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

Business Owners from hotels, 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. Many tourists that typically plan to vacation in the Gulf have adjusted their travel plans because of the high impact the oil spill has created in the waters along the beach and resort areas. Many vacationers are concerned they will encounter beaches fouled 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 concerned about changing their holiday location 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 policy 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 has outfits 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.

Hotel occupancy numbers along the Grand Strand have been up since the fourth of July holiday weekend, but this year there is another reason people are making their way to the Carolina coast.

For the July Fourth holiday weekend according to AAA there was marking a 17 percent increase from last year. Although many business owners are saddened by the crisis in the gulf, they are thankful for the recent increase in business.

The Carnivale Motor Inn has said that they are currently averaging 15 or more calls each day. Many resorts are reporting that this is their best summer in over two years. Many resorts are saying that good majority of the visitors seem to be Floridians.

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 the Gulf for retirement are changing focus. 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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