MIA and PortMiami fuel Miami-Dade’s economy with record $242.8 billion impact

The 2024 economic impact study, estimated based on the passenger and air cargo activity at MIA and its supporting general aviation airports in 2024, revealed the following:

Mami-Dade County Impact:

MIA’s record-breaking growth continues to boost the local community with more tourism spending, job creation, trade, and commerce, generating $41.2 billion in business revenue and 311,291 direct, indirect, and induced jobs in Miami-Dade County alone in 2024 – the equivalent of one out of every four jobs locally. Travel at MIA surged by 7% in 2024 to nearly 56 million passengers, and cargo shipments skyrocketed by 9% to three million tons – both all-time highs for the global gateway.

Statewide Impact:

Thanks to MIA’s sizeable cargo growth in 2024, it continued to be the busiest U.S. airport for international freight and jumped one spot to rank 5^th in the world in that category. MIA’s 2023 air trade also amounted to 90% of Florida’s total air trade value and 40% of the state’s combined total (air and sea) trade values, making it an economic powerhouse not only in Miami-Dade County but across the state as well.

As a result, Florida-based air freight loaded and unloaded at MIA was valued at $134.3 billion in business revenue and supported 531,412 related jobs, such as direct manufacturers and agricultural producers across the state, giving MIA its total economic impact of $181.4 billion and 842,703 jobs.

Modernization in Action (M.I.A.) Capital Improvement Program:

Last year, MIA’s $9 billion Future-Ready Modernization in Action (M.I.A.) Plan — designed to transform the airport’s terminal and cargo areas over the next 5-10 years — alone generated $252 million in business revenue and 2,865 jobs for the local construction industry, shifting the unprecedented and wide-ranging capital improvement program into high gear.

MIA broke ground last February on the new 2,240-space Ibis Garage, which is scheduled to open this December, and the future 300,000-square-foot Concourse K — scheduled for completion in 2029 — broke ground last month. Other major M.I.A. Plan projects, like the Central Terminal redevelopment, the Gate D60 extension, and the modernization of more than 200 escalators, elevators, and moving walkways, are all scheduled for completion by 2031.

Cruise Industry:

The new study revealed that MIA’s vast economic impact has an outsize effect on the local cruise industry as well. Surveys in the study indicated that 10.4% of domestic visitors and 4.4% of international visitors are arriving to take a cruise at one of South Florida’s two major seaports, with 97.6% of those passengers using PortMiami. The study estimates that 766,662 travelers arrived at MIA for a cruise at PortMiami in 2024, or 9.3% of the port’s total passengers. PortMiami welcomed an all-time high of 8.2 million passengers in 2024, once again making it the Cruise Capital of the World.