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ADDITIONAL DEMOGRAPHICS<br />
According to Modern Luxury- “The Luxury Consumer,” the average luxury household income in Miami<br />
is $372,800. Seventy percent of them hold college degrees and 26% have post-grad degrees.<br />
Direct Economic Impact of overnight visitors to Miami is estimated by a monthly profile study or visitor-reported<br />
spending. $18.8 billion in direct expenditures was generated in 2010 in Miami, and if the industry<br />
accepted a multiplier of 1.5, the economy of Greater Miami expenditures would exceed $28.2 billion through<br />
the direct and indirect impact.<br />
In 2010, the visitor industry showed improvement with a 5.6% increase in overnight visitors in to Miami.<br />
An estimated 12.6 million visitors stayed at least one night in Miami. The most popular visitors to Miami<br />
ages ranged from 35-54.<br />
Tourist-wise, the weather and cultural attractions like Art Basel attract visitors to Miami. According to<br />
the source Synovate, a graph states that domestic visitors ‘definitely’ or would ‘very likely return.’ Specifically,<br />
the return rate is set at 96.1% -- a consistent range of return percentage from 2006-2010. International visitors<br />
in 2010 stated most were ‘likely to return,’ at a 97.5% return rate. Canada, Brazil, Argentina, Columbia, Germany,<br />
and Venezuela are the countries with the most popular international visitors to Miami.<br />
The overall total amount of foreign visitors increased from 6.6% from 2009 - 2010. International travelerS<br />
on average spent $121.1 billion in Miami in 2009. Miami is the second most popular city to visit by international<br />
visitors (Greater Miami Conventions and Visitor’s Bureau Annual Report, 2010).
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