“South Florida by the numbers” is a web feature that catalogues the most notable, quirky and surprising real estate statistics.
Hundreds of thousands of visitors from across the globe will arrive in Miami-Dade, Broward, and Palm Beach counties over the next few weeks as the FIFA World Cup transforms the region into an international stage. While much of the attention will focus on the action inside Hard Rock Stadium, temporarily renamed “Miami Stadium,” the tournament’s impact will extend far beyond the pitch.
Real estate pros are already capitalizing on the increased global exposure for South Florida’s lifestyle, luxury housing market and investment opportunities. Hotels, restaurants, airports, transportation systems and short-term rental operators are experiencing surges in activity. For many international visitors, the tournament serves not only as a sporting spectacle, but also as a firsthand introduction to a region that has become one of the world’s most desirable places to live.
Will the World Cup’s economic impact end with the final whistle, or leave a lasting imprint after the trophy is lifted? We take a closer look in this edition of South Florida by the Numbers.
600,000 to 1 million
Expected number of visitors to the region during the tournament. Local officials project an economic impact nearly three times larger than the boost generated by Super Bowl LIV. Real estate developers are particularly targeting buyers from Brazil, Colombia, Argentina and Mexico, employing the same strategies and tactics used during past international events such as Art Basel and the Miami Grand Prix.
$1.3 Billion
Estimated financial impact of the tournament in South Florida, according to FIFA. Many developers report increased activity in the weeks leading up to the World Cup’s official start, including themed parties, watch parties, and other promotions.
200 percent
Expected increase in Broward County’s hotel room rates during peak World Cup periods. Visit Lauderdale projects tournament-related spending on lodging, dining, transportation and entertainment (as well as related indirect and induced economic activity) to generate between $150 million and $175 million for greater Ft. Lauderdale alone, demonstrating the truly regional impact of the event.
$384 Million
Estimated economic impact of World Cup guests using accommodations booked through the platform, according to a Deloitte report commissioned by Airbnb. The short-term-rental app estimated that one in six guests expected to visit Miami during the tournament will be first-time users of the platform.
9,000
Number of local jobs the games are expected to create, according to the World Cup Host Committee.
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.