Shout It Loud

Myrtle Beach, SC tourism gets a boost from the Gulf oil spill, how will this effect the Real Estate Market?

Business Owners from resorts, restaurants, bars and many of the retail shops along the Grand Strand are seeing a boom in business! Owners have reported spikes in business due to the Gulf Coast’s misfortune with the BP Oil Spill. A lot of the tourist who typically vacation along the Gulf Coast have switched this years plans because of the high impact the BP Oil spill has created along the beach and resort areas. Many vacationers are concerned they will encounter beaches soiled with oil, so now they are coming to the East Coast of Myrtle Beach.

The North Myrtle Beach and Myrtle Beach Chamber of Commerce said calls seem to be flooding in from all over, mainly tourist troubled about changing their destination to the Grand Strand due to conditions in the Gulf.

Fishing Charters have seen as much as a thirty percent boost compared to the 2009 fishing season. Since the condition in the Gulf is out of control, many of the normal recreational anglers have began to look for new water to enter into. Currently there is a NO FISHING code in over 80,000 square miles of the Gulf, that is about 1/3 of the federal waters in this region.

ResortQuest out of Florida, that also have operations in South Carolina has booked at least $40,000 worth of their existing reservations with their Myrtle Beach property management due to their clients changing plans from the Gulf Coast. Their company marketing executive has stated that a good portion of their $18 million in reservations along the Gulf Coast will be shifting directions to the Grand Strand.

Resort occupancy along the Strand are continuing to increase since the holiday weekend, but this year it is for another reason.

For the July Fourth holiday weekend according to AAA there was marking a 17 percent increase from last year. Many of Myrtle Beach’s hotel owners are saying its an unfortunate situation but, the Gulf Oil spill is having a very positive impact on the Grand Strands economy.

The Carnivale Motor Inn has said that they are currently averaging 15 or more calls each day. For many resorts this is the best summer they have seen in over two years. A bunch of the resorts are saying many of the visitors are from Florida.

Myrtle Beach Property Managers are saying that the next market that could be affected is the real estate market. The impact of Gulf oil spill could muck up housing markets in the Gulf for years. Many Baby Boomers that may have been considering a retirement in the Gulf are now taking a look at the Grand Strand. The Grand Strands housing market currently has some of the best bang for your buck and retirees are starting to partake in some of the lowest prices in years.

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