Florida's Economy, One Of The Largest In The World

Florida's economy is one of the largest in the world. As for South Florida, we're the largest economy in the state.

Fresh off of the announcement from the Florida Chamber Foundation, Florida's economy reached the $1 trillion-mark. These impressive comparisons were quickly made by pointing out that Florida's economy is the 17th largest in the world. Meaning Florida is ahead of many developed countries. As impressive as that seems and is, we're actually still just 4th in the US in state GDP. 

New York is ahead of us at #3 with $1.6 trillion. Texas is second at over $1.7 trillion and California's economy is by far the largest at about $2.8 trillion. All that being said, let's look at the tri-county South Florida economy. Not surprisingly the top economies by county within our state are Miami-Dade at #1, Broward at #2 and coming in at #3 Palm Beach. Orange County is currently fourth. 

To put South Florida's tri-county economic powerhouse in perspective our current estimated $350 billion economy places us inside of the top 50 in the world. On par with Israel and ahead of countries like Ireland and Singapore. It's weird to think of our economy that way but we've earned it. What more is that with an economic growth rate averaging over 3% for the past year and this decade, South Florida compared to under 1% worldwide. There's every indication that we'll be poised to pass other countries on our way to potentially being a top 30 economy by the time the next Census is counted.  

In other words, South Florida's economy isn't just good, it's literally world-class. 

Photo by; Getty Images

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