State Economists Report on Visit Florida’s ROI During Pandemic

As Florida’s tourism industry grappled with the effects of the pandemic, a recent analysis by state economists revealed a significant drop in Visit Florida’s return on investment. However, with tourism making a comeback, the agency is expected to bounce back to pre-pandemic levels.

The analysis, released by the Legislature’s Office of Economic & Demographic Research, highlighted the impact of the pandemic on Visit Florida’s economic return, which plummeted to 58 cents for every $1 spent on marketing during the peak of COVID-19.

Despite the challenges faced, Visit Florida is projected to see a resurgence in its return on investment as tourists flock back to the state’s beaches, theme parks, and attractions.

Key Points:

  • During the pandemic, Visit Florida’s return on investment dropped to 58 cents for every $1 spent on marketing.
  • With tourists returning to beaches and attractions, the agency’s economic return is expected to rebound to pre-pandemic levels.
  • Theme parks like Disney, Universal Studios, and SeaWorld played a significant role in marketing efforts, contributing to the industry’s recovery.

Overall, the tourism landscape in Florida has seen a shift due to the pandemic, with Visit Florida focusing on attracting local and domestic travelers before pivoting to international markets. The agency’s efforts, combined with increased advertising by theme parks, have contributed to the industry’s recovery.

Looking ahead, lawmakers have allocated $80 million for Visit Florida in the upcoming fiscal year, emphasizing the importance of the agency’s role in promoting tourism in the state.

Conclusion:

As Florida’s tourism industry navigates the aftermath of the pandemic, Visit Florida’s return on investment is poised to return to pre-pandemic levels. With tourists flocking back to the state’s attractions, the agency’s marketing efforts, combined with contributions from major theme parks, are driving the industry’s recovery. As the state looks towards a future post-pandemic, Visit Florida remains a key player in promoting Florida as a premier tourist destination.

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