The Copa America 2024 is just around the corner and promises exciting football matches. In addition, it offers a number of America’s Cup events Collateral. These can be very beneficial for business and real estate investments.
Specifically, the tournament represents the arrival of thousands of tourists and international fans to two Florida cities: Miami and Orlando. It’s a unique opportunity for entrepreneurs and investors to make the most of it.
Increase in demand for housing
Investors are seeing a golden opportunity in buying and renting properties in Florida’s cities. Especially in the Florida counties that host the tournament venues. One of the immediate effects of the America’s Cup events is the increase in demand for housing. With the arrival of fans, journalists, and soccer teams, the need for temporary housing in Miami has skyrocketed by 10% (Record, 2024).
This phenomenon doesn’t just benefit hotels and temporary accommodations. Indirectly, it also does so with those looking for homes in the United States to invest in. Can you imagine renting out your property at affordable prices?
during
this long-awaited event?
Improvements to local infrastructure for Copa America events
Preparation for America’s Cup events has driven significant improvements in host cities’ infrastructure:
- In Miami, there have been carried out multiple renovation projects. Some are the Hard Rock Stadium, Highways and Public Transportation (Meza, 2023). These improvements benefit sporting events. They also have a long-term economic impact on residents’ quality of life and the city’s attractiveness for future futures Investors. That’s why the Investors can take advantage of this visitor boom to expand and increase their income by doing better business in Miami.
- In Orlando, investing in infrastructure has been equally impressive. The city has renovated its sports facilities and improved connectivity with other parts of Florida (Ryzewski, 2024). So, it’s easier now and convenient for visitors and residents to get around the city.
Copa America 2024 Events: A Long-Term Economic Impact
![America's Cup Events](https://assets.pfsrealty.com/image?w=600&h=375&f=webp&fit=crop&image=https://pfsrealty.kinsta.cloud/wp-content/uploads/2024/05/Eventos-de-la-Copa-America-2024-2-600x375.webp)
The impact of the Copa America is not limited to the tournament itself. The legacy he will leave in Miami and the city of Orlando will be felt for years to come in three areas:
- Long-term tourism. The America’s Cup will put these cities on the radar of tourists from all over the world. Many will want to return after the tournament, attracted by the new infrastructure and the improved tourist offer.
- Attracting new enterprises. The international visibility that The cities that will win during the America’s Cup will likely attract companies looking to expand or establish themselves in a place with growth potential.
- Talent Development local. The Copa America has generated jobs and training opportunities in various sectors. Since From construction to hospitality and tourism, it has boosted the development of local talent.
Real Estate Investment Opportunities
In short, the events of the America’s Cup represent an excellent opportunity to acquire real estate projects in Miami and Orlando. With increased demand for housing, infrastructure improvements, and the economic impact going forward, properties in both cities are seeing an increase in value.
Without a doubt, it’s the perfect time to buy property in these Florida cities. So take advantage of this event to enjoy the best football while capitalizing on your investments in the 2024 Copa America venues. What are you waiting for to kick things off?
References
Canal E. (2024, May 2). United States: investments grow due to the presence of Lionel Messi. https://www.perfil.com/noticias/canal-e/estados-unidos-como-crecen-las-inversiones-por-la-presencia-de-lionel-messi.phtml
Meza, E. (2023, July 15). Miami-Dade County will implement a plan to improve public transportation. Infobae. https://www.infobae.com/estados-unidos/2023/07/15/el-condado-de-miami-dade-implementara-un-plan-para-mejorar-el-transporte-publico/
Lucchesi, C., & Marques, F. (2023, December 21). Latin American millionaires are moving their fortunes to Miami in search of stability and returns. Infobae. https://www.infobae.com/wapo/2023/12/21/los-millonarios-latinoamericanos-estan-trasladando-sus-fortunas-a-miami-buscando-estabilidad-y-rendimientos/
Record. (2024, May 24) U.S. cities show increases of up to 350% in demand for lodging for Copa America. MSN. https://www.msn.com/es-us/deportes/futbol/ciudades-de-eu-presentan-aumentos-de-hasta-350-de-demanda-en-hospedaje-para-copa-am%C3%A9rica/ar-BB1n0lKq
Ryzewski, S. (2024, April 25). Expansion, innovation of Central Florida’s highways crucial for Orlando’s transportation puzzle. Orlando Business Journal. https://www.bizjournals.com/orlando/news/2024/04/25/central-florida-transportation-highways-roads-fdot.html
Vallejos, S. (2023, November 11). Investment boom in Miami: “The Messi effect is going to put Argentine gastronomy at the top of the world”. Forbes. https://www.forbesargentina.com/negocios/boom-inversiones-miami-el-efecto-messi-va-poner-gastronomia-argentina-lo-mas-alto-mundo-n43545