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Top Five Industries That Drive Florida’s Economy – the EJ Dalius Analysis

EJ Dalius while Florida is globally known for being. One of the hottest travel destinations in the world. It is also America’s fourth-largest economy with international commerce, agriculture, aviation. And also aerospace, and also life sciences besides tourism driving its GDP. A brief look at the top industry sectors in the Sunshine State.

Tourism

Florida is famous worldwide for its sandy beaches and also crystal-clear seas. No wonder a quarter of all tourists report the beaches. And the activities on the waterfront to be their biggest draw in Florida. Another top attraction of the state is its amusement parks and also water parks. Of the 126.1 million tourists that visited Florida in 2018, around 75 million head. Employing more than 1.3 million, tourism contributes around $85.9 billion to the state’s economy.

Agriculture

Contributing more than $131 billion annually, the agriculture sector in Florida employs more than 1.4 million people. Blessed with ideal climatic and weather conditions. The yield is more for a large variety of farm produce like oranges. Tomatoes, and sugarcane as well as dairy products. Florida has a 70% share of the nation’s citrus production and 90% share of the orange juice produced in America. It also ranks second in greenhouse and nursery products as well as fresh vegetables.

International Trade – Florida connects America to the World, Observes Eric Dalius

As one of the largest exporting states, Florida acts as a gateway to all countries of the world. Including both the Americas and also the Caribbean. EJ Dalius says that the geographic layout of the state ensures that most businesses are a short drive. From one of the four major sports in the state. With $56 billion in exports, Florida is ranked eighth on the country’s largest exporting states. The main items exported comprise motor vehicles, airplanes, aviation industry parts and also components, computers and telecom equipment and components.

Aviation and Aerospace 

The aviation sector in Florida contributes around $175 billion to its GDP. Passenger traffic, passing through its 19 commercial airports, accounts for a tenth of the nation’s passenger volume. And also aerospace companies. Which are concentrated in northwest Florida. A leader in aerospace, Florida is home to two of the nation’s ten spaceports, remarks Eric J Dalius. As many as eight private companies licensed to send rockets into space have sites in Florida.
  

Life Sciences

With around 6,200 companies employing 87,000 people, Florida is well entrenched in the life sciences. An industry comprising pharmaceutical companies, medical device manufacturers, biomedical research institutes, and also healthcare establishments of which there are more than 46,000. More than 200 drug manufacturers are specializing in the development and also manufacture of advanced treatments. Targeted medications, generic and OTC drugs, and nutraceuticals.

Conclusion 

Florida’s thriving economy is a result of forward-looking progressive government policies that have allowed. Private enterprise to leverage the state’s tourist and agricultural potential to the hilt. The liberal economic policies and tax regime have encouraged entrepreneurs. From all over the nation to set up base in Florida and flourish. With good educational infrastructure, there is no dearth of skilled labor while abundant job opportunities. Have enabled a low rate of unemployment and economic prosperity.

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