Panama City bumps Miami for top rebound in tourism spending


New sales-tax figures have Miami-Dade’s strong tourism rebound slipping back to No. 2 on the Time Machine’s Economic Rebound Derby.

Miami-Dade’s tourism industry has lost its claim to Florida’s biggest economic comeback.

Tourism spending is up 21 percent in Miami-Dade since the recession, an impressive rebound by any count. And until recently, no other industry in the state was posting stronger growth. But the latest sales-tax data from Panama City put that destination at the top, with tourism spending up a whopping 26 percent. Miami-Dade’s tourism industry will have to be content with second place — for now.

The ranking doesn’t really matter, of course. But we at the Economic Time Machine made a fuss at Miami-Dade’s No. 1 status a few months ago, so we need to note the leader-change now.

[UPDATE: A reader wrote saying the ETM was not being fair to bump Miami-Dade down to the state’s No. 2 tourism rebound, given the different sizes of the two vacation markets. We’ll concede you can’t compare Miami-Dade’s tourism industry (about $775 million in spending a year) with Panama City ($85 million). But when keeping score post-recession, a rebound is a rebound.]

The figures come from Florida’s Office of Economic and Demographic Research, which breaks out monthly taxable-sales data into different industry categories. They offer a broad look at parts of the state doing well post-recession, and those industries that are still basically stuck in a depression.

Punta Gorda’s construction industry remains at the very bottom of the list, with construction spending down 64 percent from its past peak. That’s an astounding figure, but no construction industry has much to cheer about. Miami-Dade’s construction spending is down 48 percent, and Broward’s is down almost 40 percent. Both have encouraging trends underway, though.

Compared to last year, construction spending is up 6 percent in Broward and 7 percent in Miami-Dade.

The Miami Herald’s Economic Time Machine blog seeks to put South Florida’s recovery into historical perspective. We try to take the long view on economic stats. For analysis of the latest economic news, visit and look for our weekly chart on Page 3 of Business Monday.

Read more The Economic Time Machine stories from the Miami Herald

Miami Herald

Join the

The Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

The Miami Herald uses Facebook's commenting system. You need to log in with a Facebook account in order to comment. If you have questions about commenting with your Facebook account, click here.

Have a news tip? You can send it anonymously. Click here to send us your tip - or - consider joining the Public Insight Network and become a source for The Miami Herald and el Nuevo Herald.

Hide Comments

This affects comments on all stories.

Cancel OK

  • Marketplace

Today's Circulars

  • Quick Job Search

Enter Keyword(s) Enter City Select a State Select a Category