There’s more balance in the world than you think, at least when it comes to real estate dynamics. Yes, there is a fear that China will buy less and invest less in the U.S. due to recent trade wars and political conversations, but that situation has also opened up room for other countries to show up and create economic opportunities as China’s competition is less of a barrier. Many affluent European countries want in on making investments in U.S. real estate, as it is becoming a much less volatile investment than stocks in today’s climate.
Want another unique stat / indicator to look at when considering the strength of the economy? Major corporate airline flights were up 11% in the first week of 2019, per United, at a time when that’s not normal as a new year begins. This could be a good indicator for the health of the economy because business executives are on the road spending travel budgets looking for new opportunities to make deals happen.
Take that one step closer to home and now consider why Florida’s economic strength is a low risk for recession. Florida, a low-tax state, is expected to benefit greatly from recent federal tax bills that may cause wealth to move from higher tax states around the U.S.
Now, the threats to Florida’s economy include a potential trade war, the expansion of tariffs and slowing growth in other economies. However, experts say those can be mitigated by diversifying Florida’s economy, attracting and retaining a talented workforce, and bringing in new business and innovation. All of which are things currently happening in the Tampa Bay area and around the rest of the state!
Florida’s economy as measured by GDP surpassed the $1 trillion mark this summer, making it the 17th largest economy in the world. Here are more metrics to keep you up to speed on Florida’s scorecard and economic metrics: https://thefloridascorecard.org/
Now, let’s get down to our local level and you see that Tampa is creating something new! We are a confident region with major potential that still has not been tapped to its fullest. We are leaving behind the notion of a retirement community (even though it’s still a great place to retire) and we are elevating this area to become a global city leading the way with innovation, sustainability, revitalized urban core dynamics, youthful job energy, technology advancements and tolerance for all people.
Read up on this report that explains it much better!
Call Fortress CRE, so we can talk expert advice on where your real estate strategy should be focused in West Central Florida. Fortress Commercial Real Estate (CRE) adds value to business owners looking to grow through their real estate, office and building needs.
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