| With property prices seemingly on the rise | | | | 2004 - 912,700 |
| and rising quickly in Tampa, there is a lot | | | | |
| of talk about a real estate bubble in the US | | | | This growth in visitors is due to Florida's |
| and dire predictions that the so-called | | | | many attractions, many of which are near to |
| bubble could burst, leading to a lack of | | | | Tampa Bay. The superb beaches, the night life |
| confidence on the part of investors and | | | | opportunities, golf and other sporting |
| people seeking a second home. But while this | | | | opportunities whether playing or being a |
| talk of a bubble may be true in some parts of | | | | spectator, the theme parks and adventure |
| America, it isn't justified in Florida, | | | | worlds, Disney, of course - and the many |
| particularly in the Tampa Bay and Clearwater | | | | areas of unspoiled beauty. And, if anything, |
| areas. | | | | this annual visitation is set to increase |
| | | | again as the Super Bowl comes to Tampa in |
| Florida as a whole is enjoying a rise in | | | | 2009. This will be the fourth Super Bowl to |
| property prices which promises to be a long | | | | be held in Tampa. This has a dramatic effect |
| term trend. There are many reasons for this. | | | | on our area's prosperity. |
| | | | |
| Demand for real estate in Florida is | | | | The increasing economic prosperity also makes |
| increasing. Homes are being bought for | | | | Florida in general and Tampa Bay in |
| various reasons. Both American and European | | | | particular a good place to find a job or |
| holiday makers view Florida as a premier | | | | start a business. In 2004, Florida was ranked |
| summer holiday location and flock there each | | | | #2 as one of the best places in America for |
| summer and historical evidence suggests that | | | | start-ups. More and more companies are also |
| this figure is rising sharply and is having a | | | | relocating their headquarters to Tampa, as |
| major economic impact on the region according | | | | well. Tampa is now being called the "Gateway |
| to VISIT FLORIDA research. | | | | to the Florida High Tech Corridor", because |
| | | | companies are being offered a matching grant |
| Historic Visitor Numbers (in Millions) | | | | program that has generated more than $120 |
| | | | million in applied research. 225 companies |
| Year Total | | | | have already taken advantage of this. |
| | | | |
| 1999 58.9 | | | | The area has relatively low real estate |
| | | | prices and a lower cost of living and higher |
| 2000 72.8 | | | | employment statistics compared to the rest of |
| | | | Florida and to other states in America, |
| 2001 69.5 | | | | despite recent increases. The median value |
| | | | for a home in Florida was $189,500 last year, |
| 2002 73.9 | | | | significantly less than similar homes in |
| | | | California where the median home value was |
| 2003 74.6 | | | | $474,370. (Source: ). In Tampa Bay, it was |
| | | | less again. |
| 2004 79.7 | | | | |
| | | | Florida, including Tampa, also enjoys the |
| Historic Economic Impact | | | | advantage of having slightly more favorable |
| | | | property taxes compared with other parts of |
| Total Tourism Spending 1999-2004: | | | | the US, no state income tax and better car |
| | | | insurance rates. The education system has |
| 1999 - $44.6 billion | | | | undergone considerable improvement over the |
| | | | past number of years. And the Tampa area also |
| 2000 - $48.5 billion | | | | has some of the best commute to work times in |
| | | | the country. |
| 2001 - $48.6 billion | | | | |
| | | | Tampa Bay is perhaps the ideal place not just |
| 2002 - $49.5 billion | | | | for the baby boomer buying a second house or |
| | | | holiday home, nor just for the property |
| 2003 - $51.5 billion | | | | investor seeking to increase their footprint |
| | | | in the holiday rental market, but also for |
| 2004 - $57.0 billion | | | | people starting out in life or those seeking |
| | | | a retirement home. |
| Total State Sales Tax Revenues from Tourism | | | | |
| 1999-2004: | | | | There have been several new developments in |
| | | | Tampa Bay Florida real estate and Clearwater |
| 1999 - $2.7 billion | | | | Beach real estate holdings; the plans for |
| | | | developing downtown Tampa, especially the |
| 2000 - $2.9 billion | | | | Rivergate area, are potentially very exciting |
| | | | indeed, according to recent articles in the |
| 2001 - $2.9 billion | | | | Tampa Bay Business Journal. |
| | | | |
| 2002 - $3.0 billion | | | | In short, Florida as an area for either |
| | | | relocation, investment or a second home is |
| 2003 - $3.0 billion | | | | currently one of the most attractive in |
| | | | America and likely to remain so for some |
| 2004 - $3.4 billion | | | | time. Due to the recent economic pressure on |
| | | | the US as a whole there might be a slight |
| Number of Persons Directly Employed by | | | | slow down in terms of escalating appreciation |
| Tourism Industry 1999-2004: | | | | but Florida remains a great place to come and |
| | | | a great place to invest, especially Tampa Bay |
| 1999 - 826,200 | | | | real estate and Clearwater Bay real estate, |
| | | | which are right in the heart of the potential |
| 2000 - 842,900 | | | | growth areas. |
| | | | |
| 2001 - 864,500 | | | | No bubbles bursting here, just opportunities |
| | | | galore! |
| 2002 - 862,900 | | | | |
| | | | Bob Lipply is a licensed broker associate |
| 2003 - 871,000 | | | | with Remax Realtec in Palm Harbor, Florida. |
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