From space launches to the Super Bowl, business migration to marquee events, Florida rose to the occasion in 2021.
What’s next? Below, we offer a glimpse of the headlines that are likely to Fuel Florida and Move Miami in 2022.
But first, let’s take a trip down memory lane to recap the biggest stories of the past year.
- Business & Wealth Migration: Nearly 1,000 people a day have moved to Florida during the pandemic, drawn to quality-of-life benefits, cost savings, job opportunities, and business-friendly policies. From Goldman Sachs and Blackstone, to Microsoft, ARK Investment Management and Starwood Capital, some of the biggest names in finance and tech are relocating and expanding to the Sunshine State – as the Wall Street Journal, Bloomberg News, and CNBC reported throughout the year – and more firms are on the way in 2022.
- Real Estate Revs Up: The influx of people and businesses into Florida is having an unmistakable impact on commercial and residential real estate across the state. Class A office demand is surging in places like Miami and Tampa as new-to-market companies snap up space, while residential sale and rental prices in many communities are rebounding faster than anyone predicted during the early days of the pandemic.
- The Capital of Capital: Miami Mayor Francis Suarez hasn’t missed an opportunity to brand the Magic City as the Capital of Capital, and his efforts are paying off. In Downtown Miami, assets under management doubled from $75 billion to $150 billion over the past five years and more growth is coming as financial firms like CI Financial, Apollo Global Management and Thoma Bravo settle into their new digs. At the same time, homegrown banks across the state are providing businesses with capital to expand, acquire new assets, and scale up.
- Tourism Takes Off (Again!): Florida’s tourism industry set records in 2019 before taking a pandemic breather in mid-2020. Fast-forward to 2021, and hotel room occupancy rates are once again among the highest in the country and airports are buzzing as international borders open up. Case in point: 164,000 passengers traveled through Miami International Airport on a single day last month – an all-time record for one of the nation’s busiest airports.
- Destinations (Re)Discovered: Florida’s newest residents, along with its surge of tourists, are breathing new life into neighborhoods across the state after a temporary drop in foot traffic in 2020. While people are gravitating toward familiar favorites like Key West and Orlando, 2021 has also seen new destinations pop up in Downtown West Palm Beach, Miami’s Coconut Grove, Downtown St. Petersburg, and Miami Beach’s Lincoln Road District.
What Florida Will Be Talking About In 2022
- Seeing (Michelin) Stars: Beginning next year, the vaunted Michelin Guide will publish its first-ever star ratings of Florida restaurants. Speculation is already underway as to which eateries could make the cut. While it’s anybody’s guess who might earn 1, 2, or even 3 of Michelin’s coveted stars, two things are certain: the brand value that comes with scoring stars has the potential to take a restaurant to the next level, and the inaugural guide will leave Florida residents and visitors buzzing in 2022.
- Tech Innovations: The rush of technology companies to Florida in 2020 and 2021 will begin to pay dividends in 2022, as the state’s newest companies bring their innovations to life. Fueling the fire are research and education programs – such as Miami-Dade College’s new Artificial Intelligence institute in Downtown Miami – that will put the state on themap as one of the world’s best places to advance a career in tech.
- Start Your Engines: The long-anticipated arrival of Formula One racing at Hard Rock Stadium next May will mark the launch of yet another international event in Florida, thrusting Miami into the ranks of F-1 host cities alongside Barcelona, Monaco and Sao Paolo. It just so happens that Hard Rock Stadium is also likely to be selected as a host venue for the 2026 World Cup, with that announcement expected in early 2022.
- Tampa Bay on the Rise: Tom Brady’s Super Bowl heroics may be the Cigar City’s most memorable moment from 2021, but there’s every reason to believe that Tampa Bay will outdo itself in 2022 – with or without another NFL championship. Investment is pouring into the city, with new-to-market companies opening offices and hiring up, new real estate development unfolding, and entire neighborhoods undergoing revitalization. Along with nearby Orlando, there’s reason to believe this part of the state will become Florida’s next megaregion.
- Attention Will be 2022’s Rarest Commodity: Prolonged stay-at-home periods during the pandemic have drove many people away from traditional methods of consuming static information on websites, blogs, even photos, and straight to the interactive short form video experience available on TikTok, Instagram (Reels), and YouTube (Shorts). “Snackable” video content will continue to dominate communications in 2022, something brands entering the Florida market cannot ignore. Media outlets ahead of the curve like The Washington Post, which has a resident TikTok expert on staff, and Buzzfeed, whuch hired Gen-Zers to cover the recent presidential election via TikTok, embraced short form video content early on, allowing them to reach an entirely new generation. With the rise of the metaverse, augmented reality, social media e-commerce, and a new era of content creators, expect more video content from companies expanding their social media footprint in 2022.
To our clients, friends, and neighbors, thank you for your partnership and friendship.
Here’s to another prosperous year in 2022. From our family to yours, Happy New Year!