01-05-2025
Florida must stop its war on tourism. It could hurt jobs and communities.
The Florida House of Representatives has advanced two bills, HB 1221 and HB 7033, that threaten to dismantle the very foundation of Florida's economic powerhouse: the tourism industry. These bills propose significant changes to the state's highly successful Tourist Development Tax (TDT), redirecting its funds from destination promotion to property tax credits. The result would be a devastating blow to local businesses, jobs and communities that rely on tourism to thrive.
Tourism is the lifeblood of Florida's economy. The TDT, paid by visitors and not by Floridians, is reinvested in destination promotion efforts that attract even more visitors. This cycle generates jobs, fuels local businesses and supports critical public services. Eliminating TDT funding for this purpose would severely hinder our ability to compete for visitors, leading to long-term economic pain.
Additionally, reallocating these dollars to provide property tax relief to property owners diminishes the importance of tourism marketing and promotion across the state. With millions of residential and commercial properties in Florida, a reduction of property taxes amounts to a negligible benefit for individual property owners. In contrast, every Florida household is currently saved $1,910 in taxes per year since tourism is one of the reasons why the Sunshine State remains state tax-free.
Tourism in Florida is powerful. Millions of visitors support the livelihoods of countless people across the state. Visitors generate billions in direct spending and contribute significantly to the local economy. Tourism connects communities and creates places where people want to visit, live, work and invest.
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If these changes to TDT become law, Florida will lose not only the revenue generated by tourism but also the jobs, beach renovations and much more funded by it. The long-term economic damage will be felt across the state as the tourism industry, a key pillar of Florida's economy, loses its ability to thrive. This is a statewide issue that's important to every tourism destination in Florida, including Palm Beach County, where more than 9.9 million visitors in 2024 supported the livelihoods of approximately 90,000 people.
Milton Segarra is president and CEO of Discover The Palm Beaches.
This article originally appeared on Palm Beach Post: Florida tourism is vital to our economy. Don't stifle it | Opinion
