FLORIDA’S INTERNATIONAL BUSINESS FAST FACTS

Florida is home to nearly 60,000 exporting companies – second only to California. One out of every five (20%) U.S. exporters is located in Florida.
(U.S. Census Bureau)

Ninety-five percent of Florida exporters are small or medium-sized enterprises (SMEs) with 500 of fewer employees. SMEs accounted for 58% of Florida exports in 2021.
(U.S. Census Bureau)

With $191 billion in two-way merchandise trade in 2023, Florida is a major gateway for trade between North America, Latin America, the Caribbean, and other world regions. $87 billion in exports and $105 billion in imports were shipped through the state’s 14 seaports and 20 airports.
(SelectFlorida Research, U.S. Census Bureau)

Widely recognized as a global hub for the Western Hemisphere, Florida accounts for nearly 30% of total U.S. trade with Latin America and the Caribbean.
(SelectFlorida Research, U.S. Census Bureau)

Florida ranks sixth in the nation in state-origin exports (i.e., those produced, or with significant value-added) and reached an all-time record of $69 billion in 2023.
(SelectFlorida Research, U.S. Census Bureau)

Global imports destined for the state also recorded an all-time record of $113 billion, ranking Florida the ninth largest U.S. destination for imports in 2023.
(SelectFlorida Research, U.S. Census Bureau)

Florida ranks third among U.S. states in high-tech exports – reaching $14.9 billion in 2023 – with Latin America serving as a prime destination for these products.
(SelectFlorida Research using WISERTrade)

Florida is responsible for $61.9 billion in services exports, ranking fourth largest state in the country in 2022, and accounting for more than 300,000 jobs.
(SelectFlorida Research using WISERTrade Analysis, and Coalition of Services Industries)

Florida sits at the nexus of transportation links in the Americas. Florida’s 14 active deepwater seaports and 20 commercial airports ensure the seamless movement of travelers and goods throughout
the state.

(Florida Department of Transportation)

Florida’s seaports and airports handled more than 47 million metric tons of internationally traded goods in 2023. 

(U.S. Census Bureau)

Home to the second largest foreign trade zone (FTZ) network in the nation, Florida has 19 FTZs around the state. (U.S. Department of Commerce)

Miami International Airport (MIA) ranks number one busiest airport in the U.S. for international freight shipments and second busiest for international passengers; MIA offers more service to Latin America and the Caribbean than any other airport in the U.S. 

(Miami International Airport)

Foreign-owned companies employed 417,000 Floridians in 2021, the fifth highest in the nation and first in the Southeast. 

(SelectFlorida Research based on Bureau of Economic Analysis data)

Foreign-owned affiliates in Florida are estimated to have total holdings of Gross Property, Plant, and Equipment (PP&E) valued at $97.7 billion in 2021, ranking Florida ninth in the U.S. and second in the Southeast. 

(SelectFlorida Research based on Bureau of Economic Analysis data)

Miami was ranked as the number sixth U.S. city for foreign businesses in 2023 by The Financial Times-Nikkei with Orlando (#13) and Tampa (#27) represented in the top 30 cities nationally.

(Financial Times-Nikkei)

Florida welcomed a record total of 11.5 million international visitors in 2023, including 3.2 million Canadian travelers. 

(VISIT FLORIDA Research)

Florida was the number one most visited state in the U.S. by overseas visitors in 2022, accounting for 30% of the national total, excluding visitors from Canada and Mexico. 

(U.S. Department of Commerce, National Travel and Tourism Office)

The Miami and Orlando metropolitan statistical areas (MSAs) served as destinations for 17% and 12% of all overseas visitors to the U.S., in 2022. (U.S. Department of Commerce, National Travel and Tourism Office)

International visitors contribute to Florida’s tourism economy by spending, on average, $1,265 per trip, which amounted to $12.2 billion in expenditures 

in 2022. 

(VISIT FLORIDA, Economy Impact Study)

Florida ranks as the third largest U.S. state in the country with a population of 22.6 million in 2023, making it an attractive consumer market for both domestic and overseas producers and suppliers.
(U.S. Census Bureau)

The state also had the second fastest-growing population in the U.S. in 2023 by both percentage and numeric growth. 

(U.S. Census Bureau)

With a Gross Domestic Product of nearly $1.6 trillion in 2023, Florida is the fourth largest economy in the U.S. and would be the 14th largest economy globally if ranked as a country, similar in size to the economies of Mexico or Spain. 

(Bureau of Economic Analysis and the World Bank)

More than 6.7 million speakers of languages other than English call Florida home, representing 30% of the state population in 2023. 

(U.S. Census Bureau)

Florida has the second largest diplomatic hub in the U.S. with consulates from more than 85 countries, along with 70+ bi-national chambers of commerce, and more than 260 sister-city relationships. 

(The Beacon Council,  Florida Department of State, Office of International Affairs)

With an emphasis on Latin America in particular, Miami has the second highest concentration of international banks in the U.S. 

(The Beacon Council)

Florida ranks seventh in the U.S. and first in the southeast in international student enrollment, with 42,000+ international students in the 2022-2023 academic year contributing $1.4 billion to the state economy and supporting over 12,000 Florida jobs. 

(NAFSA; Institute of International Education)