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Miami Ranks as Pandemic's Most Vulnerable US Luxury Market

Miami Ranks as Pandemic's Most Vulnerable US Luxury Market

(Bosenok | Dreamstime.com)

Wednesday, 24 June 2020 07:42 AM

Miami, Honolulu and Las Vegas are emerging as America’s most vulnerable luxury retail markets, according to a new study, which predicts that the Covid-19 pandemic will hit economies dependent on overseas tourists especially hard.

The ranking released Wednesday by San Francisco-based consulting firm Webster Pacific considered metropolitan areas’ international tourist visits per capita and the number of luxury retailers in each area, including Louis Vuitton, Versace and Fendi. The cities were ranked in both of the categories.

The Miami area appeared to be returning to a semblance of economic normalcy last month, but Covid-19 cases have begun to jump in the past several weeks. The mayors of Miami and neighboring cities in Miami-Dade County announced Monday they were mandating the wearing of masks in public upon the advice of state health officials.

The report looked at 42 markets that have one or more luxury retail stores and report international tourism figures to the National Travel and Tourism Office.

Here’s the ranking of the top 20 U.S. luxury retail markets at risk:

  1. Miami-Miami Beach-Kendall, FL MD
  2. Honolulu, HI MSA
  3. Las Vegas-Paradise, NV MSA
  4. New York-White Plains-Wayne, NY-NJ MD
  5. San Francisco-San Mateo-Redwood City, CA MD
  6. Los Angeles-Long Beach-Glendale, CA MD
  7. Orlando-Kissimmee-Sanford, FL MSA
  8. Boston-Quincy, MA MD
  9. Washington (DC Metro Area), DC-MD-VA
  10. San Jose-Sunnyvale-Santa Clara, CA MSA
  11. Santa Ana-Anaheim-Irvine, CA MD
  12. Chicago-Joliet-Naperville, IL MD
  13. West Palm Beach-Boca Raton-Boynton Beach, FL MD
  14. Kahului-Wailuku (Maui), HI MICRO
  15. Naples-Marco Island, FL MSA
  16. Dallas-Plano-Irving, TX MSA
  17. San Diego-Carlsbad-San Marcos, CA MSA
  18. Seattle-Bellevue-Everett, WA MD
  19. Houston-Sugar Land-Baytown, TX MSA
  20. Philadelphia, PA MSA

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Miami, Honolulu and Las Vegas are emerging as America's most vulnerable luxury retail markets, according to a new study, which predicts that the Covid-19 pandemic will hit economies dependent on overseas tourists especially hard.
us, luxury, markets, coronavirus, hit
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2020-42-24
Wednesday, 24 June 2020 07:42 AM
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