A recent report from WalletHub looked at the impact coronavirus is having on each state’s tourism industry and Florida’s is one of the hardest hit. The Sunshine State has the sixth hardest hit tourism industry across the U.S. Only Hawaii, Montana, Nevada, Vermont and Massachusetts’ tourism industries have been hit harder.
Those rankings are based on two factors: State’s dependency on tourism: Total share of businesses in tourism-related industries, tourism consumer spending per capita and the number of workers in a tourism-related industry
State aggressiveness: Mandatory quarantines and stay-at-home orders
Florida ranked No. 4 for state dependency behind only Hawaii, Nevada and Montana. From Walt Disney World, SeaWorld and other attractions in Orlando to the beaches in St. Petersburg and Clearwater and cruise lines sailing out of Tampa and Miami, tourism is a major industry for the state.
Other rankings for Florida include:
Third in share of travel and tourism industry generated GDP
Seventh in share of employment in travel-and tourism-related industries
Fourth in default probability on loans for businesses in travel and tourism industry
First in travel and tourism consumer spending per capita
20th in share of consumer expenditures on travel