Research Shows over $27+ Billion Annual Boost in Florida from Vacation Home Rentals
UCF Research Shows Vacation Home Rentals Boost Florida’s Economy by $27+ Billion Annually
February 11, 2020 – www.floridatrend.com
A new report by the University of Central Florida’s Rosen College of Hospitality Management shows the economic impact of Florida’s vacation home rental industry exceeds $27 billion.
“Our research confirms that Florida’s lodging industry for vacations, beyond traditional hotels and resorts, which include rentals like houses, apartments and condos, boosts the economy significantly. Renters remain in the state longer, some up to 30 days, and spend more money, on average $1,000 per person,” says Robertico Croes, associate dean of research at UCF Rosen College. “These long-term stays also provide more than 100,000 jobs for people supporting the vacation rental businesses.”
“Renters remain in the state longer, some up to 30 days, and spend more money, on average $1,000 per person.” — Robertico Croes, UCF associate dean
The report notes several other key findings:
• The 2018 economic impact of Florida’s vacation home rental industry represents $16.6 billion in direct spending and $10.8 billion in indirect spending, totaling $27.4 billion.