Florida has reportedly become the 14th largest economy in the world, with a nominal gross domestic product of approximately 1.8 trillion dollars, surpassing Mexico and Australia, according to a comparison released by the Florida Chamber Foundation.
The data from the United States Bureau of Economic Analysis (BEA) puts Florida's nominal annual GDP at $1.8346 trillion in 2025, up from $1.7267 trillion in 2024, representing a growth of approximately 6.3%.
The international classification, however, corresponds to the calculation made by the business organization.
The progress represents a milestone within the strategic plan «Florida 2030 Blueprint», which aims to position the state among the ten largest economies in the world by the end of the decade.
According to the foundation's calculations, Florida would need to grow by approximately another 2% to surpass South Korea and take the 13th position.
Reaching the top 10, where Canada currently holds the tenth position in the ranking used by the Chamber, would require an additional growth of nearly 21%.
Mark Wilson, President and CEO of the Florida Chamber of Commerce Foundation, attributed the progress to the free enterprise model, low taxes, and reduced regulation that, according to the organization, set the state apart.
"The rise of Florida to the 14th largest economy in the world is part of our Florida 2030 Blueprint and further proof that free enterprise works," Wilson stated.
"Florida continues to create jobs, attract investment, welcome new businesses, and provide families with greater opportunities to thrive," he emphasized.
In an interview with Fox Business, the executive compared Florida's model to that of New York, Illinois, New Jersey, Minnesota, and California, states he described as being caught in a "downward spiral" due to increasing taxes and regulations.
"Our country is now at a crossroads, where some of these spiraling states in decline, like New York, have adopted socialist policies that, of course, never work. They take away freedom and increase taxes and regulations," Wilson stated.
Wilson stated that the migration of wealth to Florida remains above four million dollars per hour, while the daily net migration has stabilized at around 500 to 600 new residents, far from the peak recorded after the pandemic.
The executive also highlighted the growth of sectors such as aerospace, defense, financial technology, healthcare, and logistics. The modeling and simulation industry in Central Florida is valued at approximately $11.6 billion, according to the data he cited.
The Chamber also states that Florida has the lowest state debt per capita in the country, with less than $1,000 per resident, compared to over $6,500 in New York.
Among the indicators compiled by the Florida Scorecard are the national first place in business creation, growth of manufacturing jobs, business migration, and businesses owned by African American employees, as well as second place in businesses owned by Hispanics and women.
The economic boom, however, has a less favorable face for working families: a Bloomberg analysis based on federal government data revealed that the cost of living in the Miami, Fort Lauderdale, and West Palm Beach metropolitan area is approximately 5% higher than in the New York metropolitan region and its suburbs.
Wilson argued that the study does not compare the entire state of Florida with New York, but rather two metropolitan regions. He also emphasized factors such as public safety and asserted that some of those advantages cannot be measured solely by their cost.
"The secret ingredient of Florida is that this has been part of a 20-year plan," Wilson summarized.
"From the governor and the legislature to nearly all of us in the business community, we have followed a very focused path in adopting the right policies so that Florida can grow in the right way, people can work, live the American dream, and we can show the rest of the country and the world how to do it," he added.
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