Published On: Thu, Aug 19th, 2021

Florida, the 10th largest economy of the world

Since announcing its Florida Project 2030, the state’s main planning guideline is economic growth, according to a study conducted by Florida Chamber of Commerce Foundation .

From the 17th largest economy in the world (if the state was measured as a country) will move to the 10th largest by 2030. According to data from the end of the first quarter, it is already the 15th world economic power.

It is worth watching the webinar that happened in July about the Florida 2030 Project presented by the Florida Chamber Foundation, coordinated by the principal of Florida Christian University, Bruno Portigliatti, with the sponsorship of the Oxford Group (watch here)- to the Brazilian community in Florida.

On the other hand, ending the family poverty cycle has been one of the goals of the Florida Chamber of Commerce for years. As well as raising education among the most emerging counties in the state of Florida and boosting diversity and inclusion in the workplace.

Reducing poverty levels, improving literacy levels, and progress in social equality may seem like secondary goals —even tertiary—when it comes to economic growth, but the more the Chamber engages and conducts studies on these issues, they have become part of the state’s success and future.

An extensive Florida City Council survey identified 10 underlying causes of chronic family poverty and found that educational and achievement opportunities vary wildly, from neighborhood to neighborhood, city to city, county to county. If  the gaps are not resolved, the state will have to make an extra effort to become the 10th biggest global economy by 2030.

Today, Florida has nearly 22 million habitants and that number is expected to grow to 26 million, or 4 million new inhabitants.

To prepare for this boom in the state and secure your 10th rank as the world’s largest economy, Floridian intellectuals and visionaries have once again come together to meet these challenges and have developed a long-term plan, a roadmap, for the issues our state must address to be a leader in the global economy, not just today, but in 2030 and beyond.

Take a look at the Foundation’s 6 Pillars framework below. See full description here

Improving Florida’s Talent Pipeline for a Better Workforce

Creating Good Jobs by Diversifying Florida’s Economy

Preparing Florida’s Infrastructure for Smart Growth and Development

Building the Perfect Climate for Business

Making Government and Civics More Efficient and Effective

Championing Florida’s Quality of Life

The current dynamics of Florida’s economy can be seen in several ways:

  • New jobs created in the last year: 358,300
  • Unemployment rate 5%
  • New jobs to be created by 2030: 2 million
  • Job openings: 528,300
  • Unemployed: 523,000

Which shows that the federal government’s generous distribution of resources has discouraged people from seeking work

  • Visitor spending in Florida $98.8 billion with 86.7 million visitors
  • Turnout: 77.7%

Returning to the theme of Florida against the great world powers, if we consider the economies of the countries today, we have Florida jumping from the 17th to the 15th economy, preceded by:

United States, China, Japan, Germany, England, India, France, Italy, Canada, South Korea, Russia, Brazil, Australia, and Spain

According to projections, Florida is expected to be running for 10th place with South Korea and leaving behind Russia, Brazil, Australia, and Spain. For comparison only Florida has about 22 million habitants, Mexico has 127 million and Indonesia more than 270 million habitants.

Florida is changing. The world is changing. Florida needs to put long-term  planning ahead of the short term, and the time to do that is now. The Florida Chamber Foundation 2030 initiative aims to provide a step-by-step strategy to make Florida more competitive globally, create economic opportunities for all, and creating more vibrant and sustainable communities.

Thinking about moving, investing, and internationalizing your business, Florida is certainly the best option to consider.

About the Author

- My name is Carlo Barbieri, an entrepreneur, civic activist and a leader of many organizations associated with Brazil. A native of Brazil myself, I am currently the CEO of Oxford Group, a firm composed of many international consulting and trading companies. I am also a founding member of the Brazilian Business Group and founding member and Past President of the Brazil Club. In addition, I serve as a Board member of the Deerfield Chamber of Commerce. I have served as a member of the Florida Chamber of Commerce and the Florida Brazil Partnership. Past President of the Rotary Club – Boca Raton West for the 2014-2015 term, I have also been Vice President and Professor of 2Grow – Human Development. An Ambassador of Barry University in Brazil, I am the former President of the Black Fire Bull Steak House. I have also presided over a number of organizations such as the Brazilian Association of Trading Companies (ABECE), Brazil-China Chamber of Commerce in São Paulo, Brazil-Australia Chamber of Commerce, Brazil-Dominican Republican Chamber of Commerce; director of the Trade Center of the State of São Paulo, Brazilian Association of Freight Forwarders and Brazilian Association of Banks. I was also a local Council member for the Consulate General of Brazil in Miami, for the 2013-2017 term.

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