Despite scientists' warnings about rising sea levels threatening Miami Beach, the city is witnessing a significant economic boom. Attracted by low taxes, a supportive business environment, and warm climate, entrepreneurs and wealthy individuals are flocking to Florida. The state's economy has grown nearly 22% between 2019 and 2024, significantly outpacing the national growth rate. Affluent buyers are pouring into the real estate market, as evidenced by record sales. Leaders like Mayor Suarez are actively seeking foreign investment, further enhancing the city's appeal as a business hub while maintaining its unique tax strategies.
Scientists have long warned that parts of Miami Beach could be submerged by rising sea levels by the middle of this century, threatening thousands of properties.
Yet, against the odds, the Florida city is enjoying a boom. Businesses, entrepreneurs and billionaires are flocking to the Sunshine State, drawn by its pro-growth ethos.
Florida's economy expanded by nearly 22 per cent between 2019 and early 2024-twice the national rate-with an influx of new residents boosting its population growth.
Ken Griffin, the billionaire founder of Citadel, shifted his hedge fund from Chicago to Miami, spending a record $107 million on a four-acre estate.
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