Tourism forms the city's economic base; manufacturing (including hydraulic valves, wood products, magnetic sensors, machine parts, electronics, and aviation equipment), shipping (including citrus), and software development are also important. The Sarasota region is a popular retirement area. Institutions of higher education include the Sarasota campus of the University of South Florida (1974), which has New College (1960), the Ringling School of Art and Design (1931), and the University of Sarasota (1969), which offers graduate-level programs.

Sarasota is known for the John and Mable Ringling Museum of Art, which includes the art museum itself with its large collection of Baroque art, notably works by Peter Paul Rubens (Rubens, Peter Paul); the Asolo Theatre (1790), brought from Venice (Italy) and reassembled by the state of Florida; Ca' d'Zan, the palatial home of John Ringling, completed in 1926; and the Circus Museum. The Asolo Theatre Festival, operated in conjunction with Florida State University, once performed in the Asolo and is now housed in a new performing-arts complex that includes a second reassembled theatre (from Dunfermline, Scotland). Other cultural institutions include a symphony orchestra, ballet troupe, and opera company. The city holds annual music and film festivals. Mote Marine Laboratory contains research facilities and an aquarium open to the public, and Marie Selby Botanical Gardens has a noted orchid collection. Other attractions include Sarasota Jungle Gardens and Bellm Cars and Music of Yesterday. Myakka River State Park is nearby to the southeast. Inc. 1902. Pop. (1990) city, 50,961; Sarasota-Bradenton MSA, 489,483; (2000) city, 52,715; Sarasota-Bradenton MSA, 589,959.