Florida’s rise as a magnet for wealth, business and culture shows no signs of slowing.
From luxury yachts to fine dining and world-class real estate, the Sunshine State’s blend of open economic policies, no state income tax and year-round sunshine continues to lure both entrepreneurs and investors — and top leaders say it’s only the beginning.
"What we see is that more and more people are looking for this lifestyle, and when you cater to the demand, you're usually very successful," Naftali Group Chairman and CEO Miki Naftali told Fox News Digital from the Fort Lauderdale International Boat Show earlier this month.
From 2019 to 2024, Florida’s real gross domestic product (GDP) rose more than 21%, about double the 11% real GDP growth the nation saw during that same time period, according to the governor’s office.
U.S. Bureau of Labor Statistics data also shows that Florida had a net gain of 503 business firms relocating to the state in 2023 — the highest of any U.S. state. That same year, the Florida Chamber of Commerce reported Florida’s net income migration was about $36.1 billion annually — roughly three times higher than the next-closest state, Texas.
The positive economic environment mixed with sunshine and coastlines continues to draw people and businesses to Fort Lauderdale and greater South Florida — not just to visit, but to build their lives and investments, the business leaders argue.
"I think the big shift is that it's becoming the primary residence for many, many people, and again, the entire package is here," Naftali said. "There's a lot of opportunities to walk here, some people are working remote. . . . A lot of companies [are] moving to South Florida. The tax structure here is absolutely favorable, the lifestyle. . . . People can feel very comfortable to have everything that they want here."
"I think that South Florida [will just] continue to grow, with more and more people, with more and more money that is being invested here," Naftali added. "For [home]buyers and investors, it's all about, where are the opportunities and do I have a lot of inventory to choose from? . . . The bottom line is, demand is here, demand will continue to grow here, and I think it's going to be a great story."
"I spend my time in South Florida, it's just unbelievable. . . . You know, it is almost a point that you feel the freedom here," Naftali reflected. "I'm very happy to be part, even if it's a small part, of the story of South Florida and the expansion."
"There is a special energy, and there is so much wealth that was kind of being created in the last few years, and people are just looking where to smartly spend money. And it's just great being here as part of the story."