Collier Sees Rise in Tourism and Spending. Great News for Real Estate!

10/3/14

 
According to an article published this week in the Naples Daily News, Collier County has seen a significant rise in tourism this year. Since January 1st thru June we have been visited by over one million people and they are keeping local businesses very happy by spending. In fact, spending has increased this year by 11.4 percent to more than $1.13 billion. Collier Tourist Development Council has said that this is a record with no end in sight. Visitation rose 4.4 percent and booked rooms grew 3 percent over the year. This is attributed to Naples gaining market share from it's top competitors within Florida. In June alone, tourism spending spiked 14.2 percent, reaching $128 million according to Research Data Services. 

Visitation to Collier County from all different areas has seen an increase including a 6.3 percent increase from the Southeast, 7 percent from northeastern states and the midwest. Canadian tourism has increased by 5.7 percent and it jumped 11.6 percent from Europe. With these statistics, Europe is now the county's fourth-largest feeder market. In the month of June alone visitation was up 21 percent from Europe. The impact from these statistics is being felt in real estate sales like never before. When sellers ask me where the buyers for their home are coming from the answer is "from all over the world." Naples is no longer the best-kept secret in Florida.

This increase has caused a spike in demand for not only hotel rooms but rentals have been hard to come by with many people booking a year ahead of time. The average daily rate for the major hotel chains is up more than 10 percent. We are seeing the same spike for seasonal home/condo rates. If you have been in Naples for awhile you are distinctly aware of the increase everywhere from people on the beach to tables filled in every restaurant. It was not long ago that come summer time, tumbleweed rolled down 5th Avenue and making a reservation was the local joke, times have changed.

Please contact Adam Carriero at 239-641-3876 or adam@gcipnaples.com for consultation on the Naples real estate market.

Please contact Adam Carriero at adam@gcipnaples.com or 239.641.3876. I am available for consultation on the Naples, Florida, market.


 

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