Economy

Fort Lauderdale's economy has diversified over time. From the 1940s through the 1980s, the city was known as a spring break destination for college students. However, the college crowd has since dwindled, with the city now attracting wealthier tourists.^[60] Cruise ships and nautical recreation provide the basis for much of the revenue raised by tourism. There is a convention center located west of the beach and southeast of downtown, with 600,000 square feet (55,742 m²) of space, including a 200,000-square-foot (18,581 m²) main exhibit hall.^[61] Approximately 30% of the city's 10 million annual visitors attend conventions at the center.^[62]
The downtown area, especially around Las Olas Boulevard, first underwent redevelopment starting in 2002^[63] and now hosts many new hotels and high-rise condominium developments.^[64] The downtown area is the largest in Broward County, although there are other cities in the county with commercial centers. Office buildings and highrises include Las Olas River House, Las Olas Grand, 110 Tower (formerly AutoNation Tower), Bank of America Plaza, One Financial Plaza, Broward Financial Center, One East Broward Boulevard, Barnett Bank Plaza, PNC Center, New River Center, One Corporate Center, SunTrust Centre, 101 Tower, and SouthTrust Tower.^[65]
The Fort Lauderdale metropolitan area foreclosures increased 127.4% from 2006 to 2007, or one filing per 48 households in the quarter. Fort Lauderdale ranks fourth in the list of top 10 metropolitan areas ranked by foreclosure filings per household for the third quarter of 2007.^[66]
Fort Lauderdale is a major manufacturing and maintenance center for yachts. The boating industry is responsible for over 109,000 jobs in the county.^[67] With its many canals, and proximity to the Bahamas and Caribbean, it is also a popular yachting vacation stop, and home port for 42,000 boats, and approximately 100 marinas and boatyards.^[24] Additionally, the annual Fort Lauderdale International Boat Show, the world's largest^[68] boat show, brings over 125,000 people to the city each year.^[69][70]
Companies based in the Fort Lauderdale area include AutoNation, Citrix Systems, DHL Express, Spirit Airlines, and National Beverage Corporation. The largest employers in the county are Tenet Healthcare, which employs 5,000 people; American Express, which employs 4,200; The Continental Group, which employs 3,900; Motorola, which employs 3,000, and Maxim Integrated Products, which employs 2,000.^[71]
Gulfstream International Airlines, a commuter airline, is headquartered in nearby Dania Beach.^[72][73][74] An Online Trading Academy center is also located in the city.