Listen to an interview with Steve Maggi at the link below:
ST. PETERSBURG -- An upcoming rule change for foreign travelers to the U.S. could mean more economic activity for Florida, and not just in tourism.
Starting Monday, November 8th, travelers from more than 30 countries, including the European Union, Brazil and China, will be able to visit the U-S without special permission for the first time since the COVID pandemic. They will need to show proof of vaccination and a negative COVID test.
The benefits for tourism are obvious, but foreign investment in Florida could also benefit. Steve Maggi, an immigration attorney whose law firm is based in St. Petersburg, says that as much as half a trillion dollars has been parked outside the U.S., waiting for the chance to invest. Maggi says investors have been reluctant to buy into Florida businesses and real estate, since they can't look at their investments in person.
Maggi says foreign investment contributes to Florida's job growth, producing about 366,000 jobs. Florida is fourth in the U.S. for foreign investment.
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