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Fort Lauderdale's economy is heavily reliant on tourism. From the 1940s through the 1980s, the city was known as a spring break destination for college students. Cruise ships and nautical recreation provide the basis for much of the revenue raised by tourism. Fort Lauderdale now attracts a more sophisticated and affluent tourist, while largely ignoring the dwindling college crowd.[45] There is a convention center located west of the beach and southeast of downtown, with 600,000 square feet (55,742 m2) of space, including a 200,000-square-foot (18,581 m2) main exhibit hall.[46] Approximately 30% of the city's 10 million annual visitors attend conventions at the center.[47]
The downtown area, especially around Las Olas Boulevard, has seen development in the past decade, and now hosts many new hotels and high-rise condominium developments. The downtown area is the largest in Broward County, although there are other cities in the county with commercial centers. Other improvements include a wide array of new boutiques, art galleries, and restaurants.
The Fort Lauderdale metropolitan area foreclosures increased 127.4% from 2006 to 2007, or one filing per 48 households in the quarter. Fort Lauderdale ranks fourth in the list of top 10 metropolitan areas ranked by foreclosure filings per household for the third quarter of 2007.[48]
Fort Lauderdale is a major manufacturing and maintenance center for yachts. The boating industry is responsible for over 109,000 jobs in the county.[49] With its many canals, and proximity to the Bahamas and Caribbean, it is also a popular yachting vacation stop, and home port for 42,000 boats, and approximately 100 marinas and boatyards.[7] Additionally, the annual Fort Lauderdale International Boat Show, the world's largest boat show, brings over 125,000 people to the city each year.[50]
Companies based in the Fort Lauderdale area include AutoNation, Citrix Systems, DHL Express, Spirit Airlines, and National Beverage Corporation. The largest employers in the county are Tenet Healthcare, which employs 5,000 people; American Express, which employs 4,200; The Continental Group, which employs 3,900; Motorola, which employs 3,000, and Maxim Integrated Products, which employs 2,000.[51]
The downtown area, especially around Las Olas Boulevard, has seen development in the past decade, and now hosts many new hotels and high-rise condominium developments. The downtown area is the largest in Broward County, although there are other cities in the county with commercial centers. Other improvements include a wide array of new boutiques, art galleries, and restaurants.
The Fort Lauderdale metropolitan area foreclosures increased 127.4% from 2006 to 2007, or one filing per 48 households in the quarter. Fort Lauderdale ranks fourth in the list of top 10 metropolitan areas ranked by foreclosure filings per household for the third quarter of 2007.[48]
Fort Lauderdale is a major manufacturing and maintenance center for yachts. The boating industry is responsible for over 109,000 jobs in the county.[49] With its many canals, and proximity to the Bahamas and Caribbean, it is also a popular yachting vacation stop, and home port for 42,000 boats, and approximately 100 marinas and boatyards.[7] Additionally, the annual Fort Lauderdale International Boat Show, the world's largest boat show, brings over 125,000 people to the city each year.[50]
Companies based in the Fort Lauderdale area include AutoNation, Citrix Systems, DHL Express, Spirit Airlines, and National Beverage Corporation. The largest employers in the county are Tenet Healthcare, which employs 5,000 people; American Express, which employs 4,200; The Continental Group, which employs 3,900; Motorola, which employs 3,000, and Maxim Integrated Products, which employs 2,000.[51]
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