GREATER MIAMI & MIAMI BEACH 2023 VISITOR INDUSTRY OVERVIEW

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MiamiandMiamiBeach.com Visitor Industry Overview 2023 Overview and Executive Summary 3 Greater Miami & Miami Beach Visitor Volume 7 Overnight Visitation – Market Analysis 10 Domestic Overnight Visitor Profile 15 International Overnight Visitor Profile 25 Florida Resident Overnight Visitor Profile 34 Day Visitation – Market Analysis 44 Domestic Day-Trip Visitor Profile 45 International Day-Trip Visitor Profile 52 Florida Resident Day-Trip Visitor Profile 58 Economic Impact 66 Appendix 71 Overnight Visitor Segment Profiles 73 Hotel Industry Recap 80 Tourist-Related Taxes Collected in Miami-Dade County 86 Leisure and Hospitality Employment 88 2023 Dashboard of Key Visitor Industry Indicators 91 2

Overview and Executive Summary

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Overview

The Greater Miami Convention & Visitors Bureau (GMCVB) has the distinction of serving as Greater Miami & 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 & 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 2023 Visitor Profile for Greater Miami & Miami Beach In

Executive Summary

Riding on the coattails of 2022, in many ways, 2023 was another record year In 2023, a total of 27.2 million visitors (19.3 million overnight visitors and an additional 7.9 million day-trip visitors) traveled to the area With this growing influx of visitors came additional spending, which also exceeded the prior year. Tourists spent an estimated $21.1 billion, an increase of 2% over 2022. Furthermore, the total economic impact of tourism amounted to $29.7 billion, a 3% increase yearover-year

The momentum built during 2022 carried over into 2023, with continued demand at levels never seen before. Miami International Airport (MIA) added more flights, which contributed to the influx of travelers Additionally, the cruise industry exceeded pre-pandemic performance Furthermore, meeting and convention activity gained momentum, and bookings quickly filled the convention centers and hotels.

Domestic visitation still made up the bulk of visitation and was on par with the prior year, but the overall international recovery was strong The primary purpose of tourists' visits continued to be leisure-driven. However, similar to trends in 2022, 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 visitation increased by 3% from 2022 While overnight visitation increased by a modest 1%, day-trip visitation increased by 7% from the prior year. This was driven by a strong rebound in international visitation as well as more Floridians expressing interest in both day trips as well as overnight stays.

• Overall domestic overnight visitation decreased by 3%, slightly below the year prior. Comparing the top 20 domestic overnight markets, the top four domestic overnight visitor markets all increased year-over-year; New York led, followed by Atlanta, Chicago and Los Angeles

• Many of the other domestic overnight markets saw some declines, which was not unexpected as the year prior was the busiest year on record for domestic visitors to Greater Miami & Miami Beach

• Domestic day-trip visitation was robust, with a 9% increase from the year prior. This means that there were many more visitors who were staying outside of Miami-Dade County that decided to make a day trip to Miami while visiting the region.

• Virtually all top domestic day markets increased year-over-year The only two markets that did not grow were Boston and Washington, DC, but their declines were minimal.

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Executive Summary

• Florida resident visitation to Greater Miami & Miami Beach increased from 2022 by more than 400,000 visitors. With so many options across the state, Floridians still chose Greater Miami & Miami Beach in large numbers. Meetings and conventions, as well as special events have returned, and all contributed to growth from Florida markets – a 5% increase year-over-year.

• Visitation from other Florida areas continued to improve, and overnight visitation increased from several major markets Day trips grew slightly, but this was because of a rebound of travel by visitors who live in Naples/Fort Myers; that region was affected by a hurricane in the fall of 2022 and, therefore, visitation in 2022 declined but has since recovered. Other major Florida feeder markets saw some variability.

• While much of the overall tourism momentum was driven by domestic visitation, traditional international visitor markets also began to return While the overall volume of international visitors trails 2019 by about 10%, the order of top markets has returned to their former positions.

• However, international travel restrictions, extended visa wait times and economic challenges continued to hamper overseas travelers from visiting. Still, there was a strong comeback of international markets.

• Colombia was still #1 in overnight visitation, albeit with a slight decline. That said, they were still well above pre-pandemic levels, and this could be attributed to competition with other destinations. Next in line, Brazil (+20%), Canada (+18%) and the United Kingdom (+6%) all saw steady growth

Visitors spent more in 2023 than ever – $21 1 billion as compared to $20 8 billion in 2022, a net increase of 2% This increase was driven by stronger spending among international visitors and Florida residents

• Domestic visitors spent less in 2023 than they did the year prior While Greater Miami & Miami Beach has always attracted visitors with higher household incomes, inflation and other related factors have made it more challenging for visitors to spend as much as they did in the past This can impact the choice of hotel selected or a decision made to stay with friends and family

• 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. That said, international visitors tended to spend a bit more. While there was a 6% increase year-over-year in international visitors, there was a 10% increase in spending.

Greater Miami & Miami Beach's hotels sold more rooms in 2023 than they did in the year prior, which signaled another record. Demand for paid lodging was strong. However, average daily room rates did not remain as high as they did the year prior. This was not unexpected, as hotel rates in 2022 spiked to all-time highs and were not sustainable.

• Home sharing continued to be very popular, and demand for alternatives to hotel accommodations was evident. While demand for these options increased, the supply of rentals also increased substantially.

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Greater Miami & Miami Beach Visitor Volume

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27.2 Million Total Visitors in 2023

2023 was another standout year, with a record 27.2 million visitors. This growth was fueled by the continued recovery of international visitation along with increased activity from Florida markets, robust cruise passenger volumes and special events

Greater Miami & Miami Beach

Overnight Visitors

Greater Miami & Miami Beach Day Trippers

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2023 Greater Miami & Miami Beach Visitation

Net visitation increased year-over-year International markets continued to rebound last year, and their volume is coming close to pre-pandemic levels Domestic overnight visitation in 2023 was essentially on par with the prior year. Florida residents also demonstrated more interest in Miami, particularly for leisure activities

Greater Miami & Miami Beach Visitors (000s)

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Overnight Visitors 2019 2020 2021 2022 2023 2023 v 2022 Domestic 6,897 4,328 8,719 10,369 10,031 -3% International 5,337 1,842 3,747 4,743 4,905 3% Florida Resident 4,089 1,708 3,450 4,057 4,362 8% Total Overnight 16,323 7,877 15,915 19,169 19,298 1% Day Visitors 2019 2020 2021 2022 2023 2023 v 2022 Domestic 2,213 1,421 3,355 2,399 2,625 9% International 1,568 614 1,442 1,100 1,301 18% Florida Resident 4,064 1,682 3,508 3,832 3,949 3% Total Day Visitors 7,845 3,717 8,304 7,332 7,875 7% 2019 2020 2021 2022 2023 2023 v 2022 Total Domestic 9,110 5,749 12,074 12,768 12,656 -1% Total International 6,905 2,456 5,189 5,843 6,206 6% Total Florida Resident 8,153 3,390 6,958 7,889 8,311 5% Total Visitors 24,168 11,594 24,220 26,501 27,173 3%

Overnight Visitation

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Market Analysis

Overnight Visitation – Origin

For the domestic markets, 2023 regional visitation was close to the prior year

The recovery of international travel has been well underway, with continued improvement from Canada and several main European markets Visitation from Latin America stabilized, and the Caribbean and secondary markets saw some gains.

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Latin America +11% +14% +10% +10% -17% -5% +1% -2% -1% +2% Survey questions: Q. What is your country of residence? Q. What is your zip code? 1,591 1,285 941 511 3,298 2,594 1,891 936 2,857 3,522 2,832 1,157 2,821 3,319 2,685 1,142 South (non-FL) Northeast Midwest West Domestic Overnight Visitors (000s) 2020 2021 2022 2023 537 322 342 288 150 203 1,496 1,033 791 202 29 196 1,496 921 1,037 650 251 388 1,478 910 1,139 642 296 441 South America Central America Caribbean Europe Canada Other Countries International Overnight Visitors (000s) 2020 2021 2022 2023

Top 20 Domestic Markets – Overnight Visitors

Domestic overnight visitation remained strong, with continued growth among many of the top markets New York, Atlanta, Chicago and Los Angeles still hold top positions Generally, volumes in 2023 are higher than they were in 2019, just prior to the pandemic.

Domestic Overnight Visitors

Survey question

Q. What is your zip code?

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

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MARKET 2019 Volume (000s) 2020 Volume (000s) 2021 Volume (000s) 2022 Volume (000s) 2023 Volume (000s) Variance to 2022 (%) New York City 1,364 752 1,663 1,923 1,987 3% Atlanta 380 237 485 581 606 4% Chicago 385 234 461 481 546 14% Los Angeles 276 139 221 384 395 3% Philadelphia 349 164 323 387 371 -4% Dallas 223 149 330 338 368 9% Boston 208 142 271 359 305 -15% Washington, D.C. 299 135 281 347 305 -12% Houston 191 125 306 305 292 -4% Detroit 141 106 208 243 231 -5% Charlotte 86 77 157 175 178 1% Denver 104 66 140 156 155 -1% Raleigh 85 55 107 134 120 -10% Cleveland 100 53 104 121 115 -5% Greenville 68 43 74 115 113 -2% Baltimore 77 48 111 127 111 -13% Nashville 105 43 92 109 104 -4% New Orleans 57 36 98 115 102 -12% Minneapolis 110 69 109 132 99 -25% Kansas City 56 43 88 104 98 -6%

Top 20 International Markets – Overnight Visitors

Our international recovery continues to flourish, with our top 10 markets shifting back to their 2019 rankings Visitors from Brazil, Canada and the United Kingdom came back in force, along with several other European markets. While still ranking in the 2023 top 10 markets, Colombia and Mexico overnight visitation leveled off after essentially being fully recovered by 2022

International Overnight Visitors

Survey question:

Q. In what country do you reside?

Note: Due to smaller sample sizes, only overnight visitor volumes can be reported (no day trippers).

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COUNTRY 2019 Volume (000s) 2020 Volume (000s) 2021 Volume (000s) 2022 Volume (000s) 2023 Volume (000s) Variance to 2022 (%) Colombia 374 144 425 423 403 -5% Brazil 440 118 46 286 342 20% Canada 351 150 29 251 296 18% United Kingdom 321 54 40 209 222 6% Mexico 203 79 183 223 198 -11% Venezuela 169 37 95 161 171 6% Germany 296 31 38 164 170 4% Spain 205 41 46 183 165 -9% Argentina 285 79 117 172 164 -5% France 216 54 37 132 148 12% Ecuador 205 70 133 154 135 -12% The Bahamas 163 51 62 107 134 26% Dominican Republic 92 60 119 143 128 -11% Peru 90 39 86 95 110 16% Chile 102 52 49 83 77 -7% Honduras 62 23 75 89 77 -14% Panama 66 32 52 60 64 7% Trinidad and Tobago 90 16 18 77 64 -17% Nicaragua 28 18 26 31 61 97% Costa Rica 67 35 66 71 59 -17%

Top Florida Resident Markets – Overnight Visitors

Floridians make frequent trips to Greater Miami & Miami Beach, and most of the main Florida feeder markets increased their overnight visitation in 2023. Orlando, West Palm Beach and Jacksonville markets’ overnight visitation increased by double digits

The Naples and Fort Myers area suffered a major hurricane in 2022, which subsequently impacted their traveling in 2023 Still, they came here in greater numbers than in years past

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question: Q. What is your zip code?
Survey
MARKET 2019 Volume (000s) 2020 Volume (000s) 2021 Volume (000s) 2022 Volume (000s) 2023 Volume (000s) Variance to 2022 (%) Orlando 1,078 631 964 1,199 1,333 11% West Palm Beach 1,059 287 689 804 947 18% Tampa/St. Petersburg 1,001 398 809 853 859 1% Jacksonville 401 188 328 418 471 13% Naples/Fort Myers 310 141 387 486 445 -9% Other 240 62 271 297 307 3%
Florida Resident Overnight Visitors
Visitor Industry Overview 2023

Domestic Overnight Visitors – Purpose of Visit

Travel for pleasure clearly made the top of the list and this enthusiasm was self-evident, as more than two-thirds said they came for this purpose

Visiting friends and family also strengthened, as more visitors than ever said they came to the area for those purposes.

All Reasons for Visit – Domestic Overnight Visitors

Survey questions:

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

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

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2021 2022 2023 Vacation/Pleasure 61% 73% 70% Visit friends 17% 18% 22% Visit relatives 13% 16% 19% Business 13% 15% 14% Cruise 1% 10% 8% Food/Gastro-tourism 6% 5% 5% Shopping 5% 4% 4% Convention 1% 2% 3%

Domestic Overnight Visitors – Type of Lodging

The variety of hotels continued to be the predominant choice for accommodations Furthermore, home sharing provides additional options for those who prefer a different experience

While hotel stays continue to be the primary lodging choice among domestic overnight visitors, visitors often took advantage of the opportunity to stay with friends and family as an alternative.

Type of Lodging

Hotel/Motel/Resort/Spa

Stayed with friends/relatives

Home sharing/peer-to-peer rentals

Survey question:

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lodging have
used
NOTE: Only includes accommodation types with more than 3% in each segment 65% 66% 58% 14% 11% 11% 22% 23% 34% 0% 20% 40% 60% 80% 100% 2021 2022 2023
Q. What type of
you
during this visit?

Domestic Overnight Visitors – Accommodations Area

Miami Beach’s popularity endured in 2023, easily being the most popular area to stay among domestic visitors Downtown Miami/Brickell comes in second place as another desired area to stay, along with areas all over Miami-Dade County.

Accommodations Area

AREA

Survey question:

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

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2021 2022 2023 Miami Beach 53% 44% 44% Downtown Miami/Brickell 18% 19% 13% South Miami 7% 7% 8% Sunny Isles 4% 6% 6% North Dade 5% 9% 6% Coral Gables 6% 5% 5% Doral 3% 3% 4% Airport Area 9% 3% 3% Aventura 4% 3% 3% Kendall 3% 2% 3% Coconut Grove 3% 2% 3% Homestead 2% 1% 2% Key Biscayne 2% 2% 2% South Dade 1% 1% 1%

Domestic Overnight Visitors – Mode of Transportation

Similar to past years, Miami International Airport (MIA) was the largest feeder airport for Greater Miami & Miami Beach Domestic visitors also utilized Fort Lauderdale-Hollywood International Airport (FLL), with one in four domestic overnight visitors flying into FLL.

Mode of Transportation

Survey questions:

Q. Which modes of transportation did you use to get to the Greater Miami & Miami Beach area? Q. At what airport did you arrive?

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56% 59% 55% 25% 24% 26% 19% 18% 19% 0% 25% 50% 75% 2021 2022 2023
Flew into MIA Flew into FLL Drove to Miami

Domestic Overnight Visitors – Neighborhoods Visited

Visitation patterns to neighborhoods in Miami-Dade County were consistent with prior years. Domestic visitors continue to flock to Miami Beach, very much like they have in the past One in four visitors also took a trip to Downtown Miami/Brickell. South Dade appears to be increasing in popularity

Neighborhoods Visited

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

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NEIGHBORHOOD 2021 2022 2023 Miami Beach 50% 50% 48% Downtown Miami/Brickell 19% 24% 23% South Dade 14% 17% 19% Little Havana 12% 12% 14% Doral 5% 12% 13% Aventura 12% 15% 13% Coral Gables 8% 10% 12% Wynwood 13% 13% 11% Coconut Grove 9% 9% 10% Key Biscayne 9% 9% 10% Little Haiti 5% 5% 7% Design District 6% 6% 6% Homestead 4% 7% 5% Historic Overtown 5% 5% 4% Bal Harbour 5% 4% 3% South Miami 3% 3% 2% Miami Gardens 1% 2% 2% Everglades 1% 1% 1%

Domestic Overnight Visitors – Top Places of Interest

Similar to prior years, areas such as Lincoln Road, Wynwood Walls, Bayside Marketplace and others continued to draw large crowds

CocoWalk’s recent renovations brought visitors back for shopping, dining and sightseeing in 2023.

Areas/Attractions Visited

Bayside Marketplace

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 who visited a particular neighborhood and do not reflect if a respondent made multiple visits to that neighborhood on that trip.

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

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4% 4% 5% 11% 12% 17% 4% 4% 5% 10% 12% 16% 4% 6% 6% 11% 11% 15%
Zoo Miami CocoWalk/Coconut Grove Calle Ocho/Little Havana Wynwood Walls Lincoln Road
2023 2022 2021

Domestic Overnight Visitors – Top Places of Interest

Greater Miami & Miami Beach is known for its beaches, and domestic visitors continue to show great interest in the area's beaches The popularity of the area’s parks was also evident, with visitors showing strong interest.

Popular Places Visited

Beaches

Tour of the City Parks

Clubs/Night Clubs

Any Place on Ocean Drive

Art Galleries

Museums

Concerts

Theaters

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

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2% 3% 3% 3% 14% 17% 19% 22% 51% 2% 3% 3% 3% 14% 15% 18% 22% 49% 1% 2% 3% 3% 11% 15% 18% 20% 45%
2023 2022 2021

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

Bal Harbour Shops

Dolphin Mall

Aventura Mall

Dadeland Mall

Midtown

Design District

Southland Mall

The Falls Shopping Center

Miami International Mall

Cauley Square Historic Village Shops at Merrick Park

Westland Mall

2023

2022

2021

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

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1% 1% 1% 2% 2% 2% 3% 3% 4% 5% 5% 6% 6% 1% 1% 1% 2% 2% 2% 3% 3% 4% 5% 5% 6% 6% 1% 1% 1% 2% 2% 2% 3% 3% 4% 5% 5% 6% 7%

Domestic Overnight Visitors – Age and Party Size

Much like 2022, the age makeup of domestic visitors was slightly older than in the past few years, but the most dominant segment was still visitors aged 25-34

The average travel party size was consistent with past years, although slightly fewer domestic overnight visitors said they were traveling with children.

Age and Party Size

Survey questions:

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

Q. Including yourself, how many people from each of the

in your immediate travel party?

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following
were
20% 10% 12% 39% 30% 34% 21% 24% 24% 12% 19% 16% 8% 16% 14% 2021 2022 2023
age categories
55+ 45-54 35-44 25-34 18-24 Percent with any children in the party: 16% 17% 12% Average
2.6 2.6 2.5
Party Size:

International Overnight Visitor Profile

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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, followed by visiting friends and family

Furthermore, the cruise industry recovery is well underway and international visitors have resumed cruising.

All Reasons for Visit

Survey questions:

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

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

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2021 2022 2023 Vacation/Pleasure 50% 71% 71% Visit relatives 21% 29% 28% Visit friends 19% 19% 19% Shopping 24% 14% 14% Business 15% 10% 12% Cruise 2% 7% 6% Food/Gastro-tourism 4% 5% 5% Convention 1% 2% 2%

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

Home sharing/peer-to-peer rentals are generally not as popular as other accommodations, but a consistent proportion of international visitors prefer this option.

Type of Accommodations

Hotel/Motel/Resort/Spa Home sharing/peer-to-peer rentals

Stayed with friends/relatives

Survey question:

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lodging
NOTE: Only includes accommodation types
more than 3% in each segment. 48% 53% 48% 10% 10% 12% 42% 37% 40% 0% 20% 40% 60% 80% 2021 2022 2023
Q. What type of
have you used during this visit?
with

International Overnight Visitors – Accommodations Area

Miami Beach continues to maintain the most popularity for lodging among international overnight travelers, followed by North Dade and Downtown Miami/Brickell Still, other areas across the county continue to be popular options similar to prior years.

Accommodations Area AREA

Survey question:

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

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2021 2022 2023 Miami Beach 32% 45% 39% North Dade 10% 19% 15% Downtown Miami/Brickell 11% 13% 14% Airport Area 13% 9% 9% Doral 10% 4% 6% Aventura 9% 5% 6% South Miami 3% 5% 6% Coral Gables 7% 5% 5% Sunny Isles 3% 3% 4% Coconut Grove 2% 2% 3% Key Biscayne 3% 2% 2% Kendall 8% 2% 2% South Dade 1% 1% 1% Homestead 1% 1% 1%

International Overnight Visitors – Mode of Transportation

Three in four international overnight visitors flew into Miami International Airport, while a substantial proportion 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

Survey question:

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

Q. At what airport did you arrive?

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74% 74% 71% 7% 17% 20% 19% 9% 9% 0% 20% 40% 60% 80% 100% 2021 2022 2023
Flew into MIA Flew into FLL Drove to Miami

International Overnight Visitors – Neighborhoods Visited

Miami Beach and Downtown Miami/Brickell were the neighborhoods most often mentioned by international overnight visitors, followed by Aventura, Wynwood and others

Neighborhoods Visited

Survey question:

Q. Did you visit (or do you plan to visit) any of the following neighborhoods 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.

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NEIGHBORHOOD 2023 Miami Beach 44% Downtown Miami/Brickell 33% Aventura 20% Wynwood 19% Coral Gables 16% South Miami 15% Little Havana 13% Design District 10% Miami Gardens 10% Bal Harbour 9% Key Biscayne 9% Coconut Grove 7% Doral 7% Everglades 7% Hialeah 5% Historic Overtown 3% South Dade 3% Homestead 2% Little Haiti 2%

International Overnight Visitors – Top Places of Interest

Many of Greater Miami & Miami Beach's popular areas are visited by large numbers of international visitors Among them, places like Lincoln Road, Bayside Marketplace, Wynwood Walls and others make the list.

Areas/Attractions Visited

Lincoln Road

Bayside Marketplace

Wynwood Walls

Art Deco District

Calle Ocho

Haulover Beach

Biscayne National Park

Vizcaya Museum and Gardens

Zoo Miami

CocoWalk

The Fillmore Miami Beach

Coral Castle

Fairchild Tropical Botanic Garden

Survey question:

2023

Jungle Island

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 who visited a particular area and do not reflect if a respondent made multiple visits to that area on that trip.

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1% 1% 1% 1% 4% 4% 4% 4% 5% 6% 12% 14% 15% 17%

International Overnight Visitors – Shopping Areas Visited

Visitors have a variety of shopping options, and places like the Dolphin Mall, Aventura Mall and Lincoln Road are among the most-often mentioned areas

Dolphin Mall

Aventura Mall

Lincoln Road

Brickell City Centre

Bal Harbour Shops

Miami International Mall

Design District

Westland Mall

Shopping Areas Visited 2023

Dadeland Mall

Midtown

Flea Markets

Shops at Merrick Park

Mayfair Shops

Mall of the Americas

Florida Keys Factory Outlet

Shops at Sunset Place

Southland Mall

Survey question:

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 who visited a particular area and do not reflect if a respondent made multiple visits to that area on that trip.

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1% 1% 2% 2% 2% 2% 3% 3% 6% 7% 7% 8% 10% 14% 18% 28% 32%

International Overnight Visitors – Age and Party Size

While the age of international visitors in 2023 was similar to the prior year, there was a slight uptick in younger visitors, particularly those in the 18-24 age bracket

Overall, age demographics are fairly consistent with 2022, and one in five visitors said they were traveling with children.

Age and Party Size

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

Q. Including yourself, how many people from each of the

in your immediate travel party?

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were
15% 9% 13% 34% 25% 26% 26% 24% 23% 16% 24% 20% 8% 18% 18% 2021 2022 2023
following age categories
55+ 45-54 35-44 25-34 18-24 Percent with any children in the party: 25% 19% 20% Average Party Size: 2.1 2.3 2.5

Florida Resident Overnight Visitor Profile

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Florida Resident Overnight Visitors – Purpose of Visit

Florida resident overnight visitors come for fun and to relax Furthermore, visiting friends and family is also among the top priorities

While Floridians have many options for where to shop all over the state, one in five visitors said they came to Greater Miami & Miami Beach for shopping.

All Reasons for Visit

Survey questions:

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

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

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2021 2022 2023 Vacation/Pleasure 58% 67% 65% Visit friends 40% 35% 36% Visit relatives 31% 29% 28% Shopping 29% 26% 20% Special Events 13% 14% 15% Food/Gastro-tourism 13% 16% 15% Business 20% 15% 13% Sports 7% 7% 10% Cruise 6% 9% 7% Convention 7% 6% 5%

Florida Resident Overnight Visitors – Type of Lodging

Hotel stays remained the predominant type of lodging among Florida residents, although about a third chose to stay with friends/relatives

Type of Lodging

Hotel/Motel/Resort/Spa Home sharing/peer-to-peer rentals

Stayed with friends/relatives

Survey question:

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

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55% 52% 54% 12% 12% 11% 33% 36% 35% 0% 20% 40% 60% 80% 100% 2021 2022 2023

Florida Resident Overnight Visitors – Accommodations Area

About half of Florida resident overnight visitors chose to stay somewhere in Miami Beach Next in line were areas like Downtown Miami/Brickell, South Miami and lodging near the airport Other areas of the county saw similar activity as in prior years.

Accommodations Area

AREA

Survey question:

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

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2021 2022 2023 Miami Beach 53% 56% 47% Downtown Miami/Brickell 16% 16% 15% South Miami 17% 15% 15% Airport Area 14% 13% 13% Coconut Grove 10% 11% 11% Coral Gables 12% 13% 10% Aventura 8% 8% 9% Homestead 7% 7% 8% Doral 6% 6% 7% Key Biscayne 5% 6% 7% South Dade 7% 7% 7% Kendall 6% 6% 6% Sunny Isles 3% 4% 5% North Dade 4% 4% 4%

Florida Resident Overnight Visitors – Mode of Transportation

Greater Miami & Miami Beach is primarily a drive market for Florida residents, although some Floridians who live considerable distances away will utilize air travel in conjunction with automobiles.*

Mode of Transportation*

Survey questions:

Q. Which modes of transportation did you use to get to the Greater Miami & Miami Beach area? *Totals may equal more than 100%.

Q. At what airport did you arrive?

*NOTE: Multiple responses allowed;

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percentages
13% 16% 13% 2% 4% 3% 94% 99% 100% 0% 20% 40% 60% 80% 100% 2021 2022 2023
may add up to more than 100%.
Flew into MIA Flew into FLL Drove to Miami

Florida Resident Overnight Visitors – Neighborhoods Visited

While Miami Beach has always been a favorite area for Floridians, they are also quite likely to visit Downtown Miami/Brickell. Other areas, such as South Miami, Coral Gables and Coconut Grove, continue to be popular

Neighborhoods Visited

Survey question:

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.

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NEIGHBORHOOD 2021 2022 2023 Downtown Miami/Brickell 36% 38% 39% Miami Beach 42% 44% 38% South Miami 21% 23% 20% Coral Gables 19% 17% 18% Coconut Grove 17% 18% 17% Aventura 16% 16% 14% Miami Gardens 17% 16% 13% Little Havana 10% 12% 11% Hialeah 8% 10% 10% Everglades 7% 11% 9% Design District 8% 10% 9% Bal Harbour 11% 9% 9% Doral 10% 9% 9% Key Biscayne 8% 10% 8% South Dade 11% 9% 8% Wynwood 7% 7% 7% Homestead 8% 9% 7% Historic Overtown 6% 8% 7% Little Haiti 6% 7% 7%

Florida Resident Overnight Visitors – Top Places of Interest

Beaches are one of the biggest draws to Greater Miami & Miami Beach, but they are by no means the only places of interest Experiencing nightlife is also popular, along with the destination's parks.

Museums have become increasingly popular among Florida resident visitors, with one in four saying they are interested in museums

Top Places of Interest

Clubs/Night Clubs Beaches

Any Place on Ocean Drive Parks Museums

Theaters Art Galleries Tour of the City

Survey question:

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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? 6% 7% 20% 15% 25% 14% 23% 49% 8% 8% 17% 18% 26% 21% 27% 47% 6% 8% 15% 17% 20% 24% 26% 44%
2023 2022 2021

Florida Resident Overnight Visitors – Top Places of Interest

Areas and attractions like Bayside Marketplace, Miami Beach’s Art Deco District, Biscayne National Park and others generally attract the most Florida resident overnight visitors However, these are only a handful of desirable areas since so many chose many other options.

Top Places of Interest

Bayside Marketplace

Biscayne National Park

Vizcaya Museum and Gardens

Survey question:

Q. Did you

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visit
plan to visit) any of the following places during THIS visit to the Greater Miami & Miami Beach area: Entertainment, attractions, parks? 8% 10% 6% 8% 9% 10% 11% 11% 13% 14% 12% 11% 12% 12% 12% 11% 15% 13% 18% 18% 8% 8% 8% 8% 8% 9% 11% 12% 13% 13%
(or do you
Lincoln
Calle
Garden
Road
Ocho Fairchild Tropical Botanic
Haulover Beach Everglades CocoWalk
Art Deco District
2023 2022 2021

Florida Resident Overnight Visitors – Shopping Areas Visited

Florida resident overnight visitors shop at a variety of places, including Miami International Mall, Aventura Mall, Dolphin Mall and others

Shopping Areas Visited

Survey question:

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Did you visit (or do you plan to visit) any of the following shopping areas during THIS visit to the Greater Miami & Miami Beach area? 7% 6% 6% 6% 8% 12% 13% 15% 6% 6% 5% 6% 10% 13% 16% 17% 4% 5% 5% 6% 6% 9% 13% 14%
Q.
Bal Harbour Shops Lincoln Road Midtown Dadeland Mall Mall of the Americas Dolphin Mall Aventura Mall Miami International Mall
2023 2022 2021

Florida Resident Overnight Visitors – Age and Party Size

The age demographics of Florida resident overnight visitors have not really changed, with 40% of these visitors below the age of 35. Furthermore, one in three visitors came with their children.

Age and Party Size

Percent with any children in the party:

Survey questions:

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

Q. Including yourself, how many people from each of the following age categories

in your immediate travel party?

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13% 16% 15% 24% 24% 25% 33% 33% 30% 12% 13% 12% 19% 14% 17% 2021 2022 2023
were
55+ 45-54 35-44 25-34 18-24
30% 32% 32% Average Party Size: 2.8 2.8 2.7
MiamiandMiamiBeach.com Visitor Industry Overview 2023 Domestic Day

Top 20 Domestic Markets – Day-Trip Visitors

Day-trip volumes among domestic markets saw stronger year-over-year growth than that of overnight visitor markets There are many options for places to stay for visitors who come to the region, including with friends and family who happen to live outside of Miami-Dade County.

Nine of the top 20 markets increased by double digits as compared to the prior year. While many visitors stay outside of the county lines, they intend to make Greater Miami & Miami Beach a part of their journey

Survey question:

What is your

code?

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46 Domestic Day-Trip Visitors MARKET 2021 Volume (000s) 2022 Volume (000s) 2023 Volume (000s) Variance to 2022 (%) New York City 640 445 520 17% Atlanta 184 134 158 18% Chicago 177 111 143 28% Los Angeles 85 89 103 16% Philadelphia 124 89 97 9% Dallas 127 78 96 23% Boston 104 83 80 -4% Washington, DC 108 80 79 -1% Houston 118 71 77 8% Detroit 80 56 60 8% Greenville 30 46 51 11% Charlotte 60 41 47 15% Indianapolis 43 44 47 5% Denver 54 36 41 13% Savannah 21 27 33 22% Raleigh 41 31 32 2% Cleveland 40 28 30 7% Baltimore 43 29 29 0% Nashville 36 25 27 9% New Orleans 38 27 27 0%
specific
specified
Q.
zip
Data derived from surveying and mobile devices that were present in
areas of Miami-Dade County during the
year.

Domestic Day-Trip Visitors – Purpose of Visit

While leisure travel remains the top reason for day trippers to visit Greater Miami & Miami Beach, visiting friends and family remains popular

Special events continue to grow in popularity among domestic visitors, who often travel considerable distances to attend a multitude of Greater Miami & Miami Beach’s diverse events.

All Reasons for Visit – Domestic Day-Trip Visitors

Survey questions:

Q. What was the MAIN purpose of your visit to the

Q. Were there any OTHER purposes of your visit to the

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Greater Miami & Miami Beach area?
Miami
Greater
& Miami Beach area?
2021 2022 2023 Vacation/Pleasure 41% 71% 71% Visit relatives 35% 28% 25% Visit friends 26% 22% 21% Special events 9% 16% 19% Business 9% 9% 9% Food/Gastro-tourism 5% 5% 7% Shopping 21% 4% 6% Cruise 1% 8% 6% Sports 2% 8% 1% Meeting/Convention 0% 1% 1%

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-visited neighborhoods However, both South Dade and Downtown Miami/Brickell have become considerably more popular in recent years.

Domestic Day Visitors

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

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2021 2022 2023 South Dade 16% 25% 28% Downtown Miami/Brickell 22% 26% 25% Miami Beach 23% 18% 17% Aventura 11% 15% 13% Coral Gables 6% 10% 12% Wynwood 12% 6% 5% South Miami 5% 5% 5% Miami Design District 5% 5% 4% Doral 3% 3% 3% Key Biscayne 6% 3% 3% Miami Gardens 1% 3% 3% Little Havana 4% 2% 2% Bal Harbour 3% 2% 2% Coconut Grove 2% 2% 2% Little Haiti 1% 1% 1%
NEIGHBORHOOD

Domestic Day-Trip Visitors – Top Places of Interest

Areas like Bayside Marketplace, Wynwood Walls and Lincoln Road continued to be popular for day excursions, along with numerous other areas of interest

Areas/Attractions Visited

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

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2% 4% 4% 8% 11% 12% 2% 4% 4% 7% 10% 12% 3% 3% 4% 6% 10% 10%
CocoWalk/Coconut Grove Zoo Miami Calle Ocho/Little Havana Lincoln Road Bayside Marketplace Wynwood Walls
2023 2022 2021

Domestic Day-Trip Visitors – Shopping Areas Visited

Domestic day-trip visitors tend to favor Aventura Mall, although they are also spread out among many other areas of Greater Miami & Miami Beach

Shopping Areas Visited

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

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0% 2% 2% 2% 2% 4% 6% 1% 2% 2% 2% 2% 4% 6% 1% 2% 2% 2% 2% 4% 6%
Dadeland Mall Midtown Dolphin Mall Design District Miami International Mall Bal Harbour Shops Aventura Mall
2023 2022 2021

Domestic Day-Trip Visitors – Age and Party Size

The age breakdown of domestic day trippers was similar to 2022, but there was a slight skew toward younger visitors aged 18 to 34

The average travel party size was three people, one-third of which were traveling with children

Age and Party Size

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

Q. Including yourself, how many people from each of the following age categories

in your immediate travel party?

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21% 9% 12% 35% 32% 36% 22% 29% 24% 14% 19% 18% 7% 11% 10% 2021 2022 2023
were
55+ 45-54 35-44 25-34 18-24 Percent with any children in the party: 21% 30% 32% Average
3.0 3.0 2.9
Party Size:

International Day-Trip Visitor Profile

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International Day-Trip Visitors – Purpose of Visit

Much like domestic visitors, international visitors who came to the area for the day were more likely than in the past to reconnect with friends and family during their trip Shopping, as a reason for visiting, was not as popular as it has been in the past.

All Reasons for Visit

Survey questions:

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?

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2021 2022 2023 Visit relatives 35% 53% 52% Vacation/Pleasure 41% 43% 39% Visit friends 26% 22% 26% Special event 9% 11% 16% Shopping 21% 10% 10% Business 9% 7% 8% Cruise 1% 5% 4% Food/Gastro-tourism 5% 3% 4% Meeting/Convention 0% 2% 2% Sporting event 2% 2% 1%

International Day-Trip Visitors – Neighborhoods Visited

Miami Beach stands at the top of the neighborhoods that international day trippers said they visited Miami Gardens, Coral Gables and Downtown Miami/Brickell fell next in line

Neighborhoods Visited

Survey question:

Q. Did you visit (or do you plan to visit) any of the following neighborhoods during THIS visit to the Greater Miami area?

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

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NEIGHBORHOOD 2023 Miami Beach 31% Miami Gardens 13% Coral Gables 10% Downtown Miami/Brickell 10% Key Biscayne 8% Wynwood 8% Aventura 5% Everglades 5% Little Haiti 5% Bal Harbour 3% Coconut Grove 3% South Dade 3% South Miami 3%

International Day-Trip Visitors – Top Places of Interest

While visitors travel all over the county to experience areas and attractions, Bayside Marketplace, Lincoln Road and others were among the ones most often mentioned

Areas/Attractions Visited

2023

Survey question:

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

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

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3% 3% 3% 3% 3% 3% 3% 3% 5% 8%
Art Deco District Calle Ocho CocoWalk Zoo Miami Jungle Island Calder Casino Haulover Beach Wynwood Walls Lincoln Road Bayside Marketplace

International Day-Trip Visitors – Shopping Areas Visited

Aventura Mall and Lincoln Road are two of the most popular places to shop in Greater Miami & Miami Beach The addition of Brightline service to Aventura provides additional options for visitors who are staying outside of the area.

Shopping Areas Visited

Lincoln Road

Design District

2023

Flea markets

of the Americas

Survey question:

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 who visited a particular area and do not reflect if a respondent made multiple visits to that area on that trip.

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8% 8% 8% 8% 8% 25% 33%
Bal Harbour Shops Brickell City Centre Mall Aventura Mall

International Day-Trip Visitors – Age and Party Size

International day-trip visitors in 2023 tended to be older than in prior years, a trend that started in 2022 and held in 2023 Almost one in three visited with their children

Age and Party Size

Survey questions:

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?

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18% 10% 5% 38% 26% 23% 19% 23% 27% 19% 24% 22% 6% 18% 23% 2021 2022 2023
55+ 45-54 35-44 25-34 18-24 Percent with any children in the party: 35% 27% 29% Average Party Size: 2.1 2.3 2.2

Florida Resident Day-Trip Visitor Profile

58

Top Florida Resident Markets – Day-Trip Visitors

Floridians make frequent trips to Greater Miami & Miami Beach, and most of the main Florida feeder markets increased their overnight visitation in 2023. Orlando and West Palm Beach markets’ overnight visitation increased by double digits but went down slightly in overall day-trip volume.

The Naples and Fort Myers area suffered a major hurricane in 2022, but their day trips to Greater Miami & Miami Beach have since returned to what they were in prior years.

Survey question:

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Q. What is your zip code?
MARKET 2021 Volume (000s) 2022 Volume (000s) 2023 Volume (000s) Variance to 2022 (%) West Palm Beach 1,354 1,817 1,762 -3% Orlando 780 757 734 -3% Naples/Fort Myers 532 366 564 54% Tampa/St. Petersburg 405 456 463 1% Jacksonville 282 269 260 -3% Other 154 166 167 0%
Florida Resident Day-Trip Visitors

Florida Resident Day-Trip Visitors – Purpose of Visit

Florida resident day trippers were much more likely than in previous years to say they came to Greater Miami & Miami Beach for a vacation Furthermore, more visitors mentioned they were in the area to visit their friends and family.

All Reasons for Visit

Survey questions:

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

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

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2021 2022 2023 Vacation/Pleasure 49% 49% 68% Visit friends 32% 33% 43% Visit relatives 25% 25% 30% Shopping 25% 24% 24% Food/Gastro-tourism 16% 24% 17% Special event 11% 12% 17% Business 15% 16% 15% Sporting event 5% 8% 12% Cruise 4% 8% 8% Meeting/Convention 4% 8% 7% Non-sporting competition 1% 3% 3% Medical reasons 8% 6% 1%

Florida Resident Day-Trip Visitors – Neighborhoods 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 is an area that Floridians enjoy visiting.

Other areas continue to draw large crowds, such as Coral Gables, Aventura and South Miami.

Neighborhoods Visited

Survey question:

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 who visited a particular neighborhood and do not reflect if a respondent made multiple visits to that neighborhood on that trip.

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NEIGHBORHOOD 2021 2022 2023 Downtown Miami/Brickell 34% 34% 34% Miami Beach 30% 32% 26% Coral Gables 13% 14% 16% Aventura 16% 16% 14% South Miami 18% 16% 13% Miami Gardens 16% 14% 12% Coconut Grove 13% 12% 12% Hialeah 8% 12% 10% Bal Harbour 9% 10% 9% Design District 7% 10% 9% Everglades 8% 10% 9% Doral 8% 9% 8% Little Havana 8% 7% 8% Homestead 7% 9% 7% South Dade 7% 7% 7% Key Biscayne 5% 6% 6% Wynwood 6% 5% 6% Historic Overtown 6% 7% 5% Little Haiti 4% 6% 5%

Florida Resident Day-Trip Visitors – Top Places of Interest

Miami’s beaches continue to be a top area of interest, specifically South Beach Other places, such as parks and museums, are also quite popular.

Top Places of Interest

Beach Beaches

Clubs/Night Clubs

Tour of the City

Any Place on Ocean Drive

Survey question:

Art Galleries

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of the following places during THIS visit to the Greater Miami & Miami Beach area? 10% 11% 11% 16% 15% 25% 20% 27% 34% 6% 8% 13% 16% 16% 19% 21% 28% 36% 5% 5% 13% 13% 15% 17% 17% 23% 32%
Q. Did you visit (or do you plan to visit) any
Theaters
Museums Parks South
2023 2022 2021

Florida Resident Day-Trip Visitors – Top Places of Interest

Top visited places by Florida resident day trippers were consistent with last year. Many top places of interest are outdoors, with considerable interest in nature and outdoor activities

Top Places of Interest

Bayside Marketplace

Everglades

Art Deco District

Biscayne National Park

Calle Ocho/Little Havana CocoWalk

Haulover Beach

Lincoln Road

Vizcaya Museum and Gardens

Fairchild Tropical Botanical Garden

Survey question:

Q. Did you visit (or do you plan to visit) any of the following places during THIS visit to the

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7% 6% 9% 8% 7% 7% 9% 9% 8% 10% 6% 7% 8% 7% 8% 9% 10% 12% 10% 11% 5% 6% 6% 7% 7% 8% 9% 9% 10% 11%
Greater Miami & Miami Beach area: Entertainment, attractions and parks?
2023 2022 2021

Florida Resident Day-Trip Visitors – Shopping Areas Visited

Many Floridians came to the area to shop, and their top spots included Aventura Mall, Miami International Mall, Dolphin Mall and a host of other excellent shopping areas

Shopping Areas Visited

Survey question:

Q. Did you visit (or do you plan to visit) any of the following shopping areas during THIS

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Greater Miami
Miami
4% 5% 4% 4% 5% 10% 11% 10% 3% 4% 5% 4% 7% 9% 11% 9% 3% 3% 3% 4% 5% 7% 8% 9%
visit to the
&
Beach area?
Brickell City Centre Midtown Lincoln Road Westland Mall Mall of the Americas Dolphin Mall Miami International Mall Aventura Mall
2023 2022 2021

Florida Resident Day-Trip Visitors – Age and Party Size

Florida resident day trippers’ ages tend to skew younger, with two-thirds under the age of 45 One in four visitors are traveling to the area with children

Age and Party Size

with any children in the party:

Survey questions:

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

Q. Including yourself, how many people from each of the following age categories

in your immediate travel party?

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were
14% 16% 15% 22% 23% 22% 30% 31% 29% 10% 13% 13% 24% 17% 20% 2021 2022 2023
55+ 45-54 35-44 25-34 18-24 Percent
18% 26% 26% Average Party Size: 2.9 2.7 2.9

Economic Impact

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Impacts of Tourism

More than 27 million individuals visited Miami-Dade County in 2023. The vast majority stayed overnight (71%) and were visiting for leisure purposes. Almost half (47%) of all visitors were from the United States (domestic), followed by Florida residents (30%) and international (23%).

Tourism played a significant role in Miami-Dade County's 2023 economy, with visitors' spending on lodging, food and beverage, retail, transportation and entertainment contributing $21 billion in revenue. Direct spending was 2% above 2022 and 18% over 2019.

Tourism accounted for almost $30 billion in overall economic output and over $19 billion in Gross Domestic Product (GDP), representing 9% of Miami-Dade County’s total GDP.

Direct impacts account for two-thirds of the tourism impact to Miami-Dade County's GDP.

Tourism accounted for 200,000 jobs in 2023, or 10% of all Miami-Dade County jobs Furthermore, tourism drove $11 billion in wages

Additionally, tourism generated $4.9 billion in combined annual tax revenues for Miami-Dade County, the state of Florida and the federal government

Miami-Dade County and state of Florida annual tax revenues accounted for $2.1 billion of the combined annual tax revenue, resulting in tax savings of more than $2,200 per household or $800 per person living in the county.

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Total Visitor Spend

Overall spending increased year over year in 2023, driven by strong spending in the international and Florida resident segments Domestic visitor spending leveled off a bit but still represented the largest visitor spend segment.

Total Visitor Spend

2023 Visitor Vs. Expenditure Mix

Domestic International FL Resident

Survey questions:

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

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money spent
party
TRIP
by EVERYONE in your IMMEDIATE
on YOUR
SEGMENT 2019 ($M) 2020 ($M) 2021 ($M) 2022 ($M) 2023 ($M) Variance to 2022 (%) Domestic $6,867 $4,153 $9,772 $11,367 $10,684 -6% International $8,378 $2,501 $6,495 $6,058 $6,637 10% FL Resident $2,614 $1,262 $2,955 $3,366 $3,828 14% Total $17,860 $7,916 $19,222 $20,792 $21,149 2% 51% 47% 31% 23% 18% 31%
Expenditures Percent
Visitors
Percent of
of

Visitor Spending – Total and Per Person

Spending in 2023 was buoyed by the record number of visitors, who contributed $21 1 billion to the local economy

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

Total Visitor Spending ($Million)

Per-Person, Per-Visit Spending

Survey questions:

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

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much money
spent IN TOTAL ON YOUR TRIP
specifically in the MIAMI AREA. Please include
estimate
money spent by
in
IMMEDIATE party on YOUR TRIP
how
you
,
in your
the
EVERYONE
your
CATEGORY Domestic % of Total International % of Total Florida Residents % of Total Total % of Total Lodging $5,136 48% $3,042 46% $1,522 40% $9,699 46% All Meals $2,158 20% $1,161 17% $635 17% $3,954 19% Transportation $1,218 11% $982 15% $583 15% $2,783 13% Entertainment $988 9% $456 7% $397 10% $1,840 9% Shopping $1,184 11% $997 15% $692 18% $2,872 14% Total $10,684 100% $6,637 100% $3,828 100% $21,149 100%
CATEGORY Domestic International Florida Residents Total Lodging $406 $490 $183 $1,079 All Meals $171 $187 $76 $434 Transportation $96 $158 $70 $325 Entertainment $78 $73 $48 $199 Shopping $94 $161 $83 $337 Total $844 $1,069 $461 $2,374

$21.1B in Visitor spending in Miami-Dade County 27.2M visitors to

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2023 Economic Impact of Tourism on Miami-Dade County
total Economic
9% of Miami-Dade County’s GDP is driven by tourism
Miami-Dade
$1.1, 23% $1.0, 20% $2.8, 57% Miami-Dade County Taxes generated by tourism ($ Billions) Local State Federal $4.9B in Total Taxes generated Miami-Dade County Resident Savings $786 per resident $2,233 per household via State and Local Taxes SPENDING IMPACT TAXES
Miami-Dade County $29.7B in
Impact
Supports 200,000+ Jobs 10% of Jobs in
County
MiamiandMiamiBeach.com Visitor Industry Overview 2023 Appendix 71

Methodology

The GMCVB partners with Integrated Insights Inc to conduct surveys at Miami International Airport (MIA), Fort Lauderdale-Hollywood International Airport (FLL) and throughout various attractions, retail outlets and visitor centers in Miami-Dade County. Florida resident visitors are interviewed continuously throughout the year via online survey panels The 2023 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

• Mobile device data

• STR

• I-I92/I-I94 Visitor Arrivals

• Online and in-person surveying

• VISA card transactions

Economic impact assessments are based on analysis by an independent research partner, using IMPLAN in order to calculate the various impacts of tourism.

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

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Overnight Visitor Segment Profiles

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Top Areas Stayed In

$1,014

MiamiandMiamiBeach.com Visitor Industry Overview 2023
Visitor Overview 74 44% 13% 8% 6% 6%
Domestic: Overnight
South
Miami Beach Downtown Miami/Brickell
Miami North Dade Sunny Isles
stay in hotels
10.0M Visitors (52% of total overnight) 58%
($10.2B total spend as a segment) 4.3 Avg. Length of Stay have HHI of $100k+ 43% $512 $199 $116 $93 $95 Hotel F&B Transportation Ent. Shopping Total Spend Per Person
Total spend per person

Domestic: Overnight Visitor Overview

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Reasons for Visit: Vacation & Leisure 70% Visit Friends/ Family 41% Business 14% 371 395 546 606 1,987 Philadelphia Los Angeles Chicago Atlanta New York City Top Visitor Markets (1,000s) 81% fly 12% Family 2.5 Avg. Party Size

4.9M Visitors (25% of total overnight)

48% stay in hotels

8.5 Avg. Length of Stay have HHI of $100k+ 19%

Top Areas Stayed In

Total Spend Per Person

$1,305

Total spend per person

($6.4B total spend as a segment)

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76 39% 15% 14% 9% 6% 6%
International: Overnight Visitor Overview
Miami
Beach North Dade Downtown Miami Airport Area
Aventura Doral
$620 $224 $191 $85 $184
F&B Transportation Ent.
Hotel
Shopping

International: Overnight Visitor Overview

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Reasons for Visit: Vacation & Leisure 71% Visit Friends/ Family Shopping 47% 14% 91% fly 198 222 296 342 403 Mexico United Kingdom Canada Brazil Colombia Top Visitor Markets (1,000s) 20% Family 2.5 Avg. Party Size 77

Florida Residents: Overnight Visitor Overview

4.4M

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47% 15% 15% 13% 11% 10% Miami Beach South Miami Downtown Miami Airport Area Coconut Grove Coral Gables 54% stay in hotels Top Areas Stayed In (Among all overnight visitors)
Visitors (23% of total overnight) $349 $113 $70 $61 $96 $689 Total spend per person
total spend as a segment) Total Spend Per Person 31% have HHI of $100k+ Hotel F&B Transportation Ent. Shopping
($3.0B

Florida Residents: Overnight Visitor Overview

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17% 18% 20% 38% 39% Coconut Grove Coral Gables South Miami Miami Beach Downtown Miami/Brickell Top Neighborhoods Visited Reasons for Visit: Vacation/ Leisure 65% Visit Friends/ Family 64% Shopping 20% 445 471 859 947 1,333 Naples/Fort Myers Jacksonville Tampa/St. Petersburg Palm Beach Orlando Top Visitor Markets (1,000s) 32% Family 2.7 Avg. Party Size Avg. Length of Stay 2.9
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2023 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 rank among the Top 25 U S hotel markets in 2023 While destinations in Florida led among the most desirable domestic destinations, Miami-Dade County ended the year with an average hotel occupancy rate of 71.9% and an ADR (average daily room rate) of $221.34. The changes in occupancy and ADR resulted in RevPAR (revenue per available room) of $159 22

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 2023, Miami-Dade County ranked favorably in all three major categories (Occupancy, ADR and RevPAR) when compared against the Top 25 U S hotel markets by STR Generally, these metrics were all higher in the year prior, but this was largely due to other destinations that were finally more accessible in the wake of pandemic restrictions 2023 was a return to more historical hotel performance.

Miami-Dade County:

#7 Occupancy

#5 Average Daily Room Rate (ADR)

#4 Revenue Per Available Room (RevPAR)

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Source: STR

TOP 25 HOTEL MARKETS

OCCUPANCY

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Rank Area Jan - Dec 2023 Jan - Dec 2022 23 vs 22 1 New York 81.6% 75.0% 8.8% 2 Oahu Island 79.6% 75.6% 5.3% 3 Las Vegas 77.9% 74.4% 4.7% 4 San Diego 73.5% 72.6% 1.3% 5 Orlando 72.7% 73.4% -1.0% 6 Boston 72.2% 67.3% 7.2% 7 Miami-Dade 71.9% 73.1% -1.5% 8 Los Angeles 71.7% 70.4% 1.8% 9 Anaheim 71.6% 70.1% 2.1% 10 Tampa 69.6% 71.5% -2.6% 11 Denver 69.4% 67.8% 2.4% 12 Nashville 68.9% 68.3% 0.9% 13 Phoenix 68.4% 68.2% 0.3% 14 Seattle 67.3% 66.2% 1.5% 15 Washington, DC 66.7% 61.6% 8.2% 16 Dallas 66.2% 64.9% 1.9% 17 San Francisco 65.7% 64.0% 2.6% 18 Atlanta 65.1% 64.9% 0.3% 19 Chicago 63.0% 60.9% 3.5% 20 Philadelphia 61.3% 60.0% 2.2% 21 Houston 59.8% 56.6% 5.6% 22 New Orleans 59.3% 61.4% -3.3% 23 Detroit 59.1% 57.7% 2.4% 24 St. Louis 58.1% 57.8% 0.5% 25 Minneapolis 57.3% 55.1% 4.0%

Source: STR

TOP 25 HOTEL MARKETS

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AVERAGE DAILY RATE (ADR) Rank Area Jan - Dec 2023 Jan - Dec 2022 23 vs 22 1 New York $301.22 $277.63 8.5% 2 Oahu Island $281.69 $266.56 5.7% 3 Boston $224.19 $211.09 6.2% 4 San Francisco $223.96 $211.15 6.1% 5 Miami-Dade $221.34 $233.53 -5.2% 6 Anaheim $211.42 $202.36 4.5% 7 San Diego $209.94 $204.89 2.5% 8 Los Angeles $197.91 $194.96 1.5% 9 Las Vegas $194.78 $176.05 10.6% 10 Orlando $192.98 $185.98 3.8% 11 Washington, DC $179.02 $163.10 9.8% 12 Nashville $179.02 $169.58 5.6% 13 Seattle $177.28 $167.78 5.7% 14 Phoenix $173.80 $161.73 7.5% 15 Tampa $170.60 $163.75 4.2% 16 New Orleans $169.20 $175.44 -3.6% 17 Chicago $160.51 $155.87 3.0% 18 Philadelphia $151.81 $146.12 3.9% 19 Denver $149.35 $141.24 5.7% 20 Minneapolis $129.23 $124.15 4.1% 21 Atlanta $125.42 $118.28 6.0% 22 Dallas $124.22 $115.89 7.2% 23 St. Louis $123.79 $118.06 4.9% 24 Detroit $121.50 $115.71 5.0% 25 Houston $113.22 $106.47 6.3%

Source: STR

TOP 25 HOTEL MARKETS

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REVPAR (REVENUE PER AVAILABLE ROOM) Rank Area Jan - Dec 2023 Jan - Dec 2022 23 vs 22 1 New York $245.77 $208.17 18.1% 2 Oahu Island $224.32 $201.61 11.3% 3 Boston $161.82 $142.14 13.8% 4 Miami-Dade $159.22 $170.61 -6.7% 5 San Diego $154.26 $148.65 3.8% 6 Las Vegas $151.72 $130.99 15.8% 7 Anaheim $151.34 $141.87 6.7% 8 San Francisco $147.10 $135.15 8.8% 9 Los Angeles $141.81 $137.17 3.4% 10 Orlando $140.23 $136.53 2.7% 11 Nashville $123.38 $115.82 6.5% 12 Washington, DC $119.41 $100.50 18.8% 13 Seattle $119.25 $111.15 7.3% 14 Phoenix $118.92 $110.37 7.7% 15 Tampa $118.76 $117.05 1.5% 16 Denver $103.60 $95.71 8.2% 17 Chicago $101.19 $94.97 6.5% 18 New Orleans $100.40 $107.69 -6.8% 19 Philadelphia $92.99 $87.60 6.2% 20 Dallas $82.23 $75.27 9.3% 21 Atlanta $81.66 $76.78 6.4% 22 Minneapolis $74.11 $68.44 8.3% 23 St. Louis $71.95 $68.28 5.4% 24 Detroit $71.78 $66.76 7.5% 25 Houston $67.72 $60.27 12.3%

FLORIDA CITIES HOTEL MARKETS

MiamiandMiamiBeach.com Visitor Industry Overview 2023 85 FLORIDA
OCCUPANCY Rank Area 2023 2022 2023 vs 2022 1 Miami-Dade 75.3% 71.8% 4.9% 2 Fort Lauderdale 74.6% 70.7% 5.5% 3 Florida Keys 73.9% 72.7% 1.6% 4 Orlando 70.5% 72.6% -3.0% 5 Palm Beach 68.1% 68.8% -1.0% 6 Tampa 63.7% 67.8% -6.0% 7 Jacksonville 63.6% 66.0% -3.5% 8 Fort Myers 63.4% 72.5% -12.6% 9 Melbourne 61.7% 65.6% -5.9% 10 Florida Central 57.2% 63.2% -9.5% 11 Daytona Beach 46.9% 53.6% -12.4% 12 Florida Panhandle 44.2% 45.4% -2.6%
CITIES HOTEL MARKETS
AVERAGE DAILY RATE (ADR) Rank Area 2023 2022 2023 vs 2022 1 Florida Keys $403.08 $402.05 0.3% 2 Palm Beach $283.03 $285.72 -0.9% 3 Miami-Dade $268.22 $263.92 1.6% 4 Orlando $204.49 $209.51 -2.4% 5 Fort Lauderdale $191.86 $195.17 -1.7% 6 Florida Central $172.80 $156.89 10.1% 7 Fort Myers $156.50 $184.56 -15.2% 8 Tampa $151.95 $155.92 -2.5% 9 Jacksonville $137.80 $138.31 -0.4% 10 Melbourne $135.22 $132.75 1.9% 11 Daytona Beach $118.78 $123.80 -4.1% 12 Florida Panhandle $103.37 $104.89 -1.4% FLORIDA CITIES HOTEL MARKETS REVPAR (REVENUE PER AVAILABLE ROOM) Rank Area 2023 2022 2023 vs 2022 1 Florida Keys $297.83 $292.46 1.8% 2 Miami-Dade $202.02 $189.48 6.6% 3 Palm Beach $192.78 $196.60 -1.9% 4 Orlando $144.13 $152.16 -5.3% 5 Fort Lauderdale $143.10 $137.99 3.7% 6 Fort Myers $99.18 $133.85 -25.9% 7 Florida Central $98.85 $99.18 -0.3% 8 Tampa $96.74 $105.64 -8.4% 9 Jacksonville $87.69 $91.22 -3.9% 10 Melbourne $83.47 $87.08 -4.2% 11 Daytona Beach $55.75 $66.32 -15.9% 12 Florida Panhandle $45.69 $47.62 -4.0%
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Tourist-Related Taxes Collected in Miami-Dade County

4% Room Tax 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.

.5% Transit Tax**

.5% JMH Tax**

GREATER MIAMI CONVENTION & VISITORS BUREAU Analysis of Miami-Dade Tourist Taxes Fiscal Year 2022/23 Tax Rate Tax Name Where Tax is Collected Who Collects Amount Collected GMCVB GMCVB % Allocation 3% Convention Development Tax* All of Miami-Dade except Bal Harbour and Surfside Miami-Dade County $129,200,307 $0 0% 2% Tourist Development Tax* All of Miami-Dade except Bal Harbour, Miami Beach and Surfside Miami-Dade County $47,735,638 $25,698,903 54% 1% Professional Sports Tax* All of Miami-Dade except Bal Harbour, Miami Beach and Surfside Miami-Dade County $23,867,819 $0 0% 2% Hotel Food & Beverage Tax: This tax is collected on all food and beverages sold in hotels. All of Miami-Dade except Bal Harbour, Miami Beach and Surfside Miami-Dade County $11,333,980 $10,672,937 93% 1% Non-Hotel Food & Beverage Tax: This tax is collected on food and beverages sold in restaurants not in hotels, with full liquor license and gross sales of over $400,000 annually. (The Homeless Tax) All of Miami-Dade except Bal Harbour, Miami Beach and Surfside Miami-Dade County $40,545,037 $0 0% 4% Resort Tax Miami Beach City of Miami Beach $74,477,495 $7,354,840 10% 2% Food
hotels.
includes fast food establishments. $39,388,293 4% Room Tax 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 $5,937,620 0%
Tax
& Beverage Tax: This tax is collected on food and beverages sold in restaurants in and out of
This
2% F&B
Surfside Town of Surfside $5,198,581 0%
TOTAL TOURIST-RELATED TAXES COLLECTED $377,684,771 $43,726,680 Miami-Dade
.5%
All
Miami-Dade County Miami-Dade County $105,745,777
.5% Sales tax on all goods
services sold in Miami-Dade County which the state sales tax is collected on. All of Miami-Dade County Miami-Dade County $105,745,777
6%
All
Miami-Dade County $1,268,949,327 TOTAL
TOTAL
TAXES COLLECTED $1,858,125,652 GMCVB % OF TOTAL TOURIST TAX COLLECTIONS 12%
2% F&B Tax
Sales tax on all goods and services sold in Miami-Dade County which the state sales tax is collected on.
of
Miami-Dade
and
6% FL State Sales Tax
Sales tax on all goods and services sold in Miami-Dade County which the state sales tax is collected on.
of Miami-Dade County
SALES TAXES COLLECTED $1,480,440,881
SALES AND TOURIST-RELATED

Leisure and Hospitality Employment

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MIAMI-DADE COUNTY JOBS

Miami-Dade County 2023

*Reflects annual revision by Florida Department of Economic Opportunity

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2022* 2023 % Change Total Employment (Non-Agricultural) 1,291,500 1,342,100 3.9% Leisure and Hospitality Employment 126,500 127,900 1.1% Leisure and Hospitality Employment as % of Total Employment 11.1% 10.9% -1.8% Leisure / Hospitality Employment, 10.9% Non - Leisure / Hospitality Employment, 90.1%
Leisure and Hospitality Employment

MIAMI-DADE COUNTY

LEISURE AND HOSPITALITY EMPLOYMENT TRENDS

Source: Florida Agency for Workforce Innovation

MIAMI-DADE LEISURE AND HOSPITALITY EMPLOYMENT

Note: Reported figures are in thousands

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2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 23 vs 22 JANUARY 126.9 132.1 138.9 139.5 140.6 143.7 146.9 109.0 132.1 141.6 7.2% FEBRUARY 128.5 133.5 141.4 141.5 144.1 145.8 150.1 112.3 134.6 145.2 7.9% MARCH 131.0 135.5 143.5 143.3 145.6 148.1 144.4 114.8 136.5 146.0 7.0% APRIL 130.4 135.3 143.0 143.6 144.2 147.2 70.5 117.3 138.9 144.5 4.0% MAY 129.8 134.3 141.7 143.4 143.9 146.5 78.8 119.8 140.1 146.9 4.9% JUNE 129.4 133.5 139.6 143.4 141.2 144.1 96.9 122.3 137.4 142.7 3.9% JULY 127.3 132.6 138.5 140.7 141.5 143.6 92.2 126.3 137.2 141.6 3.2% AUGUST 127.6 133.5 138.3 141.4 143.4 145.6 87.7 127.1 138.2 140.8 1.9% SEPTEMBER 128.7 132.9 139.7 133.3 142.5 143.7 93.6 127.3 139.6 139.0 -0.4% OCTOBER 130.1 133.5 141.2 137.7 143.4 145.4 97.9 131.0 141.3 140.1 -0.8% NOVEMBER 132.5 135.0 144.1 140.0 145.2 147.3 102.5 134.6 141.1 144.4 2.3% DECEMBER 133.6 135.2 144.5 140.8 145.9 148.3 104.7 135.0 143.4 146.1 1.9% YTD Average 129.7 133.9 141.2 140.7 143.5 145.8 115.9 123.1 138.4 143.2 3.5%
65.0 85.0 105.0 125.0 145.0 165.0 JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER
2023 2022

2023 Dashboard of Key Visitor Industry Indicators

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Monthly Dashboard of Key Visitor Industry Indicators

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© Greater Miami Convention & Visitors Bureau The Official Destination Sales & Marketing Organization for Greater Miami & Miami Beach 201 S. Biscayne Blvd., Suite 2200 Miami, FL 33131 USA 1901 Convention Center Drive Miami Beach, FL 33139 USA (305) 539-3000 (800) 933-8448 MiamiandMiamiBeach.com

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