Are you considering moving to America and securing your Green Card and US passport, to set up a secure future for your family? As an entrepreneur, you may be wondering where businesses are prominently positioned and which areas would be best for your company. Look no further than South Florida.
Here are some stats and interesting facts from The Miami Annual Report – 2023 published by ISG World.
An attractive Green Card Program destination
South Florida presents an enticing prospect for South Africans looking to secure their Green Card and US passport. For South Africans, the transition can be a wonderful blend of familiarity and exciting novelty. The subtropical climate mirrors South Africa’s weather, making it a comfortable transition. But beyond the sunshine and sandy beaches, there are several benefits that make the move even more appealing.
What makes Miami a global city? Economically, Florida has more jobs than New York, for the first time ever! The burgeoning market offers numerous opportunities for both employment and entrepreneurial ventures.
Thanks to the favourable Florida tax laws, the recent influx of Miami jobs and Florida businesses has bolstered the economy. In turn, this influx has created a wealth of job prospects. For those with entrepreneurial aspirations, the supportive start-up scene offers a nurturing environment for new businesses. Job opportunities in South Florida are no longer few and far between.
And after seven years in second place, Miami International Airport has passed Orlando as the busiest airport in Florida
In terms of lifestyle, South Florida has a plethora of outdoor activities, from water sports to hiking in the Everglades, that would resonate with South Africans’ love for the outdoors. Not to mention the thriving art scene, food festivals, and sports events that provide a well-rounded, dynamic lifestyle.
Your Green Card status will also open you up to a world of first-rate education system offers some of the best schools in South Florida, with a host of reputable public and private schools as well as renowned universities, so for families relocating, this access to quality education can be a significant draw.
Population growth in South Florida
South Florida has always been a desired destination for people seeking sun, sea, and the allure of an upscale lifestyle. In the last decade, we have seen a transformation in the demographics, especially with the introduction of Florida’s favourable tax laws for individuals and businesses. The Miami Annual Report – 2023 published by ISG World provides insightful data underscoring the magnitude of this shift in Florida immigration.
The report shows that 2022 was a monumental year with the population growth in South Florida. It also shows the benefits of living in South Florida with a staggering influx of businesses and people. Outpacing Texas, Florida gained an average of 1,217 people per day, making it the fastest-growing state in terms of population.
The report shows that in 2022, Florida’s population growth was evenly divided between South Florida and the rest of the state. Each area accounted for 50% of the growth. South Florida alone welcomed around 600 people per day, contributing to a total increase of approximately 219,000 individuals throughout the year. These figures not only demonstrate the state’s overall attractiveness but highlight the particular appeal of South Florida.
Relocation to Florida
What is interesting to note is where this growth is coming from. Traditionally, states like California and New York have been the powerhouses of business and wealth. Yet, they experienced the highest loss in population in 2022 – California losing 940 people per day and New York, 820. The tides have turned, with more businesses migrating from these states to Florida, making it an emerging economic epicentre.
Let’s dive deeper into South Florida and the shift we are seeing in Miami real estate. The Florida condo buyer profile in Miami-Dade, Broward, and Palm Beach Counties.
In 2012, the buyer profile was dominated by Latin America, accounting for 49% of purchases, while US/domestic buyers represented 21%. Now let’s fast forward to 2022, we have seen the tables have turned. US/Domestic buyers now lead the way with 49% of the purchases, while Latin America represents 23%.
This change shows that South Florida has transformed significantly. South Florida is more than just an international resort and retirement destination. It is a thriving locale attracting domestic buyers from other states and a prime Green Card location to invest in.
The attraction of this Green Card destination
We look into what is driving this shift. A combination of favourable tax laws, attractive climate, the pull of a vibrant culture, and the promise of an envious lifestyle.
This change tells a compelling story of the evolution of the American dream, which seems to be sun-kissed and salt-sprayed in the heart of South Florida. With more domestic businesses and buyers choosing Florida as their home, it’s evident that they are searching for more than just fiscal benefits. They seek a balance between life and work, prosperity and relaxation, growth and sustainability. This life will be part of what you and your family could experience as a Green Card holder. Through the EB-5 Investor Program, you can easily travel, work, study or live anywhere in America – why not South Florida?
To sum up, the Miami Annual Report – 2023 paints an intriguing picture of Florida’s growth, particularly the rising star of South Florida. This trend does not appear to be a fleeting phenomenon, but rather a new phase of evolution, a testament to the state’s ability to reinvent and revitalise itself continuously.
For anyone considering the EB-5 Investor Program and looking to safeguard their Green Card and US Passport will find Florida a great fit. Whether you are starting a business in Florida, looking to secure your children’s future in a top education institution or wanting to create a safe and vibrant lifestyle for your family; the South Florida lifestyle is indisputably worth considering.
