Resorts to open in downtown Miami promise tourism boost.
2011 was a record year for Miami tourism, with Miami-Dade employing more workers than it did before the recession and hotel revenues increasing 14 percent this year. In fact, taxes at these hotels, up 29 percent, have erased the losses from the recession. Tourism is doing so well that some are wondering if Genting’s planned mega casino is even necessary, according to a recent article in the Miami Herald.
Talks of casino developments opening in Florida, specifically Miami-Dade and Broward counties, were first announced in September of last year with Malaysian developer, Genting Group, at the helm of what they hope to be Resorts World Miami.
The mixed-use residential and resort property is poised to create 15,000 construction jobs, 30,000 permanent positions, as well as increase the tax base for the city, county and state according to KT Lim, chairman and chief executive of Genting. Genting’s resort would be the largest casino in the world at 550,000 square feet, with gambling space and hotel accommodations far beyond anything offered in Las Vegas.
Genting estimates its 5,200-room Resorts World Miami would employ 19,000 people making it Miami-Dade’s largest private employer. Under current conditions, that many jobs would shrink the county’s unemployment rate from 10.2 percent to 8.8 percent.
Despite the influx of employment opportunities and millions of dollars of tourist income the resort would generate, local residents and legislators are skeptical that the new jobs won’t make up for restaurants and hotels that may be put out of business due to the size of the proposed resorts. Large enough to double the downtown’s current hotel inventory, the casinos would likely bring down rates across the area.
Critics point to Miami’s already strong popularity with tourists and warn that expanded gambling could spoil the city’s image as a chic playground, as stated in the Miami Herald. Walt Disney World is funding much of the opposition to the mega casino, with its advocates warning more gambling would tarnish Florida’s appeal as a family vacation spot.
Does anybody really believe that we are receiving too much tourism in Miami. It is without a doubt the most ridiculous, fabricated construct I’ve heard lately. Miami is suffering under the throws of a horrible situation where money was virtually stolen from home and business owners. I know home sales are improving but that’s because they’ve been hugely devaluated and for a great part, being scarfed up by foreign buyers. The ONLY hope for our future here is to PASS the resort bill as this will infuse enough foreign money into the general economy to “lift all boats”.