economic outlook FY 20089

stinting Overview Regional Economy The misgiving of the miserliness is definitely the undivided most signifi squeeze outt chemical element influencing travel and tourism. During 2007, the Hampton roadstead parsimony has grown close to 2.6%, which is importantly below the average of 3.7% heart enjoyed each category since 2001. Economic growth in Hampton roads decelerated to its lowest level since 2000 and is approximately the same as the monitor of Virginia and the Nation. Much of the lackluster implementation of the regional economy whoremaster be attributed to the national sparing situation. Rising hobby rates, the piteous performance of the automobile patience, a slow shoot in order construction, and decelerating defense spending argon primary roots. Ben Bernanke, Federal impart back Chairman, states that the combination of higher(prenominal) gas prices, the weak firm foodstuff and tighter address conditions impart all read an come to on the American public. in that location is concern that the recent credit press impart have a negative essence on leisure travel.

It is estimated that the apogee of the Ford Plant go out lower the regions GRP by virtually 0.1 percent. The impact of BRAC (Base Re-Alignment and Closure) would be well larger, existence 1 to 2 percent. A total of 15,000 jobs could be affected. The housing market is down by nearly 20% this year with about a 45% decline oer the lastly two years. However, it is of interest that the condominium market is cover an augment in sales. inquiry is showing and confirming a pocketable slowdown in the U S lodging effort for 2008. The average nonchalant rate should grow about 5%; however, there is a growing concern inwardly the industry of operating(a) costs. push back related costs fall upon up 45% of operating expenses at most hotels. It is predicted that 2008 will lifelessness be a sellers market but hotel...If you penury to induct a upright essay, order it on our website: Ordercustompaper.com

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