PortMiami's economic impact has surged to $61.4 billion, according to a recent study by Martin Associates. This marks a significant increase from the $41.4 billion recorded in 2016. The number of jobs supported by the seaport's cruise and cargo activities has also risen to 340,078 from 334,500.
The study employed the same methodology used in 2016 to assess PortMiami's impact on jobs, business revenue, consumer spending, and state and local taxes.
"PortMiami is not only one of Miami-Dade County’s most important economic engines, its economic impact is also felt regionally and globally," stated Miami-Dade County Mayor Daniella Levine Cava. "This report confirms the seaport’s vital role in supporting good-paying local jobs and contributing to the growth of our community, in addition to our commitment to resilience and reducing our carbon footprint with shore power and our net zero plan."
The analysis was based on data gathered through interviews and telephone surveys with tenants at the seaport as well as firms providing cruise and cargo services at PortMiami. Additionally, surveys were conducted with cruise passengers and vessel crew members to develop profiles of passenger spending before and after cruises as well as crew spending during port calls.
"The seaport continues to play a critical role in the economic vitality of our region. We will continue to invest in our infrastructure to ensure that PortMiami remains a world-class cruise and cargo port," said Hydi Webb, Director and CEO of PortMiami. "I want to thank all the seaport’s partners for their unrelenting support. Our continued growth and success are a result of strong collaborations."
PortMiami is known as both the Cruise Capital of the World and Cargo Gateway of the Americas. It operates as a landlord port partnering with 23 cruise line companies including Carnival Corporation, Royal Caribbean Group, MSC Cruises, Norwegian Cruise Line, and Virgin Voyages; along with three cargo terminal operators: Port of Miami Terminal Operating Company, Seaboard Marine, and South Florida Container Terminal.