Florida’s Sports Industry Provides $146.5 Billion in Economic Impact
The Florida Sports Foundation announced its recently commissioned study found the total economic impact of the sports industry on Florida’s economy amounted to $146.5 billion in Fiscal Years 2019-20 and 2020-21.
CLICK HERE for the direct link to the full $146.5 Billion Economic Impact Study.
The report, conducted by the independent research firm Tourism Economics, also showed that the billions injected into the economy by sports supported 978,200 part-time and full-time jobs on an annual basis and generated $13.9 billion in state and local taxes.
“We applaud the Governor for the extensive steps he has taken to ensure Florida has remained open for sports throughout his administration,” said Angela Suggs, President and CEO of the Florida Sports Foundation. “The findings of this report show the wisdom of the Governor’s strategy to prioritize access to golf courses, beaches, hiking trails and other recreational venues.”
Amateur and leisure activities were the largest contributors to Florida’s sports economy over the course of the study. This category, which includes golf, hunting, fishing, and other recreational activities, accounted for $113.6 billion in total economic impact. Within the amateur and leisure activities category, golf was the largest contributor, generating $44.2 billion in impact.
Other highlights of the report include:
- Florida’s sports industry accounted for nearly 28.1 million non-resident visitors to the state, representing 14 percent of all Florida tourism.
- Professional sports accounted for $10.2 billion in economic impact, while college athletics contributed $5.5 billion in impact.
- The efforts of the state’s 36 sports commissions, supported by the Florida Sports Foundation, generated $24.9 billion in total economic impact.
About the Florida Sports Foundation
The Florida Sports Foundation, a 501(C) 3 non-profit corporation, is the official sports promotion and development organization for the State of Florida. It is charged with the promotion and development of professional, amateur, recreational sports, and physical fitness opportunities that produce a thriving Florida sports industry and environment. With a seemingly endless list of sporting ventures and venues, the Florida Sports Foundation strives to promote Florida’s unique sports industry. The Foundation’s staff is dedicated to serving the needs and interests of Florida’s sports community and assists with all questions concerning Florida sporting activities and issues.
To create the thriving sports industry and environment, the Florida Sports Foundation:
- Provides grants to support sporting events that bring out-of-state visitors to Florida;
- Produces and distributes annual golf, fishing and boating, and baseball spring training guides for both in-state and out-of-state tourists; and
- Organizes the annual Sunshine State Games, an Olympic-style festival for Floridians of all ages, and the Florida Senior Games State Championships for senior athletes, age 50 and over.
About Tourism Economics
Tourism Economics is an Oxford Economics company with a singular objective: combine an understanding of the travel sector with proven economic tools to answer the most important questions facing our clients. More than 500 companies, associations, and destination work with Tourism Economics every year as a research partner. We bring decades of experience to every engagement to help our clients make better marketing, investment, and policy decisions. Our team of highly-specialized economists deliver:
- Global travel data-sets with the broadest set of country, city, and state coverage available.
- Travel forecasts that are directly linked to the economic and demographic outlook for origins and destinations
- Policy analysis that informs critical funding, taxation, and travel facilitation decisions
- Market assessments that define market allocation and investment decisions.