Data trends predict Southwest Florida’s population, job growth
The Sanibel Captiva Trust Company’s four-part 2023 Speaker Series concluded with an in-depth examination of data predicting Southwest Florida’s future population and job growth.
Titled “The Past, Present and Future of Southwest Florida,” the session on April 4 explored two decades of population data. From 2000 to 2010, the five-county region grew 30%. From 2010 to 2020, the region’s growth was 20%.
“In economics, a lot is based on historical data — where things are now and where they are going,” speaker Aysegul Timur, then vice president and vice provost for strategy and program innovation at Florida Gulf Coast University, said.
The region’s three largest age groups are 65 to 74 years old, 55 to 64 years old and 75 to 84 years old, respectively, across Lee, Collier, Charlotte, Hendry and Glades counties.
“It’s important to recognize that our population is aging, so we can start preparing for that now,” he said. “Right now, the workforce we will need to support our population is less than where it needs to be.”
FGCU, along with other universities, colleges, technical centers and high schools, are implementing academic and training programs to prepare graduates for the jobs of tomorrow. Given the region’s aging population that means more jobs in health care, as well as construction to build senior communities and medical facilities. Additional retirees and seniors moving to the region, along with the aging of the current population, also means more jobs in hospitality, including restaurants, retail and entertainment.
Overall, the proportion of adults ages 65 and above is predicted to continue growing:
– 2020: 32%
– 2030: 36%
– 2040: 38%
– 2050: 40%
Timur said when considering births minus deaths, Southwest Florida had a net decline of 8,826 people from 2020 to 2021. However, migration to the region — people moving here versus people moving away — amounted to a one-year gain of 55,806 people. By 2050, the five-county region will be home to an estimated 2.2 million people.
The Speaker Series also featured discussions about estate planning, advocating for caregivers and the importance of establishing a will. The company will announce plans for its 2024 series in the fall.