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The 3 most important trends to know about Orlando in 2020

If your resolutions for 2020 included to visit Orlando or know more about the opportunities that our city can offer to you? We have great news for you!

Florida has eight economic development regions and Greater Orlando belongs to the East Central one, with technology and tourism as the primary economic drivers here. In our region, we have the Florida’s Space Coast that includes the NASA’s Kennedy Space Center and Port Canaveral, the second busiest cruise port in the world. Also in Orlando-Kissimmee area, we have the most famous theme parks of the world, Walt Disney World.

In addition, we’re consider one of the “Best Cities for Gamers,” according to the website WalletHub, that ranks Orlando No. 4 nationwide. Forbes considered that the region has long been known as the nation’s epicenter of digital simulation and modeling which is a niche market that draws an international talent pool of software engineers, data scientists, animators and digital designers.

All the above contributes to the tremendous growth that we had seen in the last years, while we will continue seeing the development of many business and other moving their headquarters here, as Boeing and Amazon. At the same time we will see a growing of the constructions of many communities, hotels and restaurants that will attract thousands of people that are moving here or tourists that visit us from around the world.

Without question, 2020 will be a great year for our region. Here are the top 3 great areas where will be seeing positive trends this year:

Business & Sports: Port Canaveral will have the new Cruise Terminal 3, a new $163 million facility that will allow to accommodate mega cruise ships, which will bring more visitors to the port and benefit the overall region. The
new Carnival Panorama will use this as homeport. In addition, in Lake Nona, will be a new XL Soccer World, a 50,000-square-foot, fully air-conditioned and indoor athletic complex that is expected to open in the summer of 2020. And the Orlando City SC will have an additional facility in Osceola County, adding the 5,400 seat stadium located on the grounds of the Club’s new training complex at Osceola Heritage Park.

Orlando Residential InvestmentsReal Estate: The Real Estate outlook looks bright for 2020. Orlando home prices are expected to rise by 3.2% and our rental property market is expanding at a great pace. People from all over the world are looking to invest here in a long term rental properties. According Orlando Regional Realtor Association (ORRA), the median home value in Orlando was $242,000 in October 2019. Developers will continue building new communities for vacation rentals, long term rentals and to be use as primary residences.

Attractions: Every year the theme parks have new attractions, and in 2020, we will have some great ones as Mickey and Minnie’s Runaway Railway, at Disney’s Hollywood Studios; Remy’s Ratatouille Adventure at Epcot, The Bourne Stuntacular at Universal Studios Florida, Icebreaker at SeaWorld Orlando and Iron Gwazi at Busch Gardens Tampa Bay, among others.

Definitely in 2020 Orlando will give you more reasons to visit, to move or to invest here and we will be here to welcome you!

Milena Valle

Milena@vivaorlando.com – 407.922.4620