Economist: Florida’s Gulf Coast to lose 200,000 jobs from massive oil spill; 50% drop in tourism

Oil spill disaster could cost Florida 200,000 jobs, Miami Herald, June 9, 2009:

If oil ruins beaches up and down Florida’s [Gulf] coast, it would cost the state nearly 200,000 jobs, according to a new report. …

If Florida suffers a nightmare scenario of oil soaking its Gulf Coast, the economic cost could top $10 billion and put about 195,000 people out of work, according to a new report.

The grim estimates from a University of Central Florida economist involve fairly simple math: Take the value of tourism on Florida’s western coast and cut it in half.

The economist, Sean Snaith, said a 50 percent drop in tourism and related spending seemed reasonable should Florida suffer a massive, direct hit from the Gulf oil spill.

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