Known for its warm climate, beautiful beaches, and diverse culture, Miami is an attractive destination not only for tourists but also for investors. Investment opportunities in this city are often varied and promising. In this article, we’ll explore three booming industries to invest in Miami: real estate development, health and wellness, tourism, and hospitality. These industries offer great opportunities for those looking to invest in a city that is constantly growing and evolving.
Real Estate Industry in Miami
Did you know that Miami is considered the third most important city in the U.S. for international real estate investment , only surpassed by New York and Los Angeles? Here’s why:
Population Growth: Miami has experienced continuous population growth in recent years. The population of the Miami metropolitan area grew at an annual rate of 0.96% and reached approximately 6.2 million inhabitants in 2024, according to data from World Population Review. This steady growth drives demand for homes and commercial properties, creating a favorable environment for real estate investment.
Rising Property Values: The average residential property value in Miami has seen a significant increase of 5.8% in the past year, reflecting the strong demand and attractiveness of Miami’s real estate market to domestic and international investors, according to recent statistics.
International Investments: Miami’s real estate market is a magnet for international investors. In 2022, 39% of real estate purchases in the Miami-Dade area were made by international buyers, primarily from Latin America and Europe, according to the National Association of Realtors (NAR). This underscores the overall confidence in the city’s real estate market.
In addition, landmark projects such as the $4 billion Miami Worldcenter and the $1.05 billion Brickell City Centre are transforming Miami’s streetscape. These developments not only provide luxury housing but also commercial spaces, offices, and entertainment options, making Miami an attractive destination to live and work.
Health Wellness Industry in Miami
The fitness and wellness industry in Miami is booming, with an annual growth of 6.5% since 2018, according to IBISWorld. In fact, Miami is one of the top destinations in the U.S. for wellness retreats and detox programs, with more than 30 specialty centers in the region.
Wellness spending: Miami residents are willing to invest in their wellness. According to the Global Wellness Institute, Miamians spend an average of 25% more on wellness products and services than the national average.
Franchise Expansion: Fitness and wellness franchises are thriving in Miami. Brands such as Orangetheory Fitness and Pure Barre have recorded annual membership growth of 12% and 15%, respectively, showing the growing demand in this sector.
Mental health and yoga: Mental wellness is also gaining traction. A Yoga Alliance study showed a 10% annual increase in the opening of new yoga studios in Miami between 2019 and 2023, highlighting the popularity of these practices.
Tourism and hospitality industry in Miami
Miami is home to more than 100 boutique hotels, more than any other city in the U.S., offering unique and personalized experiences that appeal to high-net-worth tourists. According to Visit Florida, the city received more than 24.2 million visitors in 2022, generating tourism revenue of more than $18.6 billion.
Hotel Occupancy: Miami’s hotel industry is robust. The Greater Miami Convention Visitors Bureau reports that the hotel occupancy rate in Miami was 75% in 2022, with an average daily rate of $242, indicating a strong performance in this sector.
Cruise Industry: The Port of Miami is known as the “Cruise Capital of the World.” In 2022, it handled more than 5.5 million cruise passengers, cementing its position as the world’s busiest cruise port, which is a clear indication of the sector’s dynamism.
Events and Festivals: Miami hosts world-renowned events such as Art Basel Miami Beach, the Miami International Boat Show , and the South Beach Wine Food Festival. These events attract hundreds of thousands of visitors each year, further boosting the hospitality industry and creating opportunities for investors.
Lionel Messi’s impact on the market
The arrival of Lionel Messi in Miami has generated a significant impact on various sectors of the city, especially in the real estate market and tourism. Messi, considered one of the best footballers in the world, has not only raised the profile of Inter Miami CF, but has also fueled a surge of interest and economic activity in the region. Since his arrival, Miami has experienced an unprecedented increase in tourism and demand for properties.
Inter Miami’s matches have seen a considerable increase in ticket sales, with prices ranging from $265 to an impressive $110,000 per seat. This increase in attendance at matches has benefited restaurants, hotels and other local businesses, boosting tourism spending, creating additional jobs, and encouraging business owners and entrepreneurs to invest in Miami.
*Data as of the date of publication of this article
*Values expressed in US dollars
Miami’s real estate market has been one of the biggest beneficiaries. Messi’s presence has attracted more international investors, particularly from Latin America, interested in acquiring property in the city. Demand for short-term rentals has also increased, as many wish to capitalize on the steady stream of tourists visiting Miami to watch Messi play. Properties in areas such as Sunny Isles, where Messi owns several properties, have also seen an increase in value and demand. Did you imagine it?
Find the industry that best fits your profile
Investing in Miami offers a wide range of opportunities in dynamic and growing sectors such as real estate development, health and wellness, and tourism and hospitality. These industries are supported by strong growth data and steady demand, making them attractive options for investors.
If you are interested in exploring these industries or would like to discuss other investment opportunities, please contact Interlink FBC. Our team of advisors is ready to help you make informed and successful decisions.
Contact us today to find your next investment in Miami!
