Fort Lauderdale's economy is heavily reliant on tourism. During the 1970s, the city was known as a spring break destination for college students. The tourist dollars are largely directed toward cruise ships and the array of nautical recreation. Fort Lauderdale now attracts a more sophisticated and affluent tourist, however it still remains a popular spring break destination for college students.
The entertainment district runs east-west along Las Olas Boulevard, from the beach to the heart of downtown. The district is anchored in the West by the Broward Center for the Performing Arts, and runs through the city to arrive at the intersection of Las Olas and A1A. This intersection is the "ground zero" of Fort Lauderdale Beach, and is the site of the "Elbo Room" bar featured in the 1960 film Where the Boys Are, which led in large measure to the city's former reputation as a spring break mecca. The city also hosts Langerado, an annual music festival.
There is a convention center located west of the beach and southeast of downtown.
Fort Lauderdale is a major manufacturing and maintenance center for yachts. The boating industry is responsible for over 100,000 jobs in the area. With its many canals, and proximity to the Bahamas and Caribbean, it is also a popular yachting vacation stop. The boating industry is in transition as high land cost are forcing marinas to sell and relocate out of the area. Additionally, the number of boat slips are declining as marinas are more actively seeking the large mega-yachts.
The downtown area, especially around Las Olas Boulevard, has seen dramatic growth in the past decade, and now hosts many new hotels and high-rise condominium developments. The downtown area appears to be the largest downtown area in Broward County, though there are other smaller cities in the county with commercial centers. Other improvements include a wide array of new boutiques, art galleries, and restaurants as well as upgrades to Lockhart Stadium (to attract marquee sporting events).
Several large companies are based in the Fort Lauderdale area including: AutoNation, Citrix Systems, DHL Express, Spirit Airlines, and National Beverage Corp. Due to its proximity to Miami, Fort Lauderdale is emerging as a location for Latin American headquarters for companies such as Microsoft.
