Published: Thursday, February 17, 2011 at 1:00 a.m.
Last Modified: Wednesday, February 16, 2011 at 10:30 p.m.
“Bolstered by gradual economic recovery and new attractions, tourism rebounded in Florida last year by 2.1 percent, the state’s visitor agency reported Wednesday.
The upswing — reversing a two-year decline — came despite economic malaise in the early part of 2010 and the massive BP spill that began in April in the Gulf of Mexico, an environmental disaster that spewed hundreds of millions of gallons of oil into state waters.”
“Persistently high unemployment constrains demand and feeds into the ongoing foreclosure problem,” said Sean Snaith, an economist at the University of Central Florida. “Given the state of the labor market, a continuing decline of home and condo prices in the fourth quarter is not surprising or unexpected. However, it’s important to note the rate of price decline is decelerating.”