Port Tampa Bay has once again been thrust into the spotlight following a series of massive investments, infrastructure improvements and strategic partnerships. A strong focus on building lucrative investment opportunities for regional and international partners means that Port Tampa Bay is open for business in more ways than one.
A series of marketing efforts has been undertaken to upgrade the image of Tampa’s port and all efforts are certainly paying dividends now. Among others, a new name and logo was unveiled to rapturous applause from dignitaries at the State of the Port Address recently. Several hundred attendees at Cruise Terminal 2 in Tampa were privy to the announcements and the strategic vision of CEO Paul Anderson.
Investment Potential at Port Tampa Bay
Vast resources have been poured into Port Tampa Bay, but the end goal is to boost regional and international investments to the Tampa Bay area as a whole. The overall capacity of the port is being upgraded to handle the burgeoning needs of the region, with accommodation for all types of cargo. Greater Tampa Bay is set to benefit from the structural changes to the port area. Analysts are expecting dividends to pay off for South Florida, and indeed the state as a whole.
Economically, Port Tampa Bay is the most financially viable hub in the area and no expense is being spared to upgrade all of its facilities. More tonnage makes its way through Port Tampa Bay than any other port in the state of Florida and this alone speaks volumes about its economic significance. The goals of these investments are two-fold: to make Port Tampa Bay a lucrative investment and to drive home the message of unity in diversity.
Presently, the port provides 80,000 jobs to Tampa residents and is responsible for over $15 billion in annual economic activity. With such immense potential, it is clear that upgrades to Port Tampa Bay have far-reaching implications for major market players.
Top Facts about Port Tampa Bay
- Port Tampa Bay is rated a Top 10 U.S. port
- Port Tampa Bay was voted Simply The Best for customer service in Logistics Management Magazine
- Port Tampa Bay handled 34 million tons of cargo for the year ending 30th September 2011
- Port Tampa Bay is in the Top 8 U.S. Cruise Ports with 1 million passengers annually
- Port Tampa Bay homeports 4 vessels from 3 cruise lines: Norwegian Cruise Line and Carnival Cruise Lines, Holland America, and Royal Caribbean
- Port Tampa Bay increased general cargo tonnage by 200,000 tons from 2011 to 2012
- Port Tampa Bay increased total passenger numbers by approximately 150k from 2011 to 2012
International Forex Trading in the Tampa Bay Area
Since international transactions are a major component of all economic activity undertaken, foreign currency plays a big role in all dealings. Tampa Bay represents 6,500 square miles of territory with enormous economic potential. Some 4.3 million people reside in the Tampa Bay region and international commerce is a major part of all economic activity. Total exports from the area were reported as $13.3 billion in 2012. This figure is 23% of Florida’s total exports and approximately 0.63% of the USA’s exports. In terms of total exports in the USA, Tampa Bay ranks 26th (2012).
The economic clout of the region has caused scores of international investors to stand up and take notice. All manner of commodities are traded via the Port of Tampa Bay and the Tampa Bay area in general. International investments are an integral part of overall trade and currency exchange forms a big part of the overall process. All exports from the Tampa Bay region to foreign countries cause a rise in the demand for the US dollar. The flipside of the coin is also true – falling demand results in a weakening of the US currency relative to other currencies.
As US goods are shipped overseas, foreign buyers trade their currencies for the US dollar to pay for these goods. Owing to the enormous financial clout of the Tampa Bay region - for Florida and the continental USA - increasing exports bode well for the overall strength of the greenback. Since a large volume of trade currently takes place from Tampa Bay, this has an impact on FX currency pairs across the board. The top currency pairs include GBP/USD, AUD/USD, EUR/USD, USD/CAD, USD/JPY and USD/CHF.
Investors from all corners of the globe converge on the region to trade physical commodities en masse. As mentioned above, online FX trading in the Tampa Bay area has fast been gaining ground in recent years too. Various trading academies have sprung up with didactic seminars in futures, real estate, options, forex, stocks and indices. This bodes well for work opportunities in international commodities trading, Port Tampa Bay opportunities and general secondary income opportunities.
Traditional ivory tower investment practices have been abandoned in favor of online trading platforms – open to remote investors and residents of the Tampa Bay area. The online trading arena is tapped as a major financial nugget in the world’s most-traded international market – forex. Estimates peg global annual forex trading at between $3 and $5 trillion daily. This figure was ascertained by the Bank for International Settlements in April 2010. Seen from a numbers perspective, the enormous volume of daily trades in FX dwarfs most every other financial market.
This is one of the many reasons why Tampa Bay investors are turning to forex trading. Florida was hard hit by the global economic slowdown in 2008. Home prices plummeted and tourism dropped precipitously. With the recent turnaround in the markets, Florida is beginning to blossom once again and the numbers are testament to this fact. All signs point towards Tampa Bay making a comeback and all investments opportunities are being considered to drive this bullish sentiment into the black.