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Florida is on the hook to lose 3.36% of its GDP this year due to the lack of European tourists, according to a new report from WalletHub.
The dearth of tourists stems from an active list the U.S. has in place restricting entry from more than 30 European countries. That list includes Austria, Belgium, France, Germany, Greece, Switzerland and the United Kingdom. While European tourism is a big draw for many regions in Florida, the Gulf Coast is especially big for people coming from Germany and England.
With a projected 3.36% loss in GDP and an impact score of 35.16 out of 100, the Sunshine State is No. 4 nationally among all states and Washington, D.C. looking at a looming tourism shortfall. Florida is one spot below New York and one spot ahead of Hawaii on the list.
In its analysis, WalletHub calculated the potential monetary losses for each state based on the number of inbound tourists to each state alongside the state’s total spending. It compared the result to each state’s GDP.
While European visitors to Florida are on the sidelines, several regions in the state are enjoying a tourism rebound. Visit Tampa Bay, for example, recently announced tourist development tax collections topped the $4 million mark in May, the highest ever collected for that month and 22% over 2019. Collier and Sarasota counties have also posted strong rebound numbers.
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