HeralTribune.com: US - Florida economy in nose dive - Even European Bargain hunters are going elsewhere - by Michael Pollick and Michael Braga

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US - Florida economy in nose dive - Even European Bargain hunters are going elsewhere - by Michael Pollick and Michael Braga

If you are a beach bistro selling margaritas to tourists, you might not notice. But on the mainland, it feels and looks like a recession.The end of the real estate boom has sent ripples through the economy. Cash register receipts are slumping. Many workers — either laid off or marginalized by cut-backs in hours — are leaving town or taking lower-paying jobs. Food banks are dishing out free food as fast as they can find it.Business bankruptcies in the region have doubled from a year ago, while the amount of debt reported in the filings has nearly quadrupled.

Note EU-Digest: Last month the Florida Chamber of Commerce released its New Cornerstone Revisited, a report that outlined Florida's economic future. On tourism Mark Wilson, president-elect of the chamber, said domestic visitors have increased, while international visitors to the state have declined since the 9/11 terrorist attacks. Even European bargain hunters who benefit from the strong euro are going elsewhere in the US.