Hispanic Immigration Will Spur Florida Economy Over Next 20 Years

Good news for Florida’s economy: the growing Hispanic population is set to have a positive impact on job growth over the next 20 years. According to a new national study by international research firm IHS, “Hispanic Immigration and U.S. Economic Growth,” released in February, the Hispanic population will account for 75 percent of the job growth in south Florida alone.

Hispanics have long made up a large portion of Florida’s population, specifically in the southern part of the state, where many are born or immigrate. Over the next 20 years, the number of foreign-born Hispanics who will relocate to the U.S. is expected to increase from 22 million to more than 29 million. Although the overall U.S. population will see a 0.8 percent growth, the growth of the Hispanic population will average 2.1 percent. This represents a significant shift in the demographic makeup of the population and should be especially reflected in south Florida.

This increased population will boost Florida’s employment economy for a number of reasons. Many of the Hispanics moving into the area will be of a younger age than other groups. This means that there will be a larger number of people moving into the job market than leaving it. With the aging Baby Boomer population, this is especially good news, as Florida is a target destination for many retirees. Additionally, many of these individuals will move into construction, health services and hospitality jobs, which will increase these markets and create more jobs.

Although an increase in population may help boost Florida’s economy, it can also mean an increase in immigration law issues, as many immigrants will need to procure visas. If you have a question about the state’s immigration laws or need assistance with a pending immigration matter, meet with an experienced immigration attorney at the Law Office of K. Dean Kantaras.

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