“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.
For many decades, the month of June has been recognized around the world as a celebration of the gay community, and the importance of protecting the rights of gay, lesbian, bisexual, and transgender people. Miami (and Miami Beach, in particular) has traditionally been a popular, safe, and welcoming destination for gay citizens and travelers, and their economic impact on our region is a major pillar of South Florida’s growth and success. Let’s take a closer look at that impact in this Pride Month edition of “South Florida by the numbers.”
$7 billion: Estimated purchasing power of the LGBT community in Miami, according to the Miami-Dade Gay and Lesbian Chamber of Commerce, the largest not-for-profit organization in the county for gay and lesbian businesses. [gaybizmiami]
$1.2 billion: Impact of LGBT travel in Miami-Dade County, according to the Greater Miami Convention and Visitors Bureau. Miami-Dade has advertised to LGBT travelers for more than two decades, giving it a strong head start against competing cities and regions. [FloridaTrend]
38: Number of chapters in the Jupiter-based National Association of Gay & Lesbian Real Estate Professionals. The 750-member NAGLREP will hold its annual October conference in Ft. Lauderdale. [MiamiHerald]
$182 million: Estimated economic impact of same-sex marriages in Florida over three years, according to the Williams Institute at the University of California – Los Angeles School of Law. The report looked at spending by same-sex couples in other states, as well as wedding expenditure and tourism data from Florida. [NBCMiami]
$94,000: Median household income of same-sex couples with both partners in the labor force — about $8,000 higher than heterosexual couples. [miamibeachgaypride.com]
This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior.