MELBOURNE, Fla. — Melbourne is experiencing significant growth in various sectors.

Officials say the city's economy is being bolstered by new projects, which is evident from the latest tourist tax development numbers.

According to the Space Coast Office of Tourism, the city's tourist tax collections in February 2023 reached an all-time high of $2.68 million.

This surpasses the previous two Februarys on record, with the year 2021 having nearly $400,000 less and 2019 having nearly $1 million less.

The increase in tourism is attributed to the Melbourne Orlando International Airport, which saw more than 700,000 passengers last year, including almost a quarter of a million international travelers.

The airport's recent $72 million terminal expansion and renovation project added 86,000 square feet of space, and a new airline, Avelo, has announced plans to provide twice-weekly service to New Haven, Conn., and Raleigh-Durham, N.C.

As more tourists visit Melbourne, small business owners say they are thriving.

Giftique, a downtown store, is experiencing better business than ever, according to its owner, Mary Altier.

Altier said that she enjoys sharing the growth around her shop and feels that her customers appreciate it.

"I don't think a lot of them know what's going on, when they come in and they are visiting and they are looking forward to something when they come back," she said.

The tourism industry in Melbourne is also set to expand with two upcoming projects.

The "Lakoona Beach" aquatic resort lagoon is set to occupy a 56-acre plot on former airport land and will feature housing units, retail spaces, eateries, and entertainment spots. The project is expected to create around 2,600 jobs.

Meanwhile, the $75 million Margaritaville Landing and Riverwalk project, located on U.S. 1, is under construction and will feature a 146-room hotel, a restaurant, marina, 14,000-square-foot lawn with a stage, and a boardwalk.

"It's finally happening — we can see the growth starting to come, it will be great, once it all comes together it will be amazing," said Altier.

With tourist tax collections already exceeding $10 million year to date, the Space Coast Office of Tourism is celebrating 23 months of "best month for that month," a promising sign for the city's continued growth.