Our Economy Without Cruise Ships
Key West has gone almost a full year without cruise ships, which were halted worldwide by the CDC No Sail Order on March 15, 2020. As we approach the one-year anniversary, the Safer, Cleaner Ships research team has been studying the local economic indicators to better understand how our economy is faring without cruise ships. Here’s what we’ve found:
HOTEL & LODGING
Total hotel bed taxes for September–December 2020 exceed the same period for 2019 throughout the Florida Keys. (Monroe County Tax Collector’s Office)
For all of 2020, Florida Keys and Key West have the highest hotel occupancy rates and room rates in the state. (Source: Smith Travel Research Monthly District & Tier Overview Report; see page 9 & 10)
For March 2021, Key West has the highest hotel occupancy rate in the US. (Source: Amadeus Hospitality Report)
TOTAL SPENDING
Total sales tax revenue for September–November 2020 exceed the same period for 2019 throughout the Florida Keys (Source: Florida Sales Tax Return Data, Monroe County)
Total sales tax and parking revenues for September–December 2020 exceed the same period for 2019 in the City of Key West. (Source: City of Key West Finance Department.)
EMPLOYMENT
As of December 2020, the unemployment rate in the Florida Keys (Monroe County) is 2.6% — tied for the lowest UE rate in Florida and among the lowest in the U.S. (Source: FL Dept of Economic Opportunity).
BUSINESS AT THE PORT OF KEY WEST
For June–December 2020, many businesses at the Historic Key West Bight, part of the Port of Key West, had monthly sales higher than 2019, including bars and restaurants and watersports and dive companies. (Source: City of Key West Finance Department)
City of Key West Finance Director Mark Finigan reports: "Major Key West Bight tenants and the attractions based commercial tenants are doing as well as pre pandemic numbers (or better in certain cases)." (Source: Finance Director memo to City Commission)
For October 2020–January 2021, fuel sales at Key West Bight are 8% higher than the same period last year. For the month of January, fuel sales are up 25%, transient dockage is up 4%, and dinghy dockage is up 14%. Ports Director Doug Bradshaw reports: “Marina is full and we are predicting that it will stay that way towards April.” (Source: January Monthly Report for Key West Historic Seaport)