Orlando, Fla.—During the term of this pandemic, Florida’s economic recovery has benefited from other states shutting down marketing efforts for most of 2020 after the pandemic closed hotels, theme parks and tourist attractions. Its second-quarter numbers were driven by travelers from other parts of the United States. During the three-month period, Florida drew 30.563 million domestic visitors, representing a 215.9 percent increase from the same period in 2020 — and an increase from the same period in 2019, while receiving 1.115 million overseas travelers, a nearly 95 percent jump from the first quarter. In summary, for the first half of this year, Florida totaled 58.943 million visitors — up 47.6 percent from the first half of 2020, but down 13.6 percent from 2019, when the state was on pace for a record 131.422 million visitors.
Now that Orlando prepares for the return of international visitors in November, it is important to highlight that, Visit Florida, the company responsible to market the destination, received $50 million in the state budget that started July 1 for marketing efforts. Another $5 million is calculated into the agency’s $121.2 million budget from the U.S. Commerce Department Economic Development Administration through a federal stimulus law known as the CARES Act.
Global visitors have a massive impact on the local economy and tend to stay longer and spend more than domestic visitors. Before the pandemic, international visitors spent more than $6 billion annually in Central Florida.
On the other token, given the federal guidelines announced recently, international visitors will have to provide proof of vaccination, and a negative COVID-19 test taken within 72 hours of boarding flights to the U.S.— in order to help mitigate health concerns associated to the new influx of global travelers. Travel is a risky business, even in the best of times.
Insurance Wise
You must protect your business against a lawsuit over unsatisfactory vacation accommodations or an injured customer at your office, a data breach that exposes client information, or other costly incidents which could easily put you off-track.
Your insurance needs will depend on the nature of your tourism related business, for example— you would need different types of coverage if you are the owner/operator of a tourist transportation/excursions company than a travel agency.
The most common travel agent risks could be covered by a combination of the following policies:
Regarding the cost of insurance for these type of businesses, there are multiple factors to take into consideration, like:
- Travel services offered
- Business equipment and property
- Revenue
- Location
- Number of employees
Taxis, limousines, vans and other tourist transportation businesses will have other functionalities to take a look and discuss with your insurance agent.
At Garzor Insurance we care about your business. Our experienced professionals are dedicated to providing commercial insurance, including business general liability coverage in Florida as well as Texas, and now many other states across the U.S.A. If you have questions about truck insurance, or any other commercial insurance aspects, please do not hesitate to visit us online at Garzor Insurance, or you may want to call us directly at (321) 206-8035.
Oscar Pacheco
Insurance Agent - Transportation Specialist
