When summarizing Orlando's economy in one word, most people think of "tourism." This is true.

However, that alone does not explain even half of Orlando's economy. The COVID-19 pandemic clearly demonstrated that the tourism industry is both the foundation and a vulnerability of this city. Since that experience, the diversification of Orlando's economy has been progressing much more rapidly. Let's take a look at the key industries driving Orlando.

The Tourism & Hospitality industry is the largest pillar of Orlando's economy. The annual number of visitors is around 75 million, making it one of the most visited tourist destinations in the United States. The Walt Disney Company, NBCUniversal (the parent company of Universal Studios), and SeaWorld Entertainment are among Orlando's largest employers, directly employing tens of thousands of people combined. When including indirect employment from surrounding hotels, restaurants, rental cars, and entertainment services, the tourism industry holds an overwhelming share of Orlando's economy. The job types in the tourism industry range widely from high-income management positions to minimum wage service jobs.

The Healthcare & Life Sciences industry is at the core of Orlando's economic diversification. The Lake Nona Medical City is a large medical cluster developed southeast of Orlando. Several medical institutions, including UCF College of Medicine, Nemours Children's Hospital, VA Medical Center, and Sinai Medical Group, are gathered within this cluster. Companies in life sciences research, medical devices, and digital health are also growing in this area. Orlando Health and AdventHealth are large hospital groups that employ tens of thousands of people each, ranking among Orlando's largest employers.

The Defense & Simulation Technology sector is a field where Orlando holds a unique position nationally. The proximity to the Kennedy Space Center, existing aerospace industry infrastructure, and UCF's modeling and simulation research capabilities have attracted defense simulation companies to Orlando. Major defense firms such as Lockheed Martin, L3Harris Technologies, Northrop Grumman, and Boeing operate offices or facilities in the Orlando area. Research institutions that were predecessors to the Army Game Studio have also operated in this region. Hundreds of software development companies related to simulation and training are based in Orlando.

The technology and startup ecosystem is also growing. The tech startup ecosystem is developing around the UCF Research Park and incubator programs. There is particularly active entrepreneurship in the fields of edtech, gaming technology, cybersecurity, and unmanned aerial technology (drones). Amazon operates a large logistics center in the Orlando metropolitan area, and major tech companies like Apple, Google, and Microsoft are increasing their offices or remote workforce in Orlando. Compared to Silicon Valley, Orlando has a much lower cost of living, making it an attractive relocation destination for remote tech workers.

The real estate and construction industry is thriving due to population influx. Orlando is a city that continuously attracts new residents, leading to steady housing demand. New development projects, commercial real estate, and logistics warehouse construction are active, and employment in construction-related sectors is strong. New developments in areas like Lake Nona, Winter Garden, and Clermont are driving the ongoing activity in the construction and real estate industries. Within the Korean community, there are many examples of participation in Orlando's economy through real estate-related startups or investments.