater Miami & Miami Beach Area?

NOTE: Percentages indicate the % of respondents that visited a particular neighborhood and do not reflect if a respondent made multiple visits to that neighborhood on that trip.

Visitor Industry Overview 2022

36

MiamiandMiamiBeach.com

Florida Resident Overnight Visitors –Top Places of Interest It’s quite clear that Florida residents flock to Miami’s beaches. In 2022, beaches remained at the top of the list of places they visited. During the past two years, interest in museums and clubs has gained popularity.

Top Places of Interest 47% 49% 46%

Beaches

Clubs/Night Clubs

27% 23% 20%

Parks

26% 25% 27%

Museums

14% 13%

18% 15% 18%

Any Place on Ocean Drive

2022 2021 2020

17% 20% 18%

Tour of the City

Concerts

10% 8% 7%

Art Galleries

8% 7% 10%

Theaters

21%

8% 6% 8%

Q. Did you visit (or do you plan to visit) any of the following places during THIS visit to the Greater Miami & Miami Beach Area?

Visitor Industry Overview 2022

37

MiamiandMiamiBeach.com

Florida Resident Overnight Visitors –Top Places of Interest Attractions like Bayside Marketplace, Miami Beach’s Art Deco District, CocoWalk, Biscayne National Park and others generally attract the most Floridians who are staying overnight.

Top Places of Interest Bayside Marketplace

14%

Art Deco District

13% 14%

CocoWalk

11% 12%

Biscayne National Park

11% 12%

18%

16% 18%

15%

13%

Haulover Beach

9%

Vizcaya Museum and Gardens

8% 9%

Fairchild Tropical Botanic Garden

8% 9%

Calle Ocho/Little Havana

6%

2022

12%

11%

2021

12%

2020

12%

12%

8% 11%

Lincoln Road

10%

Everglades

10% 9%

12%

11%

Q. Did you visit (or do you plan to visit) any of the following places during THIS visit to the Greater Miami & Miami Beach Area?

Entertainment, attractions, parks Visitor Industry Overview 2022

38

MiamiandMiamiBeach.com

Florida Resident Overnight Visitors – Shopping Areas Visited Shopping has become a more popular activity for Floridians who visit the area over the past few years. Miami International Mall and Aventura Mall remain among the most frequented shopping areas for Floridians.

Shopping Areas Visited

Miami International Mall

15% 15%

Aventura Mall

13% 14%

17%

16%

13% 12% 13%

Dolphin Mall

Mall of the Americas

8%

Westland Mall

7% 7% 7%

Bal Harbour Shops

6% 7% 7%

Design District

6% 6% 6%

Dadeland Mall

6% 6%

Midtown

5% 6%

10%

2022

10%

2021 2020

8%

8%

Q. Did you visit (or do you plan to visit) any of the following places during THIS visit to the Greater Miami & Miami Beach Area?

Shopping areas Visitor Industry Overview 2022

39

MiamiandMiamiBeach.com

Florida Resident Overnight Visitors – Age and Party Size Similar to 2021, the age of the Florida resident overnight visitor spending the night in the area has become younger as compared to a few years ago, mostly under 45 years of age. Almost a third come to the area with their children.

Age and Party Size

25%

20%

14%

55+

13%

45-54

13% 16% 30%

35-44

33%

25-34

31%

22%

24%

15%

16%

2021

2022

18-24

18% 10% 2020

Percent with any children in the party: 32% 30% Average Party Size: 3.0 2.8

32% 2.8

Q. Which of the following age groups are you in?

Q. Including yourself, how many people from each of the following age categories were in your immediate travel party?

Visitor Industry Overview 2022

40

MiamiandMiamiBeach.com

Day Visitation - Market Analysis

Visitor Industry Overview 2022

41

MiamiandMiamiBeach.com

Top 20 Domestic Markets – Day Tripper Visitors Visitors who come to Greater Miami & Miami Beach often stay outside of the area for any number of reasons. Overall domestic day trips decreased year over year as many more visitors decided they would prefer to stay somewhere in Miami.

Top domestic day tripper volumes receded from last year and are presently much more in line with 2019. The only exception was Los Angeles, which actually grew slightly year over year.

Greater Miami & Miami Beach – Day Domestic Visitors 2019 Volume (000s)

2020 Volume (000s)

2021 Volume (000s)

2022 Volume (000s)

Variance to 2021 (%)

New York City

441

247

640

445

-30%

Atlanta

118

78

184

134

-27%

Chicago

125

77

177

111

-37%

Philadelphia

112

54

124

89

-28%

Los Angeles

99

46

85

89

5%

Boston

65

47

104

83

-20%

Washington, DC

96

44

108

80

-26%

Dallas

74

49

127

78

-38%

Houston

60

41

118

71

-40%

Detroit

55

35

80

56

-30%

Charlotte

22

25

60

41

-32%

Denver

34

22

54

36

-33%

Raleigh

29

18

41

31

-25%

Minneapolis

35

23

42

30

-28%

Baltimore

25

16

43

29

-31%

Cleveland

30

17

40

28

-30%

Hartford

29

12

35

27

-22%

New Orleans

18

12

38

27

-30%

Nashville

29

14

36

25

-30%

Kansas City

18

14

34

24

-29%

MARKET

Q. What is your zip code?

Visitor Industry Overview 2022

42

MiamiandMiamiBeach.com

Top Florida Resident Markets – Day Tripper Visitors Floridians have many options to travel to nearby destinations, but Greater Miami & Miami Beach draws a lot of interest. Day trip visitation from the Palm Beach and Tampa markets improved from 2021. Of all markets, Orlando was the only one to match and exceed the volume of visitors compared to pre-pandemic levels.

Greater Miami & Miami Beach Day Trip Florida Resident Visitors

MARKET

2019 Volume (000s)

2020 Volume (000s)

2021 Volume (000s)

2022 Volume (000s)

Variance to 2021 (%)

Palm Beach

1,946

643

1,354

1,817

34%

Orlando

542

425

780

757

-3%

Tampa/St. Petersburg

520

334

405

456

13%

Naples/Fort Myers

585

124

532

366

-31%

Jacksonville

268

129

282

269

-5%

Other

203

27

154

166

8%

Q. What is your zip code?

Visitor Industry Overview 2022

43

MiamiandMiamiBeach.com

Domestic Day Trip Visitor Profile

Visitor Industry Overview 2022

44

MiamiandMiamiBeach.com

Domestic Day Trip Visitors – Purpose of Visit While leisure travel remains the top reason for visiting Greater Miami & Miami Beach, visiting friends/families and special events have also gained in popularity.

By mid-year, passenger volume at PortMiami rebounded to what it was pre-pandemic and was on par with the beginning of 2020.

All Reasons for Visit 2020 Q1*

2020 Q4*

2021

2022

Vacation/Pleasure

78%

57%

65%

71%

Visit relatives

16%

24%

16%

28%

Visit friends

24%

15%

18%

22%

Special events

0%

0%

9%

16%

Business

14%

12%

10%

9%

Sports

8%

3%

1%

8%

Cruise

8%

3%

2%

8%

Food/Gastro-tourism

8%

6%

8%

5%

Shopping

3%

14%

5%

4%

Meeting/Convention

0%

1%

1%

1%

Q. What was the MAIN purpose of your visit to the Greater Miami & Miami Beach Area?

Q. Were there any OTHER purposes of your visit to the Greater Miami & Miami Beach Area? *Surveying took place in Q1 and Q4 of 2020. Data collection was halted at the start of the pandemic and resumed in October 2020.

MiamiandMiamiBeach.com

45

Visitor Industry Overview 2022

Domestic Day Trip Visitors – Neighborhoods Visited Day visitors from other parts of the U.S. often head over to the beach and, not surprisingly, Miami Beach is among the most often visited neighborhoods. Both South Dade and Downtown Miami/Brickell were more popular than in prior years.

Neighborhoods Visited NEIGHBORHOOD

2020

2021

2022

Downtown Miami/Brickell

25%

22%

26%

South Dade

17%

16%

25%

Miami Beach

26%

23%

18%

Aventura

10%

11%

15%

Coral Gables

9%

6%

10%

Wynwood

14%

12%

6%

Miami Design District

7%

5%

5%

South Miami

5%

5%

5%

Doral

7%

3%

3%

Key Biscayne

7%

6%

3%

Miami Gardens

2%

1%

3%

Little Havana

6%

4%

2%

Bal Harbour

4%

3%

2%

Coconut Grove

5%

2%

2%

Little Haiti

2%

1%

1%

Data derived from mobile devices that were present in specific areas of Miami-Dade County during the specified year.

MiamiandMiamiBeach.com

46

Visitor Industry Overview 2022

Domestic Day Trip Visitors –Top Places of Interest Areas such as Wynwood Walls, Bayside Marketplace and Lincoln Road continued to be popular for day excursions, along with trips to attractions like Miami Seaquarium and Zoo Miami.

Areas/Attractions Visited

Wynwood Walls

9%

10% 11% 12%

Bayside Marketplace

7%

Lincoln Road

7%

8%

2022

7% 7% 7%

Miami Seaquarium

Zoo Miami

4% 4%

Calle Ocho/Little Havana

4% 4%

CocoWalk/Coconut Grove

12% 12%

2021 2020

5%

6%

2% 2% 2%

Data derived from mobile devices that were present in specific areas of Miami-Dade County during the specified year.

MiamiandMiamiBeach.com

47

Visitor Industry Overview 2022

Domestic Day Trip Visitors – Shopping Areas Visited Aventura Mall continued to see sizable proportions of domestic day trip visitors. Other locations, such as Bal Harbour Shops and Miami International Mall, remained popular.

Shopping Areas Visited 6% 6% 6%

Aventura Mall

Bal Harbour Shops

3%

Miami International Mall

1%

2% 2% 2%

Design District

Dolphin Mall

1%

Midtown

Dadeland Mall

2% 2%

1%

0% 0%

4% 4%

2022 2021 2020

2% 2%

2% 2%

1%

Data derived from mobile devices that were present in specific areas of Miami-Dade County during the specified year.

MiamiandMiamiBeach.com

48

Visitor Industry Overview 2022

Domestic Day Trip Visitors – Age and Party Size The age breakdown of Domestic day trippers has started to skewed a bit older than in recent years, with those in the upper age brackets increasing year after year. Along with this, more visitors are bringing their children than in previous years.

Age and Party Size 5% 27%

9%

7%

8%

14%

45-54

22%

14%

29% 35%

35%

24%

35-44

25-34 32%

24%

55+

19% 24%

30%

11%

18-24

21% 9%

2020 Q1*

2020 Q4*

2021

2022

Percent with any children in the party: 18% 12%

21%

30%

Average Party Size: 3.0

3.0

30

2.9

Q. Which of the following age groups are you in?

Q. Including yourself, how many people from each of the following age categories were in your immediate travel party? *Surveying took place in Q1 and Q4 of 2020. Data collection was halted at the start of the pandemic and resumed in October 2020.

Visitor Industry Overview 2022

49

MiamiandMiamiBeach.com

International Day Trip Visitor Profile

Visitor Industry Overview 2022

50

MiamiandMiamiBeach.com

International Day Trip Visitors – Purpose of Visit International visitors are quite likely to be visiting friends/family while in Greater Miami & Miami Beach, a trend that has grown in recent years. They also frequently mention that they are in the area for a vacation or attend special events.

Being cost-conscious, international day visitors appear to be less likely to shop while on their day trip. This activity peaked in late 2020 and has since decreased.

All Reasons for Visit 2020 Q1*

2020 Q4*

2021

2022

Visit relatives

10%

19%

35%

53%

Vacation/Pleasure

87%

57%

41%

43%

Visit friends

18%

19%

26%

22%

Special Event

6%

0%

9%

11%

Shopping

26%

50%

21%

10%

Meeting/Convention

3%

0%

0%

10%

Business

9%

12%

9%

7%

Cruise

10%

0%

1%

5%

Food/Gastro-tourism

6%

12%

5%

3%

Sporting Event

8%

0%

2%

2%

Q. What was the MAIN purpose of your visit to the Greater Miami & Miami Beach Area?

Q. Were there any OTHER purposes of your visit to the Greater Miami & Miami Beach Area? *Surveying took place in Q1 and Q4 of 2020. Data collection was halted at the start of the pandemic and resumed in October 2020.

MiamiandMiamiBeach.com

51

Visitor Industry Overview 2022

International Day Trip Visitors – Age and Party Size The age distribution of international visitors who were interviewed throughout Miami-Dade County shifted to the upper age brackets in 2022, with a substantial proportion of visitors who were aged 55+. This offset the age of the younger visitor; in the beginning of 2020, 46% were aged 34 or less. In 2022, this decreased by 10 percentage points.

Age and Party Size 6% 23%

6%

12%

18%

55+

24%

45-54

19%

12% 16%

19%

24%

35-44 23% 44%

38%

25-34

31% 26%

18-24 15%

16%

18%

2020 Q1*

2020 Q4*

2021

2022

Percent with any children in the party: 24% 4% 35%

27%

Average Party Size: 3.1

2.3

2.5

2.1

10%

Q. Which of the following age groups are you in?

Q. Including yourself, how many people traveled in your IMMEDIATE party on this trip to the Greater Miami & Miami Beach area?

Q. Including yourself, how many people from each of the following age categories were in your immediate travel party? *Surveying took place in Q1 and Q4 of 2020. Data collection was halted at the start of the pandemic and resumed in October 2020.

Visitor Industry Overview 2022

52

MiamiandMiamiBeach.com

Florida Resident Day Trip Visitor Profile

Visitor Industry Overview 2022

53

MiamiandMiamiBeach.com

Florida Resident Day Trip Visitors – Purpose of Visit Florida resident day trippers came to Greater Miami & Miami Beach primarily for vacation and pleasure. However, like many domestic and international visitors, more Floridians than in prior years have been saying they were in the area to see their friends and family. In the past few years, there has been an influx of people who have moved to the area and, naturally, their friends and family come to visit.

All Reasons for Visit 2020

2021

2022

Vacation/Pleasure

47%

49%

49%

Visit friends

28%

32%

33%

Visit relatives

26%

25%

25%

Shopping

23%

25%

24%

Food/Gastro-tourism

15%

16%

17%

Business

17%

15%

16%

Special Event

9%

11%

12%

Cruise

8%

4%

8%

Sporting Event

7%

5%

8%

Medical reasons

**

8%

6%

Meeting/Convention

5%

4%

8%

Non-sporting competition

**

1%

3%

Q. What was the MAIN purpose of your visit to the Greater Miami & Miami Beach Area?

Q. Were there any OTHER purposes of your visit to the Greater Miami & Miami Beach Area? **Not asked in prior years MiamiandMiamiBeach.com

54

Visitor Industry Overview 2022

Florida Resident Day Trip Visitors – Areas Visited Florida Resident Day Trip visits are spread throughout the county, but Downtown Miami/Brickell and Miami Beach are clearly the top areas. Downtown Miami/Brickell continues to evolve into its own destination and an area that Floridians enjoy visiting.

Much like 2021, South Miami, Aventura, Miami Gardens, Coconut Grove and Coral Gables round out the rest of the most visited areas in 2022.

Areas Visited NEIGHBORHOOD

2020

2021

2022

Downtown Miami

31%

34%

34%

Miami Beach

29%

30%

32%

Aventura

18%

16%

16%

South Miami

16%

18%

16%

Coral Gables

15%

13%

14%

Miami Gardens

13%

16%

14%

Coconut Grove

14%

13%

12%

Hialeah

9%

8%

12%

Bal Harbour

8%

9%

10%

Design District

8%

7%

10%

Everglades

8%

8%

10%

Doral

9%

8%

9%

Homestead

7%

7%

9%

Little Havana

8%

8%

7%

South Dade

8%

7%

7%

Historic Overtown

6%

6%

7%

Key Biscayne

6%

5%

6%

Little Haiti

4%

4%

6%

Wynwood

6%

6%

5%

Westgate

3%

4%

3%

Q. Did you visit (or do you plan to visit) any of the following places during THIS visit to the Greater Miami & Miami Beach Area?

NOTE: Percentages indicate the % of respondents that visited a particular neighborhood and do not reflect if a respondent made multiple visits to that neighborhood on that trip.

Visitor Industry Overview 2022

55

MiamiandMiamiBeach.com

Florida Resident Day Trip Visitors –Top Places of Interest The desire to go to Miami’s beaches remains strong and continues to trend upward. Interest in parks, museums, art galleries and clubs is on par or greater than in 2020, although down from 2021 in some cases.

Top Places of Interest 36% 34% 32%

Beaches 28% 27% 24%

South Beach 21% 20% 19%

Parks

19%

Museums

11%

Tour of the City

16% 16% 15%

Clubs/Night Clubs

16% 15%

11%

Theaters

2022 2021 2020

13% 11% 11%

Any Place on Ocean Drive

Art Galleries

25%

8% 5% 6%

11%

10%

5%

Q. Did you visit (or do you plan to visit) any of the following places during THIS visit to the Greater Miami & Miami Beach Area?

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Florida Resident Day Trip Visitors –Top Places of Interest Top visited places by Florida resident day trippers were consistent with last year, with areas like the Art Deco District, Bayside Marketplace and Biscayne National Park on their list of places to visit.

Top Places of Interest 12% 9% 10%

Art Deco District

11% 10% 10%

Bayside Marketplace

10% 9% 8%

Biscayne National Park

Everglades

8% 8%

CocoWalk

7%

10%

9% 9%

8% 9% 8%

Lincoln Road

Calle Ocho/Little Havana

8% 7% 7%

Haulover Beach

7% 8% 7%

Vizcaya Museum and Gardens

7% 6% 7%

Fairchild Tropical Botanic Garden

6% 7% 5%

2022 2021 2020

Q. Did you visit (or do you plan to visit) any of the following places during THIS visit to the Greater Miami & Miami Beach Area?

Entertainment, attractions and parks Visitor Industry Overview 2022

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Florida Resident Day Trip Visitors – Shopping Areas Visited Floridians often came to the area to shop, and their top spots included Miami International Mall, Aventura Mall, Dolphin Mall and a host of other excellent shopping areas.

Shopping Areas Visited

Miami International Mall

9%

11% 11%

Aventura Mall

9% 10% 9%

Dolphin Mall

9% 10% 8%

Mall of the Americas

5% 5%

Lincoln Road

5% 4% 4%

Westland Mall

4% 4% 4%

Midtown

Brickell City Centre

7%

2022 2021 2020

4%

5% 5%

3% 4% 4%

Q. Did you visit (or do you plan to visit) any of the following places during THIS visit to the Greater Miami & Miami Beach Area?

Shopping areas Visitor Industry Overview 2022

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Florida Resident Day Trip Visitors – Age and Party Size Florida resident day trippers appear to be getting younger and are more likely to be traveling with their children than in the previous few years. In 2020, 45% of visitors were aged 45 or older. In 2022, this decreased to 30%.

Age and Party Size

29%

24% 10%

17% 13%

55+

45-54

16% 30%

31%

27%

16%

35-44

25-34 22%

23% 18-24

12%

14%

16%

2020

2021

2022

Percent with any children in the party: 18% 18% Average Party Size: 2.5 2.9

26% 2.7

Q. Which of the following age groups are you in?

Q. Including yourself, how many people from each of the following age categories were in your immediate travel party?

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Direct Economic Impact – Visitor Spending

Visitor Industry Overview 2022

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Total Visitor Spend Overall spending reached an all-time high, with more than $20 billion introduced into the local economy. This was driven the most by domestic visitor spending, which increased by 16% over the previous year.

International visitors spent less; part of this was due to their lodging choices of staying with friends and family as opposed to paid lodging. While this is the smallest segment, they still spend more proportionally as compared to Florida residents.

Total Visitor Spend SEGMENT

2019 ($B)

2020 ($B)

2021 ($B)

2022 ($B)

Variance to 2021 (%)

Domestic

$6.9

$4.1

$9.8

$11.4

16%

International

$8.4

$2.5

$6.5

$6.1

-7%

FL Resident

$2.6

$1.3

$3.0

$3.4

14%

Total

$17.9

$7.9

$19.2

$20.8

8%

2022 Visitor Vs. Expenditure Mix Percent of Visitors Percent of Expenditures Domestic

48%

22%

55%

30% 29%

International

16%

FL Resident

NOTE: Individual segments may not sum to total due to rounding.

Q. While visiting the Greater Miami & Miami Beach Area, did anybody in your immediate group spend money on…

Q. For each of these please indicate how much money you spent IN TOTAL ON YOUR TRIP, specifically in the GREATER MIAMI AREA. Please include in your estimate the money spent by EVERYONE in your IMMEDIATE party on YOUR TRIP. Visitor Industry Overview 2022

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Visitor Spending – Total and Per Person Spending in 2022 was buoyed by the record number of domestic visitors, who spent almost $11.4 billion across Miami-Dade County.

On a per person, per visit perspective, international travelers still spent far more than other visitors, and this is particularly evident with how much they spent on shopping.

Total Visitor Spending ($B) CATEGORY

Domestic % of Total

International % of Total

Florida Residents % of Total

Total % of Total

Lodging

5.7

50%

2.6

43%

1.4

42%

9.7

47%

All Meals

2.6

23%

1.2

19%

0.6

17%

4.3

21%

Transportation

1.3

11%

0.8

14%

0.5

13%

2.6

12%

Entertainment

0.8

7%

0.4

6%

0.3

10%

1.5

7%

Shopping

1.0

9%

1.1

18%

0.6

19%

2.7

13%

TOTAL

11.4

100%

6.1

100%

3.4

100%

20.8

100%

Per Person Per Visit Spending Domestic

International

Florida Residents

Total

Lodging

$447

$445

$179

$367

All Meals

$204

$197

$71

$163

Transportation

$101

$145

$58

$98

Entertainment

$61

$61

$41

$55

Shopping

$77

$189

$79

$102

TOTAL

$890

$1,037

$427

$785

CATEGORY

NOTE: Individual rows and columns may not sum to total due to rounding.

Q. While visiting the Greater Miami & Miami Beach Area, did anybody in your immediate group spend money on…

Q. For each of these please indicate how much money you spent IN TOTAL ON YOUR TRIP, specifically in the MIAMI AREA. Please include in your estimate the money spent by EVERYONE in your IMMEDIATE party on YOUR TRIP. Visitor Industry Overview 2022

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Appendix

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Visitor Industry Overview 2022

Methodology The GMCVB partners with Integrated Insights Inc. to conduct surveys at Miami International Airport (MIA), Ft. Lauderdale-Hollywood International Airport (FLL) and in various attractions, retail outlets and visitor centers throughout Miami-Dade County. Florida Resident visitors are interviewed continuously throughout the year via online survey panels. The 2022 study includes perspectives on the following: • Total overnight visitors by market segment • Purpose of visit, length of stay, party size, type and location of lodging used • Demographic characteristics • Expenditures by category Visitor volume calculations are done using a statistical model, which uses the following additional data inputs: • Miami International Airport arrivals • Fort Lauderdale-Hollywood International Airport arrivals • Airlines Reporting Corporation/IATA ticket sales to MIA and FLL • Mobile device data • STR • I92/I94 Visitor Arrivals The GMCVB utilizes mobile device data to provide more detailed information on the movement of visitors to Greater Miami & Miami Beach. This data supports the main visitor research program by providing more precise information on the origin of travelers as well as where they go while in the area.

This research, along with supplemental information about travel and tourism jobs, hotel occupancy data, airline arrivals and departures, as well as Miami-Dade County tax receipts, forms the foundation for determining the direct economic impact of visitors on the Miami-Dade County economy.

NOTE: Canada and Mexico i94 data based on those flying only.

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Miami Overnight Visitor Segment Profiles

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Domestic: Overnight Visitor Overview

Top Areas Stayed In

10.4M

44%

Visitors

(40% of total)

66%

Stay in hotels

40%

19%

7%

6%

Miami Beach Downtown North Dade South Miami Sunny Isles Miami/Brickell

It

5.1

Have HHI of $100k+

9%

$1,044 Total spend per person

Avg. Length of Stay

$550

$235

$116

$61

$82

Hotel

F&B

Transportation

Ent.

Shopping

Total Spend Per Person Visitor Industry Overview 2022

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Domestic: Overnight Visitor Overview

Top Visitor Markets (1,000s) 17% Family 2.6 Avg. Party Size

82% Fly

New York City

1,923

Atlanta

581

Chicago

481

Philadelphia

387

Los Angeles

384

Reasons for Visit:

Vacation/

73% Leisure

Visitor Industry Overview 2022

Visit Friends/

34% Family 67

15% Business MiamiandMiamiBeach.com

International: Overnight Visitor Overview

4.7M

45%

Visitors

Top Areas Stayed In 19%

53%

(18% of total)

Stay in hotels

Miami Beach

North Dade

13%

9%

Downtown Airport Miami Area

5%

4%

Aventura

Doral

$1,241

48%

It

7.0

Have HHI of $100k+

Total spend per person

Avg. Length of Stay

$548

$232

$174

$70

$217

Hotel

F&B

Transportation

Ent.

Shopping

Total Spend Per Person Visitor Industry Overview 2022

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International: Overnight Visitor Overview

Top Visitor Markets (1,000s) 19% Family 2.3 Avg. Party Size

72% Fly

Colombia

423

Brazil

286

Canada

251

Mexico

223

United Kingdom

209

Reasons for Visit:

Vacation/

71% Leisure

Visitor Industry Overview 2022

Visit Friends/

48% Family 69

14% Shopping MiamiandMiamiBeach.com

FL Residents: Overnight Visitor Overview

4.1M

52%

Top Areas Stayed In

Stay in hotels

(Among all overnight visitors)

56%

Visitors

16%

(16% of total) Miami Beach

28%

Total Spend Per Person Visitor Industry Overview 2022

15%

13%

11%

Downtown South Miami Airport Area Miami/Brickell

Coconut Grove

$662

Have HHI of $100k+

Total spend per person

$348

$117

Hotel

F&B

$59

$46

Transportation Ent. 70

$93 Shopping MiamiandMiamiBeach.com

FL Residents: Overnight Visitor Overview

3.1

32% Family 2.8 Avg. Party Size

Avg. Length of Stay

Top Neighborhoods Visited

Top Visitor Markets (1,000s)

Miami Beach

44%

Orlando

Downtown Miami/Brickell

38%

Tampa/St. Petersburg

853 804

1,199

South Miami

23%

Palm Beach

Coconut Grove

18%

Naples/Fort Myers

486

Coral Gables

17%

Jacksonville

418

Reasons for Visit:

67% Vacation/ Leisure Visitor Industry Overview 2022

Visit Friends/

64% Family 71

26% Shopping MiamiandMiamiBeach.com

Hotel Industry Recap

This section uses information sourced from STR

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2022 Hotel Industry Recap Greater Miami & Miami Beach offers a diverse hotel product for leisure and business travelers alike. Whether it’s a luxury resort or a quaint boutique hotel, visitors to Greater Miami & Miami Beach will find the right hotel to meet their travel needs. As one of the most-telling travel industry metrics, hotel performance for Miami-Dade County is closely monitored by the GMCVB and reported on regularly.

According to STR, the industry leader in hotel data, Miami-Dade County continued to exceed most other Top 25 U.S. Hotel Markets (defined as markets with the most hotel inventory) in 2022.

While destinations in Florida led among the most desirable domestic destinations, Miami-Dade County ended the year with an average hotel Occupancy rate of 72.1%, an increase of +8.0% compared to 2021, and ADR of $253.11, an increase of +14.0%. The changes in Occupancy and ADR resulted in RevPAR (revenue per available room) of $182.55, a net increase of +23.1%.

Airbnb and other home-sharing platforms’ inventory continued to grow and provide alternative lodging options for overnight visitors to Greater Miami & Miami Beach. Despite the sustained growth of Airbnb and other home-sharing platforms, Greater Miami & Miami Beach’s hotels continue to be favored by visitors to the area.

In 2022, Miami-Dade County ranked among the top 10 in all three major categories (Occupancy, ADR and RevPAR) when compared against the Top 25 U.S. Hotel Markets by STR. While Miami-Dade County sat at the top in terms of hotel performance, the reopening of other destinations resulted in more competition.

Miami-Dade County: #3 Average Daily Room Rate (ADR) #3 Revenue Per Available Room (RevPAR) #5 Occupancy

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TOP 25 HOTEL MARKETS RevPAR % Change

2022 Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

City New York Oahu Island Miami-Dade San Diego Anaheim Boston Los Angeles San Francisco Tampa Nashville Seattle Phoenix Orlando New Orleans Washington, DC Chicago Denver Philadelphia Norfolk Atlanta Dallas St. Louis Minneapolis Detroit Houston

Jan - Dec 2022

Jan - Dec 2021

22 vs 21

$215.16 $201.79 $182.55 $147.75 $143.68 $142.45 $142.42 $135.65 $119.27 $115.91 $111.81 $111.68 $109.37 $109.12 $100.72 $96.42 $95.94 $87.43 $79.61 $77.18 $75.69 $69.08 $68.42 $66.12 $59.87

$125.13 $125.12 $148.28 $101.76 $97.83 $79.98 $103.13 $72.80 $95.56 $80.76 $64.42 $80.91 $70.04 $68.35 $57.79 $60.40 $68.92 $66.26 $72.79 $60.35 $55.91 $52.44 $44.74 $53.01 $49.82

71.9% 61.3% 23.1% 45.2% 46.9% 78.1% 38.1% 86.3% 24.8% 43.5% 73.6% 38.0% 56.1% 59.7% 74.3% 59.6% 39.2% 31.9% 9.4% 27.9% 35.4% 31.7% 52.9% 24.7% 20.2%

Source: STR

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TOP 25 HOTEL MARKETS ROOM RATE % Change

2022 Rank

City

Jan - Dec 2022

Jan - Dec 2021

22 vs 21

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

New York Oahu Island Miami-Dade San Francisco Boston San Diego Anaheim Los Angeles New Orleans Nashville Seattle Tampa Washington, DC Phoenix Chicago Orlando Philadelphia Denver Norfolk Minneapolis Atlanta St. Louis Dallas Detroit Houston

$287.67 $267.77 $253.11 $212.04 $211.84 $203.50 $201.40 $200.50 $177.75 $169.06 $168.10 $166.51 $163.34 $162.58 $157.56 $150.17 $145.70 $140.85 $126.64 $123.24 $118.86 $118.58 $115.92 $113.10 $103.98

$210.92 $225.24 $221.96 $153.86 $156.66 $164.99 $168.60 $161.64 $131.03 $136.45 $123.00 $139.78 $120.50 $128.59 $120.87 $121.35 $120.51 $116.72 $118.09 $100.55 $100.75 $101.35 $95.84 $96.74 $91.13

36.4% 18.9% 14.0% 37.8% 35.2% 23.3% 19.5% 24.0% 35.7% 23.9% 36.7% 19.1% 35.6% 26.4% 30.4% 23.8% 20.9% 20.7% 7.2% 22.6% 18.0% 17.0% 20.9% 16.9% 14.1%

Source: STR

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TOP 25 HOTEL MARKETS OCCUPANCY % Change

2022 Rank

City

Jan - Dec 2022

Jan - Dec 2021

22 vs 21

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

Oahu Island New York Orlando San Diego Miami-Dade Tampa Anaheim Los Angeles Phoenix Nashville Denver Boston Seattle Dallas Atlanta San Francisco Norfolk Washington, DC New Orleans Chicago Philadelphia Detroit St. Louis Houston Minneapolis

75.4% 74.8% 72.8% 72.6% 72.1% 71.6% 71.3% 71.0% 68.7% 68.6% 68.1% 67.2% 66.5% 65.3% 64.9% 64.0% 62.9% 61.7% 61.4% 61.2% 60.0% 58.5% 58.3% 57.6% 55.5%

55.6% 59.3% 57.7% 61.7% 66.8% 68.4% 58.0% 63.8% 62.9% 59.2% 59.0% 51.1% 52.4% 58.3% 59.9% 47.3% 61.6% 48.0% 52.2% 50.0% 55.0% 54.8% 51.7% 54.7% 44.5%

35.7% 26.1% 26.2% 17.7% 8.0% 4.8% 22.9% 11.3% 9.2% 15.8% 15.4% 31.7% 27.0% 11.9% 8.4% 35.2% 2.0% 28.6% 17.7% 22.5% 9.1% 6.7% 12.6% 5.3% 24.7%

Source: STR

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2022 RANK 1 2 3 4 5 6 7 8 9 10 11 12

2022 RANK 1 2 3 4 5 6 7 8 9 10 11 12

2022 RANK 1 2 3 4 5 6 7 8 9 10 11 12

FLORIDA CITIES HOTEL MARKETS REVENUE PER AVAILABLE ROOM

AREA Florida Keys Miami, FL Palm Beach, FL Fort Myers, FL Fort Lauderdale, FL Tampa, FL Florida Central Orlando, FL Jacksonville, FL Daytona Beach, FL Florida Panhandle Melbourne, FL

2022 $323.37 $182.55 $171.99 $146.95 $128.22 $119.27 $111.18 $109.37 $98.30 $96.55 $96.15 $93.83

2021 $307.56 $148.28 $130.01 $114.98 $103.50 $95.56 $91.81 $70.04 $84.86 $86.93 $100.21 $68.70

FLORIDA CITIES HOTEL MARKETS ROOM RATE

AREA Florida Keys Miami, FL Palm Beach, FL Fort Myers, FL Fort Lauderdale, FL Tampa, FL Florida Central Daytona Beach, FL Florida Panhandle Orlando, FL Jacksonville, FL Melbourne, FL

2022 $423.28 $253.11 $248.14 $204.15 $179.45 $166.51 $163.45 $155.97 $154.79 $150.17 $139.02 $136.34

2021 $389.28 $221.96 $202.18 $168.66 $149.66 $139.78 $141.13 $139.86 $155.99 $121.35 $123.18 $113.53

FLORIDA CITIES HOTEL MARKETS OCCUPANCY

AREA Florida Keys Orlando, FL Miami, FL Fort Myers, FL Tampa, FL Fort Lauderdale, FL Jacksonville, FL Palm Beach, FL Melbourne, FL Florida Central Florida Panhandle Daytona Beach, FL

2022 76.4% 72.8% 72.1% 72.0% 71.6% 71.5% 70.7% 69.3% 68.8% 68.0% 62.1% 61.9%

2021 79.0% 57.7% 66.8% 68.2% 68.4% 69.2% 68.9% 64.3% 60.5% 65.1% 64.2% 62.2%

% Change 2022 vs 2021 5.1% 23.1% 32.3% 27.8% 23.9% 24.8% 21.1% 56.1% 15.8% 11.1% -4.0% 36.6%

% Change 2022 vs 2021 8.7% 14.0% 22.7% 21.0% 19.9% 19.1% 15.8% 23.8% 12.9% 11.5% -0.8% 20.1%

% Change 2022 vs 2021 -3.3% 26.2% 8.0% 5.6% 4.8% 3.3% 2.6% 7.8% 13.7% 4.6% -3.3% -0.4%

Source: STR

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Tourist-Related Taxes Collected in Miami-Dade County

by: Miami-Dade County, Miami Beach, Bal Harbour and Surfside Visitor Industry Overview 2022

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GREATER MIAMI CONVENTION & VISITORS BUREAU Analysis of Miami-Dade Tourist Taxes Fiscal Year 2021/22 Amount Tax Name Where Tax is Collected Who Collects Collected

Tax Rate 3%

2%

1%

2%

Convention Development Tax*

All of Miami-Dade except Bal Harbour and Surfside

Tourist Development Tax*

All of Miami-Dade except Bal Harbour, Miami Beach and Surfside

All of Miami-Dade except Bal Harbour, Professional Sports Tax* Miami Beach and Surfside All of Miami-Dade Hotel Food & Beverage Tax: This except Bal Harbour, tax is collected on all food and Miami Beach and beverages sold in hotels.

Surfside

1%

Non-Hotel Food & Beverage Tax: This tax is collected on food and All of Miami-Dade beverages sold in restaurants not except Bal Harbour, in hotels, with full liquor license Miami Beach and and gross sales of over $400,000 Surfside annually. (The Homeless Tax)

4%

Resort Tax

2%

Food & Beverage Tax: This tax is collected on food and beverages sold in restaurants in and out of hotels. This includes fast food establishments.

4% Room Tax

2% F&B Tax

4% Room Tax

2% F&B Tax

GMCVB Allocation

GMCVB %

$126,564,600

$0

0%

Miami-Dade County

$44,985,676

$24,227,376

54%

Miami-Dade County

$22,492,836

$0

0%

Miami-Dade County

$9,677,330

$9,034,499

94%

Miami-Dade County

$41,329,482

$0

0%

$7,486,108

10%

Miami-Dade County

$76,858,840 Miami Beach

City of Miami Beach

Bal Harbour reports its Room Tax and F&B Tax combined. Its Food & Beverage Tax is collected on food and beverages sold in restaurants in and out of hotels.

This includes fast food establishments.

Bal Harbour

Village of Bal Harbour

$5,970,375

$0

0%

Surfside reports its Room Tax and F&B Tax combined. Its Food & Beverage Tax is collected on food and beverages sold in restaurants in and out of hotels.

This includes fast food establishments.

Surfside

Town of Surfside

$5,525,851

$0

0%

$372,970,298

$40,747,983

TOTAL TOURIST-RELATED TAXES COLLECTED .5% Sales tax on all goods and Miami-Dade .5% services sold in Miami-Dade All of Miami-Dade Transit Tax** County which the state sales tax County is collected on. .5% Sales tax on all goods and Miami-Dade .5% services sold in Miami-Dade All of Miami-Dade JMH Tax** County which the state sales tax County is collected on.

6% Sales tax on all goods and 6% FL State Sales services sold in Miami-Dade All of Miami-Dade Tax County which the state sales tax County is collected on.

TOTAL SALES TAXES COLLECTED TOTAL SALES AND TOURIST-RELATED TAXES COLLECTED GMCVB % OF TOTAL TOURIST TAX COLLECTIONS

$39,565,308

Miami-Dade County

$103,960,000

Miami-Dade County

$103,960,000

Miami-Dade County

$1,247,520,000 $1,455,440,000 $1,828,410,298 11%

Leisure and Hospitality Employment

Visitor Industry Overview 2022

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MIAMI-DADE COUNTY JOBS 2021*

2022

Total Employment (Non-Agricultural)

% Change year over year

1,287,500

1,292,900

0.4%

Leisure and Hospitality Employment

135,000

146,800

8.7%

Leisure and Hospitality Employment as % of Total Employment

10.5%

11.4%

8.6%

Leisure and Hospitality Employment Miami-Dade County 2022 Leisure / Hospitality Employment, 11.4%

Non - Leisure / Hospitality Employment, 88.6%

*reflects annual revision by Florida Department of Economic Opportunity MiamiandMiamiBeach.com

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MIAMI-DADE COUNTY LEISURE AND HOSPITALITY EMPLOYMENT TRENDS 2013 JANUARY 123.0 FEBRUARY 124.9 MARCH 127.0 APRIL 127.0 MAY 126.5 JUNE 125.5 JULY 123.5 AUGUST 124.1 SEPTEMBER 124.0 OCTOBER 125.3 NOVEMBER 127.3 DECEMBER 128.7

2014 126.9 128.5 131.0 130.4 129.8 129.4 127.3 127.6 128.7 130.1 132.5 133.6

125.6

129.7

YTD Total

2015 132.1 133.5 135.5 135.3 134.3 133.5 132.6 133.5 132.9 133.5 135.0 135.2

2016 138.9 141.4 143.5 143.0 141.7 139.6 138.5 138.3 139.7 141.2 144.1 144.5

133.9

141.2

2017 139.5 141.5 143.3 143.6 143.4 143.4 140.7 141.4 133.3 137.7 140.0 140.8

2018 140.6 144.1 145.6 144.2 143.9 141.2 141.5 143.4 142.5 143.4 145.2 145.9

140.7

143.5

143.7 145.4 147.3 148.3

146.9 150.1 144.4 70.5 78.8 96.9 92.2 87.7 93.6 97.9 102.5 104.7

2021 109.0 112.3 114.8 117.3 119.8 122.3 126.3 127.1 127.3 131.0 134.6 135.0

2022 133.8 138.3 139.8 138.2 138.9 141.1 141.1 143.3 144.1 146.2 145.1 146.8

145.8

115.9

123.1

141.4

2019

2020

143.7 145.8 148.1 147.2 146.5 144.1 143.6 145.6

% CHANGE

22 vs 21 22.8% 23.2% 21.8% 17.8% 15.9% 15.4% 11.7% 12.7% 13.2% 11.6% 7.8% 8.7% 14.9%

Source: Florida Agency for Workforce Innovation

MIAMI-DADE LEISURE AND HOSPITALITY EMPLOYMENT 165.0 145.0 125.0 105.0 85.0 65.0

JANUARY

FEBRUARY

MARCH

APRIL

MAY

JUNE

2022

JULY

AUGUST

SEPTEMBER

OCTOBER

NOVEMBER DECEMBER

2021

Note: Reported figures are in thousands Visitor Industry Overview 2022

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2022 Dashboard of Key Visitor Industry Indicators

Prepared by: GMCVB’s Research Division MiamiandMiamiBeach.com

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MONTHLY DASHBOARD OF KEY VISITOR INDUSTRY INDICATORS MIAMI AIRPORT INTERNATIONAL ARRIVALS

1,200,000 1,000,000 800,000 600,000 400,000 200,000 0

Jan-22 Source: Miami - Dade Aviation

Jan-22

Feb-22

Feb-22

Mar-22

Mar-22

Apr-22

Apr-22

May-22

May-22

Jun-22

Jun-22

Jul-22

Aug-22

Jul-22

Sep-22

Aug-22

Oct-22

Sep-22

Nov-22

Oct-22

Nov-22 2022

Dec-22

Rolling 12 Months

Dec-22 2021

Fiscal Year 2022/2023

Calendar YTD

2022

812,276

696,526

876,841

897,555

872,066

878,739

1,025,408

985,936

813,841

877,174

917,130

967,590

10,621,082

2,761,894

10,621,082

2021

374,345

221,202

345,724

426,082

533,891

620,441

702,959

662,726

499,069

575,435

684,439

824,290

6,470,603

2,084,164

6,470,603

% change

117.0%

214.9%

153.6%

110.7%

63.3%

41.6%

45.9%

48.8%

63.1%

52.4%

34.0%

17.4%

64.1%

32.5%

64.1%

MIAMI AIRPORT DOMESTIC ARRIVALS

1,650,000 1,500,000 1,350,000 1,200,000 1,050,000 900,000 750,000 600,000 450,000 300,000 150,000 0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Source: Miami International Airport

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

Nov-22

Dec-22

2022

2021

Rolling 12 Months

Fiscal Year 2022/2023

Calendar YTD

2022

1,148,982

1,232,356

1,445,457

1,284,800

1,319,940

1,166,513

1,249,729

1,131,875

1,035,985

1,187,239

1,167,424

1,277,877

14,648,177

3,632,540

14,648,177

2021

564,038

605,779

904,974

975,340

1,125,036

1,104,193

1,191,398

1,025,149

862,047

1,076,228

1,283,080

1,477,063

12,194,325

3,836,371

12,194,325

% change

103.7%

103.4%

59.7%

31.7%

17.3%

5.6%

4.9%

10.4%

20.2%

10.3%

-9.0%

-13.5%

20.1%

-5.3%

20.1%

MIAMI AIRPORT TOTAL ARRIVALS 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Source: Miami International Airport Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

Nov-22

Dec-22

2022

2021

Rolling 12 Months

Fiscal Year 2022/2023

Calendar YTD

2022

1,961,258

1,928,882

2,322,298

2,182,355

2,192,006

2,045,252

2,275,137

2,117,811

1,849,826

2,064,413

2,084,554

2,245,467

25,269,259

6,394,434

25,269,259

2021

983,383

826,981

1,250,698

1,401,422

1,658,927

1,724,634

1,894,357

1,687,875

1,361,116

1,651,663

1,967,519

2,301,353

18,709,928

5,920,535

18,709,928

% change

99.4%

133.2%

85.7%

55.7%

32.1%

18.6%

20.1%

25.5%

35.9%

25.0%

5.9%

-2.4%

35.1%

8.0%

35.1%

FORT LAUDERDALE AIRPORT INTERNATIONAL ARRIVALS 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Source: Broward Aviation

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

Nov-22

Dec-22

2022

2021

Rolling 12 Months

Fiscal Year 2022/2023

Calendar YTD

2022

222,910

202,359

272,389

268,257

256,745

270,738

335,822

354,023

252,353

261,179

303,208

332,407

3,332,390

896,794

3,332,390

2021

161,911

81,728

122,171

137,569

192,269

208,636

230,465

222,410

184,270

207,676

205,205

228,499

2,182,809

641,380

2,182,809

% change

37.7%

147.6%

123.0%

95.0%

33.5%

29.8%

45.7%

59.2%

36.9%

25.8%

47.8%

45.5%

52.7%

39.8%

52.7%

FORT LAUDERDALE AIRPORT DOMESTIC ARRIVALS 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Source: Broward Aviation

Nov-22

Dec-22

2022

2021

Fiscal Year 2022/2023

2022

882,386

1,009,989

1,260,867

1,135,291

1,128,979

1,008,610

1,054,762

963,482

818,658

994,823

1,071,746

1,211,769

Rolling 12 Months 12,541,362

3,278,338

Calendar YTD 12,541,362

2021

662,252

710,954

1,064,857

1,012,996

1,142,034

1,156,250

1,222,604

973,394

859,775

994,373

1,014,390

1,109,438

11,923,317

3,118,201

11,923,317

% change

33.2%

42.1%

18.4%

12.1%

-1.1%

-12.8%

-13.7%

-1.0%

-4.8%

0.0%

5.7%

9.2%

5.2%

5.1%

5.2%

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

FORT LAUDERDALE AIRPORT TOTAL ARRIVALS 1,800,000 1,600,000 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Source: Broward Aviation

2022 2021 % change

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

1,105,296 824,163 34.1%

1,212,348 792,682 52.9%

1,533,256 1,187,028 29.2%

1,403,548 1,150,565 22.0%

1,385,724 1,334,303 3.9%

1,279,348 1,364,886 -6.3%

1,390,584 1,453,069 -4.3%

1,317,505 1,195,804 10.2%

1,071,011 1,044,045 2.6%

1,256,002 1,202,049 4.5%

1,374,954 1,219,595 12.7%

1,554,176 1,337,937 16.2%

Nov-22

Dec-22

2022

2021

Rolling 12 Months 15,883,752 14,106,126 12.6%

Fiscal Year 2022/2023 4,185,132 3,759,581 11.3%

Calendar YTD 15,883,752 14,106,126 12.6%

GMCVB.com

Visitor Industry Overview 2022

GREATER MIAMI OCCUPANCY 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

2022

2021

Source: STR

2022

70.9%

Rolling 12 Months 72.1%

Fiscal Year 2022/2023 70.8%

Calendar YTD 72.1%

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

68.3%

81.5%

82.7%

80.7%

72.0%

67.3%

70.7%

67.2%

63.7%

69.2%

72.4%

2021

53.7%

65.9%

73.2%

71.8%

74.2%

72.4%

71.3%

58.6%

54.2%

61.5%

70.1%

74.4%

66.8%

68.7%

66.8%

% change

27.2%

23.6%

13.0%

12.4%

-2.9%

-7.0%

-0.8%

14.6%

17.7%

12.5%

3.3%

-4.8%

8.0%

3.1%

8.0%

GREATER MIAMI ROOM RATE $350 $300 $250 $200 $150 $100 $50 $0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Source: STR

Nov-22

Dec-22

2022

2021

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

2022

$274.13

$321.93

$327.45

$306.23

$269.40

$201.11

$204.30

$183.81

$175.81

$207.94

$240.18

$289.74

Rolling 12 Months $253.11

Fiscal Year 2022/2023 $245.95

Calendar YTD $253.11

2021

$191.34

$209.82

$242.18

$230.71

$233.49

$222.64

$221.98

$179.66

$169.83

$183.33

$223.67

$312.74

$221.96

$239.91

$221.96

% change

43.3%

53.4%

35.2%

32.7%

15.4%

-9.7%

-8.0%

2.3%

3.5%

13.4%

7.4%

-7.4%

14.0%

2.5%

14.0%

GREATER MIAMI REV PAR $320.00 $280.00 $240.00 $200.00 $160.00 $120.00 $80.00 $40.00 $0.00

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Source: STR

2022 2021 % change

Nov-22 2022

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

$187.21 $102.77 82.2%

$262.39 $138.37 89.6%

$270.73 $177.20 52.8%

$247.18 $165.74 49.1%

$194.10 $173.19 12.1%

$135.38 $161.16 -16.0%

$144.38 $158.21 -8.7%

$123.55 $105.35 17.3%

$112.06 $92.00 21.8%

$143.98 $112.83 27.6%

$173.89 $156.75 10.9%

$205.29 $232.70 -11.8%

Rolling 12 Months $182.55 $148.28 23.1%

Dec-22 2021

Fiscal Year 2022/2023 $174.39 $167.43 4.2%

Calendar YTD $182.55 $148.28 23.1%

GREATER MIAMI LODGING ROOM INVENTORY 75,000 70,000 65,000 60,000 55,000 50,000 45,000 40,000 35,000 30,000 25,000 20,000

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

2022

Source: STR

2022 2021 % change

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

63,818 60,143 6.1%

63,811 60,434 5.6%

63,900 61,040 4.7%

63,895 61,388 4.1%

64,025 61,895 3.4%

64,599 62,350 3.6%

64,864 62,569 3.7%

65,041 62,445 4.2%

65,167 62,535 4.2%

65,097 62,996 3.3%

66,385 63,323 4.8%

66,366 63,412 4.7%

Dec-22

2021

Rolling 12 Months 64,747 62,044 4.4%

Fiscal Year 2022/2023 64,347 61,644 4.4%

Calendar YTD 65,949 63,244 4.3%

GREATER MIAMI HOTEL ROOMS SOLD 2,000,000 1,800,000 1,600,000 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Source: STR

2022 2021 % change

Nov-22

Dec-22

2022

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

1,356,453 1,005,330 34.9%

1,462,109 1,120,386 30.5%

1,644,315 1,389,928 18.3%

1,553,472 1,328,203 17.0%

1,436,863 1,428,679 0.6%

1,310,810 1,359,207 -3.6%

1,427,898 1,387,715 2.9%

1,361,827 1,139,450 19.5%

1,249,682 1,019,192 22.6%

1,401,556 1,205,306 16.3%

1,441,879 1,331,373 8.3%

1,457,738 1,462,660 -0.3%

Rolling 12 Months 17,104,602 15,177,429 12.7%

2021

Fiscal Year 2022/2023 4,301,173 3,999,339 7.5%

Calendar YTD 17,104,602 15,177,429 12.7%

GREATER MIAMI'S HOTEL ROOMS SOLD SHARE OF TOP 25 MARKETS

6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0%

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

2022

2022 2021 % change

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

5.0% 5.2% -4.2%

4.9% 5.5% -11.6%

4.3% 5.1% -15.7%

4.1% 4.7% -14.1%

3.7% 4.7% -21.3%

3.3% 4.1% -20.5%

3.6% 3.8% -5.8%

3.6% 3.4% 3.5%

3.3% 3.2% 2.0%

3.5% 3.5% -1.0%

4.1% 4.2% -2.4%

4.3% 4.6% -6.5%

Rolling 12 Months 4.0% 4.3% -8.9%

Fiscal Year 2022/2023 4.0% 4.1% -3.5%

2021 Calendar YTD 4.0% 4.3% -8.9%

Visitor Industry Overview 2022

MiamiandMiamiBeach.com

GREATER MIAMI AIR BnB OCCUPANCY 70% 60% 50% 40% 30% 20% 10% 0%

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Source: Transparent

2022 2021 % change

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

58.3% 48.7% 19.8%

64.6% 53.1% 21.8%

64.5% 56.4% 14.5%

59.2% 55.0% 7.7%

53.4% 55.8% -4.3%

48.7% 55.9% -13.0%

53.0% 55.9% -5.2%

47.3% 47.8% -0.9%

44.1% 43.3% 1.8%

47.5% 46.9% 1.3%

48.3% 50.9% -5.0%

51.3% 56.8% -9.7%

Rolling 12 Months 53.4% 52.2% 2.2%

Dec-22 2022

2021

Fiscal Year 2022/2023 49.0% 51.5% -4.8%

Calendar YTD 53.4% 52.2% 2.2%

GREATER MIAMI AIRBnB ROOM RATE $225 $200 $175 $150 $125 $100 $75 $50 $25 $0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Source: Transparent

Nov-22

Dec-22

2022

2021

Fiscal Year 2022/2023

2022

$194.01

$201.94

$212.58

$204.19

$191.63

$179.42

$188.65

$172.16

$163.91

$170.14

$177.07

$198.92

Rolling 12 Months $187.88

$182.04

Calendar YTD $181.00

2021

$168.37

$174.19

$180.63

$174.29

$175.37

$174.40

$184.08

$169.51

$158.75

$163.68

$170.54

$195.52

$174.11

$176.58

$174.11

% change

15.2%

15.9%

17.7%

17.2%

9.3%

2.9%

2.5%

1.6%

3.2%

3.9%

3.8%

1.7%

7.9%

3.1%

4.0%

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

GREATER MIAMI AIRBnB RevPAR $140 $120 $100 $80 $60 $40 $20 $0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Source: Transparent

2022 2021 % change

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

$113.18 $82.01 38.0%

$130.51 $92.45 41.2%

$137.20 $101.81 34.8%

$120.95 $95.84 26.2%

$102.37 $97.93 4.5%

$87.31 $97.52 -10.5%

$99.95 $102.87 -2.8%

$81.50 $80.98 0.6%

$72.22 $68.70 5.1%

$80.76 $76.70 5.3%

$85.54 $86.74 -1.4%

$102.03 $111.03 -8.1%

Nov-22

Dec-22

2022

2021

Rolling 12 Months $101.13 $91.21 10.9%

Fiscal Year 2022/2023 $89.44 $91.49 -2.2%

Calendar YTD $101.13 $91.21 10.9%

GREATER MIAMI AIRBnB TOTAL SUPPLY 30,000 25,000 20,000 15,000 10,000 5,000 0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Source: Transparent

2022 2021 % change

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

19,539 18,041 8.3%

19,009 17,804 6.8%

19,366 17,588 10.1%

19,952 17,569 13.6%

20,611 17,610 17.0%

22,012 17,597 25.1%

24,215 17,676 37.0%

21,981 17,867 23.0%

21,471 18,413 16.6%

21,675 18,842 15.0%

21,848 19,119 14.3%

22,941 19,512 17.6%

Nov-22

Dec-22

2022

2021

Rolling 12 Months 21,218 18,137 17.0%

Fiscal Year 2022/2023 66,464 57,473 15.6%

Calendar YTD 66,464 57,473 15.6%

GREATER MIAMI AIRBnB SUPPLY CAPACITY 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Source: Transparent

2022 2021 % change

Nov-22 2022

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

88,182 79,206 11.3%

86,897 78,574 10.6%

88,534 77,820 13.8%

89,592 77,816 15.1%

91,941 77,707 18.3%

98,668 77,560 27.2%

115,670 77,889 48.5%

101,078 78,907 28.1%

99,051 81,158 22.0%

100,352 83,523 20.1%

102,347 85,692 19.4%

108,315 87,861 23.3%

Rolling 12 Months 97,552 80,309 21.5%

Dec-22 2021

Fiscal Year 2022/2023 311,014 257,076 21.0%

Calendar YTD 311,014 257,076 21.0%

GREATER MIAMI AIRBnB UNITS SOLD 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Source: Transparent

2022 2021 % change

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

11,399 8,787 29.7%

12,285 9,449 30.0%

12,499 9,914 26.1%

11,818 9,661 22.3%

11,011 9,834 12.0%

10,711 9,840 8.9%

12,829 9,878 29.9%

10,406 8,535 21.9%

9,461 7,968 18.7%

10,288 8,829 16.5%

10,554 9,725 8.5%

11,767 11,080 6.2%

Nov-22

Dec-22

2022

2021

Rolling 12 Months 135,029 113,499 19.0%

Fiscal Year 2022/2023 32,609 29,634 10.0%

Calendar YTD 135,029 113,499 19.0%

GMCVB.com

Visitor Industry Overview 2022

GREATER MIAMI INTERNATIONAL OVERNIGHT VISITORS 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 Jan-22 Source: Integrated Insight

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

2022

2021

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

2022 2021

367,400 185,000

318,600 198,100

406,700 246,300

418,300 270,700

405,200 307,100

412,200 307,500

440,100 375,400

432,600 325,800

345,000 301,500

372,800 359,000

399,200 408,200

424,900 462,400

Rolling 12 Months 4,743,000 3,747,000

Fiscal Year 2022/2023 1,196,900 1,229,600

Calendar YTD 4,743,000 3,747,000

% change

98.6%

60.8%

65.1%

54.5%

31.9%

34.0%

17.2%

32.8%

14.4%

3.8%

-2.2%

-8.1%

26.6%

-2.7%

26.6%

Sep-22

Oct-22

GREATER MIAMI DOMESTIC OVERNIGHT VISITORS 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Source: Integrated Insight

2022 2021 % change

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

847,300 520,200 62.9%

932,300 557,200 67.3%

1,121,700 692,700 61.9%

966,300 679,700 42.2%

979,900 771,000 27.1%

869,800 771,900 12.7%

817,900 775,400 5.5%

743,700 673,100 10.5%

657,900 622,800 5.6%

768,100 775,400 -0.9%

788,000 880,900 -10.5%

876,100 998,700 -12.3%

Nov-22

Dec-22

2022

2021

Rolling 12 Months 10,369,000 8,719,000 18.9%

Fiscal Year 2022/2023 2,432,200 2,655,000 -8.4%

Calendar YTD 10,369,000 8,719,000 18.9%

GREATER MIAMI FLORIDA RESIDENT OVERNIGHT VISITORS

600,000

-

500,000

-

400,000

-

300,000

-

200,000

-

-

-

100,000 0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

-

-2022

Source: Integrated Insight

2022

183,800

188,800

228,500

200,300

168,300

319,200

486,400

437,300

422,900

473,900

473,800

473,800

Rolling 12 Months 4,057,000

2021 % change

246,400 -25.4%

228,000 -17.2%

229,600 -0.5%

271,600 -26.3%

253,200 -33.5%

271,400 17.6%

353,300 37.7%

297,400 47.0%

262,000 61.4%

343,900 37.8%

365,300 29.7%

327,900 44.5%

3,450,000 17.6%

Jan-22

Dec-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

2021

Fiscal Year 2022/2023 1,421,500

Calendar YTD 4,057,000

1,037,100 37.1%

3,450,000 17.6%

GREATER MIAMI TOTAL OVERNIGHT VISITORS 2,000,000 1,800,000 1,600,000 1,400,000 1,200,000

-

1,000,000 800,000 600,000 400,000

-

200,000 0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22 -

Dec-22

-2021

Source: Integrated Insight

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

2022

1,398,500

1,439,700

1,756,900

1,584,900

1,553,400

1,601,200

1,744,400

1,613,600

1,425,800

1,614,800

1,661,000

2021 % change

951,600 47.0%

983,300 46.4%

1,168,600 50.3%

1,222,000 29.7%

1,331,300 16.7%

1,350,800 18.5%

1,504,100 16.0%

1,296,300 24.5%

1,186,300 20.2%

1,478,300 9.2%

1,654,400 0.4%

2022

1,774,800

Rolling 12 Months 19,169,000

Fiscal Year 2022/2023 5,050,600

Calendar YTD 19,169,000

1,789,000 -0.8%

15,916,000 20.4%

4,921,700 2.6%

15,916,000 20.4%

Dec-22

GREATER MIAMI TOTAL DAY VISITORS 900,000 800,000 700,000 600,000

-

500,000

-

400,000

-

300,000

-

200,000

-

100,000

-

0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

-

Dec-22

- 2021

Source: Integrated Insight

2022 2021 % change

-

Nov-22

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

452,100 395,400 14.3%

554,700 426,000 30.2%

549,900 484,900 13.4%

464,900 752,700 -38.2%

459,300 835,600 -45.0%

464,100 818,100 -43.3%

686,900 798,900 -14.0%

783,400 684,000 14.5%

570,000 665,000 -14.3%

758,400 762,100 -0.5%

784,400 825,600 -5.0%

803,900 855,700 -6.1%

Rolling 12 Months 7,332,000 8,304,000 -11.7%

2022

Fiscal Year 2022/2023 2,346,700 2,443,400 -4.0%

Calendar YTD 7,332,000 8,304,000 -11.7%

GREATER MIAMI TOTAL VISITORS (OVERNIGHT AND DAY) 3,000,000 2,500,000 2,000,000

-

1,500,000

-

1,000,000

-

500,000

0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

-

Dec-22

- 2021

Source: Integrated Insight

2022 2021 % change

-

Nov-22

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

1,850,600 1,347,000 37.4%

1,994,400 1,409,300 41.5%

2,306,800 1,653,500 39.5%

2,049,800 1,974,700 3.8%

2,012,700 2,166,900 -7.1%

2,065,300 2,168,900 -4.8%

2,431,300 2,303,000 5.6%

2,397,000 1,980,300 21.0%

1,995,800 1,851,300 7.8%

2,373,200 2,240,400 5.9%

2,445,400 2,480,000 -1.4%

2,578,700 2,644,700 -2.5%

Rolling 12 Months 26,501,000 24,220,000 9.4%

2022

Fiscal Year 2022/2023 7,397,300 7,365,100 0.4%

Calendar YTD 26,501,000 24,220,000 9.4%

GMCVB.com

Visitor Industry Overview 2022

MIAMI-DADE COUNTY CONVENTION DEVELOPMENT TAX (000) Activity Month

CDT Tax is a 3% tax on hotel room rate collected in all hotels exclusive of Bal Harbour and Surfside. This revenue is for building and maintain public facilities $17,500.0 $15,000.0 $12,500.0 $10,000.0 $7,500.0 $5,000.0 $2,500.0 $0.0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Source: Miami-Dade Tourist Tax Collectors

2022 2021 % change

Nov-22

Dec-22

2022

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

$11,565.3 $5,961.0 94.0%

$14,015.7 $7,566.6 85.2%

$15,067.4 $10,419.2 44.6%

$14,263.9 $9,390.9 51.9%

$11,582.3 $10,188.4 13.7%

$8,326.6 $9,446.6 -11.9%

$9,044.4 $9,308.5 -2.8%

$7,829.8 $6,448.4 21.4%

$7,115.9 $6,448.4 10.4%

$8,969.2 $5,564.7 61.2%

$10,142.2 $7,121.2 42.4%

$12,268.9 $9,188.2 33.5%

Rolling 12 Months $130,191.6 $97,052.1 34.1%

2021

Fiscal Year 2022/2023 $31,380.3 $21,874.1 43.5%

Calendar YTD $130,191.6 $97,052.1 34.1%

MIAMI-DADE TOURIST DEVELOPMENT TAX (000) Activity Month Miami-Dade Resort tax is a 2% tax on hotel room rate, excluding Bal Harbour, Miami Beach and Surfside properties. This money funds the GMCVB and TDC $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Source: Miami-Dade Tourist Tax Collectors

2022 2021 % change

Nov-22 2022

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

$4,107.8 $2,050.9 100.3%

$4,855.1 $2,372.7 104.6%

$5,591.7 $3,300.1 69.4%

$4,730.6 $3,216.9 47.1%

$4,084.5 $3,525.0 15.9%

$3,107.9 $3,389.1 -8.3%

$3,280.4 $3,285.9 -0.2%

$2,948.0 $2,390.6 23.3%

$2,893.7 $2,130.9 35.8%

$3,546.9 $2,686.8 32.0%

$3,734.7 $3,262.2 14.5%

$4,422.2 $4,199.9 5.3%

Rolling 12 Months $47,303.5 $35,811.0 32.1%

Dec-22 2021

Fiscal Year 2022/2023 $11,703.8 $10,148.9 15.3%

Calendar YTD $47,303.5 $35,811.0 32.1%

MIAMI-DADE 2% HOTEL FOOD & BEVERAGE TAX (000) Activity Month

Miami-Dade 2% F& B Tax is charged on food and beverages purchased in hotels excluding Bal Harbour, Miami Beach and Surfside. $1,100 $1,000 $900 $800 $700 $600 $500 $400 $300 $200 $100 $0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Dec-22

2022

Source: Miami-Dade Tourist Tax Collectors

2022 2021 % change

Nov-22

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

$785.0 $398.7 96.9%

$920.0 $419.4 119.4%

$1,065.1 $518.2 105.5%

$963.1 $565.2 70.4%

$950.7 $720.7 31.9%

$732.0 $680.3 7.6%

$766.0 $601.4 27.4%

$679.4 $483.2 40.6%

$740.2 $500.0 48.0%

$940.1 $675.4 39.2%

$931.5 $730.1 27.6%

$1,083.0 $910.5 18.9%

Rolling 12 Months $10,556.1 $7,203.1 46.5%

2021

Fiscal Year 2022/2023 $2,954.6 $2,316.0 27.6%

Calendar YTD $10,556.1 $7,203.1 46.5%

MIAMI-DADE 1% RESTAURANT FOOD AND BEVERAGE TAX (000) Activity Month Miami-Dade 1% F& B Tax is charged on food and beverages purchased in restaurants not in hotels excluding Bal Harbour, Miami Beach and Surfside. $4,500.0 $4,000.0 $3,500.0 $3,000.0 $2,500.0 $2,000.0 $1,500.0 $1,000.0 $500.0 $0.0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Dec-22

2022

Source: Miami-Dade Tourist Tax Collectors

2022 2021 % change

Nov-22

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

$3,338.8 $2,682.9 24.4%

$3,377.9 $2,412.9 40.0%

$3,822.8 $2,728.0 40.1%

$3,817.5 $2,993.1 27.5%

$3,834.6 $3,211.9 19.4%

$3,322.2 $3,062.4 8.5%

$3,720.4 $3,162.2 17.7%

$3,317.8 $2,963.6 12.0%

$3,289.0 $2,882.4 14.1%

$3,445.9 $3,123.0 10.3%

$3,356.8 $3,099.6 8.3%

$4,004.4 $3,672.4 9.0%

Rolling 12 Months $42,648.1 $35,994.4 18.5%

2021

Fiscal Year 2022/2023 $10,807.1 $9,895.0 9.2%

Calendar YTD $42,648.1 $35,994.4 18.5%

MIAMI-DADE 1% PROFESSIONAL SPORTS TAX (000) Activity Month Miami-Dade Sports Tax is 1% tax on the hotel room rate exclusive of Miami Beach, Surfside and Bal Harbour. This money is used to build and maintain professional sports facilities $3,000 $2,500 $2,000 $1,500 $1,000 $500 $0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

2022 2021 % change

Nov-22 2022

Source : Miami-Dade Tourist Tax Collectors

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

$2,053.9 $1,025.5 100.3%

$2,427.5 $1,186.4 104.6%

$2,795.8 $1,650.1 69.4%

$2,365.3 $1,608.5 47.1%

$2,042.2 $1,762.5 15.9%

$1,554.0 $1,694.5 -8.3%

$1,640.2 $1,643.0 -0.2%

$1,474.0 $1,195.3 23.3%

$1,446.8 $1,065.4 35.8%

$1,773.5 $1,343.4 32.0%

$1,867.4 $1,631.1 14.5%

$2,211.1 $2,100.0 5.3%

Dec-22 2021

Rolling 12 Months $23,651.7 $17,905.7 32.1%

Fiscal Year 2022/2023 $5,852.0 $5,074.5 15.3%

Calendar YTD $23,651.7 $17,905.7 32.1%

MIAMI BEACH RESORT TAX (000) Activity Month

Miami Beach Resort Tax includes 4% tax on hotel rooms and 2% tax on food and beverage sold in restaurants and hotels $15,000 $14,000 $13,000 $12,000 $11,000 $10,000 $9,000 $8,000 $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

2022

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

Rolling 12 Months

2021

Fiscal Year 2022/2023

Calendar YTD

2022

$10,151.0

$12,618.8

$13,557.5

$13,444.2

$11,366.6

$7,553.6

$8,562.6

$7,142.1

$6,087.3

$7,647.9

$9,003.5

$11,322.2

$118,457.3

$27,973.6

$118,457.3

2021

$5,840.6

$8,107.1

$9,702.4

$9,035.5

$9,941.2

$8,693.4

$8,572.8

$6,302.9

$5,203.2

$6,247.2

$8,225.0

$12,352.1

$98,223.4

$26,824.3

$98,223.4

% change

73.8%

55.7%

39.7%

48.8%

14.3%

-13.1%

-0.1%

13.3%

17.0%

22.4%

9.5%

-8.3%

20.6%

4.3%

20.6%

GMCVB.com

Visitor Industry Overview 2022

MIAMI-DADE LEISURE & HOSPITALITY EMPLOYMENT (000) 160.0 140.0 120.0 100.0 80.0 60.0 40.0 20.0 0.0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Source: Florida Dept. of Labor

2022 2021 % change

Nov-22 2022

Dec-22 2021

Fiscal Year 2022/2023 144.9 133.5 8.5%

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

133.8 109.0 22.8%

138.3 112.3 23.2%

139.8 114.8 21.8%

138.2 117.3 17.8%

138.9 119.8 15.9%

141.1 122.3 15.4%

141.1 126.3 11.7%

143.3 127.1 12.7%

144.1 127.3 13.2%

146.2 131.0 11.6%

145.1 134.6 7.8%

143.4 135.0 6.2%

Rolling 12 Months 141.1 123.1 14.7%

Calendar YTD 141.1 123.1 14.7%

Oct-22

Nov-22

Dec-22

2022

2021

PORT MIAMI PASSENGERS 850,000 800,000 750,000 700,000 650,000 600,000 550,000 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Source: Port of Miami

2022 2021 % change

Fiscal Year 2022/2023 1,831,753 801,253 128.6%

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

225,638 5 N/A

279,407 15 N/A

399,507 54 N/A

434,718 73 N/A

287,123 272 N/A

372,161 3,884 N/A

475,521 36,415 N/A

405,823 103,024 293.9%

343,699 108,342 217.2%

453,579 182,794 148.1%

603,604 259,094 133.0%

774,570 359,365 115.5%

Rolling 12 Months 5,055,350 1,053,337 379.9%

Calendar YTD 5,055,350 1,053,337 379.9%

Sep-22

Oct-22

Nov-22

Dec-22

2022

2021

PORT EVERGLADES PASSENGERS 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Source: Port Everglades

2022 2021 % change

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

163,644 0 N/A

171,557 707 N/A

266,299 2,788 N/A

228,235 5,657 N/A

88,710 5,300 N/A

96,356 10,416 N/A

135,831 27,901 N/A

89,064 38,792 N/A

70,111 25,063 N/A

116,191 46,382 N/A

361,789 139,591 N/A

473,012 222,128 N/A

Rolling 12 Months 2,260,799 524,725 330.9%

Fiscal Year 2022/2023 950,992 408,101 133.0%

Calendar YTD 2,260,799 524,725 330.9%

BRITISH POUND TO AMERICAN DOLLAR 1.50 1.45 1.40 1.35 1.30 1.25 1.20 1.15 1.10

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

2022

Source: Yahoo Finance

2021

1.21 1.35

Rolling 12 Months 1.24 1.37

Fiscal Year 2022/2023 1.19 1.35

Calendar YTD 1.24 1.37

-9.0%

-10.4%

-10.0%

-11.6%

-10.0%

Sep-22

Oct-22

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

2022 2021

1.34 1.36

1.34 1.39

1.31 1.37

1.26 1.38

1.26 1.42

1.21 1.39

1.22 1.39

1.18 1.38

1.12 1.34

1.16 1.37

1.21 1.33

% change

-1.5%

-3.6%

-4.4%

-8.7%

-11.3%

-12.9%

-12.2%

-14.5%

-16.4%

-15.3%

EURO TO AMERICAN DOLLAR 1.25 1.20 1.15 1.10 1.05 1.00 0.95

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Source: Yahoo Finance

2022 2021 % change

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

1.11 1.20 -7.5%

1.13 1.20 -5.8%

1.11 1.17 -5.1%

1.05 1.21 -13.2%

1.08 1.22 -11.5%

1.16 1.19 -2.5%

1.19 1.19 0.0%

1.16 1.18 -1.7%

1.14 1.16 -1.7%

1.16 1.16 0.0%

1.16 1.13 2.7%

1.13 1.14 -0.9%

Nov-22

Dec-22

2022

2021

Rolling 12 Months 1.13 1.18 -4.0%

Fiscal Year 2022/2023 1.15 1.14 0.6%

Calendar YTD 1.13 1.18 -4.0%

CANADIAN DOLLAR TO AMERICAN DOLLAR 1.00

0.90

0.80

0.70

0.60

0.50

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

2022

Source: Yahoo Finance

2022 2021 % change

Nov-22

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

0.78 0.78 0.0%

0.78 0.79 -1.3%

0.80 0.79 1.3%

0.78 0.81 -3.7%

0.79 0.83 -4.8%

0.78 0.81 -3.7%

0.78 0.80 -2.5%

0.76 0.79 -3.8%

0.73 0.78 -6.4%

0.73 0.81 -9.9%

0.74 0.79 -6.3%

0.74 0.78 -5.1%

Rolling 12 Months 0.77 0.80 -3.9%

Dec-22 2021

Fiscal Year 2022/2023 0.74 0.79 -7.1%

Calendar YTD 0.77 0.80 -3.9%

BRAZILIAN REAL TO AMERICAN DOLLAR 0.50

0.40

0.30

0.20

0.10

0.00

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Source: Yahoo Finance

Dec-22

2022

Jan-22

Feb-22

Mar-22

Apr-22

May-22

Jun-22

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

Dec-22

2022 2021

0.19 0.19

0.19 0.18

0.21 0.17

0.20 0.19

0.21 0.19

0.19 0.20

0.19 0.20

0.20 0.19

0.19 0.18

0.19 0.18

0.19 0.18

0.19 0.18

Rolling 12 Months 0.20 0.19

% change

2.7%

8.0%

23.5%

5.3%

10.5%

-5.0%

-5.0%

5.3%

5.6%

5.6%

5.6%

5.6%

5.4%

Prepared by: GMCVB - Research Dept.

2021

Fiscal Year 2022/2023 0.19 0.18

Calendar YTD 0.20 0.19

5.6%

5.4%

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