Experts are saying Florida is the state that will suffer most from the BP oil spill.
“This could stain Florida’s reputation for having beautiful beaches,” said senior economist Mark Vitner at Wells Fargo in Charlotte, North Carolina. “It may scare off some people from committing to conventions and vacations. Florida is clearly the biggest potential loser.” . . .
“We’ll watch sales taxes along the coast for signs of impact on tourism, such as restaurants, hotels and amusement venues,” said Amy Baker, the Florida legislature’s chief economist. “In the long term, there might be effects on property. You may see sales of property decline, as well as property taxes.”
(Source: Reuters, May 8)