Data: U.S. Bureau of Economic Analysis; U.S. Census Bureau; Note: Based on change in real gross domestic product from 2022 to 2023; Chart: Axios Visuals
Tampa Bay's economy was one of the fastest-growing among large U.S. metros last year, according to new federal data.
Why it matters: The numbers released this month show the region's economy has been booming.
By the numbers: Tampa Bay's gross domestic product increased by 4.3% from 2022 to 2023, hitting $198 billion last year, per the data from the U.S. Bureau of Economic Analysis.
Our region had the seventh-highest growth rate among metro areas with a population of over 1.5 million.
Zoom in: The finance, insurance and real estate industries drove much of the growth in the Tampa-St. Petersburg-Clearwater metro area, generating $52 billion last year — up from $50 billion in 2022, per BEA data.
The health care and social assistance fields also made gains, rising from $18 billion in 2022 to over $20 billion last year.
Zoom out: Seattle saw the highest economic growth among large metros. Houston, Charlotte, San Antonio and Austin rounded out the top 5.
In Florida, Orlando, Tampa Bay, Jacksonville and Miami made the top 10.