The Back-to-Normal index created by CNN and Moody's Analytics, which looks at unemployment rates, unemployment claims, consumer spending and consumer behavior, points out that Florida's economy is 101 percent stronger than before the pandemic.

Many actions were taken by the Florida government so that the impact of the pandemic would be as small as possible on the state's economy.

Mainly because economic growth rates continued to rise steadily.

But what provides this strength to the state? Why is Florida an anti-crisis state?

We will answer that question by showing you factors that make Florida one of the best places in the world to invest.

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Why should you invest in Florida?

1 - Large companies are migrating to Florida.

Florida becomes the preferred state for companies working in banking and financial services.

Proof of this is hedge fund firm Elliott Management moving its headquarters to West Palm Beach, private equity firm Blackstone's plans to open a branch in Miami and Goldman Sachs planning to allocate its asset management division in the state.

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Another important economic sector growing in Florida is technology.

Microsoft is preparing its Brickell office in Miami to be the base for its Latin America team.

Just as Red 6, the company creating Airborne Tactical Augmented Reality Systems, which uses augmented reality technology to allow pilots to see threats during flight, has moved its corporate headquarters from California to downtown Miami and established a new technology centre in Orlando.

Software company Civix has opened its new office in Orlando.

Adding to these companies are Blockchain.com, a cryptocurrency company, House of Wise, a CBD brand aimed at women, Novo, a digital banking platform for businesses and OpenStore, a platform that buys e-commerce companies.

They all migrated to Florida from other parts of the United States.

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2 - Increase in the average salary.

The more companies open offices in Florida, the more the Florida job market grows.

The result is that job vacancies return to pre-pandemic levels and the number of unemployed falls, while average wages rise.

The rate of job growth is high throughout the state, so that all metropolitan regions have an abundance of new vacancies in virtually all areas.

And it's not just finance and technology professionals who are benefiting from Florida's growing economy.

Professionals in the service sector, a strong market in Florida due to the state being a powerful tourist hub, are also seeing improvements in remuneration conditions.

The state is increasing its minimum wage from $1o to $15 an hour by 2026.

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3 - Large population growth.

The cities of Florida do not stop growing and according to a survey carried out by Forbes magazine, six of the ten fastest growing cities in the United States are in this state, Orlando being the second in the ranking.

It is expected that by the year 2024 Florida will have an increase of about 900 new residents each day, which represents a population increase rate of 1.53% per year.

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This way, the forecast is that only in the next two years the state will have an increase of more than 700,000 new inhabitants.

It is worth noting that this increase is due to the migration of people coming from other states and other countries.

The rise of remote working has made it easier for workers to move independently of their employers, which has further enhanced these changes.

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4 - Florida has a business-friendly environment.

Although business migration to Florida accelerated during the pandemic, this was already a well-established trend prior to COVID.

This strong economic scenario is due to the intense work of the State government in making the region attractive to investors and generating jobs with higher salaries such as in IT, medicine and engineering.

The current government supports the creation and growth of companies on its territory.

For you to understand the productive potential of the state, know that the annual GDP is more than U$ 1.1 trillion and has had a growth of more than 50% in the last ten years.

Florida is famous for having no personal income tax, thus attracting people interested in no longer paying high taxes in non-business-friendly states.

An example of a non-business-friendly state is New York, which has announced plans to raise rates for its wealthiest residents.

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5 - The power of the property market.

Florida's economy is structured on several powerful pillars, but one that stands out for its security and profitability is the real estate market.

Even in the face of the biggest pandemic of the century, which impacted the world economy and brought many markets to a standstill, business involving real estate in Florida grew by more than 20%.

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As the market is hot, many Americans are not finding the ideal property and as many of them are coming from other states, while waiting for their dream home, they are renting houses.

The detail is that the housing rental market is also heated, in view of the great demand, which has caused the price of renting to rise.

So it has been common for tenants in Florida to offer hundreds of dollars more than the landlord is asking or even pay an entire year's rent up front to get the lease.

Excellent setting for those with residential homes.

It is also an excellent time to invest in commercial real estate as it generates the right investment opportunity, creative and agile loan structures, and great interest from banks in crediting this type of financing.

We can highlight high quality assets in categories such as hotel and hospitality, warehouse, distribution and logistics, and numerous retail properties.

Not to mention the powerful market of holiday homes, which, by providing more privacy, keeping the family closer during the trips and being a way to save money, is the choice of many people as accommodation during their holidays in Orlando, instead of staying in hotels.

This is an industry so strong that it generates US $27 billion a year for Florida's public coffers.

And that even during the pandemic, it remained heated in the face of the more flexible Coronavirus policies imposed by the state government and with the advance of vaccination has been breaking record numbers.

Everyone wants to holiday in Florida, especially after being unable to travel for so long.

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Investing in residential homes, holiday homes and commercial real estate is one of the best ways for foreigners who want to have financial assets in dollars.

Selecta Realty is a company with a global market vision and vast experience in connecting people from all over the world to the best investment opportunities in the Florida real estate market.

Contact us and invest in a profitable and crisis-resistant market.

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