When it comes to the local economy, all the news surrounding Naples is GOOD news! Naples tops the list of communities where your real estate investment is on the rise and where local economic indicators show growth.
Naples is a vibrant community with a thriving business climate. Take a look at these examples from recent news stories.
First, let’s look at the GOOD news in tourism. According to the Collier Tourist Development Council, 2014 is shaping up to be a record-breaking year for tourism and tourist spending. In the first half of 2014, Collier County welcomed over a million visitors. Tourist spending grew more than 11% compared to last year. In the month of June (notably, after the “season” had ended), tourist spending spiked at 14% higher than 2013 levels. Visitors stream to Naples from around the United States and around the world. It’s fun to stroll through the Waterside Shops or sit back at a cafe downtown and hear the variety of languages spoken! Spanish, Dutch, German, French, Portuguese, Swedish, Japanese - Naples draws them all when summer holidays arrive.
Next, let’s look at the GOOD news in our local job market. According to Forbes Magazine, Naples leads the way nationally in job growth. Naples is expected to have the fastest job growth rate among the 200 largest US metro areas with an annual rate of 4.1% through 2016. Unemployment in Naples sat at just 5.4% last month. The Forbes article notes strong forward momentum in Florida’s tourism and retail sectors, with Naples leading the way in both areas. These gains are fueling local construction, service jobs, and retail businesses.
There is more GOOD news when it comes to home values as well. Single-family home price growth is slowing nationally, but prices in Collier County continued to soar a a phenomenal pace according to two new research reports. Nationwide, prices were up 8.8 percent over last year. But here in the greater Naples area, prices increased 14.3 percent. Those who follow my blog get a regular glimpse of our local market; it’s great to see that Naples outpaces the national year over year numbers by a good stretch!
Put it all together and you’ll see that Naples rises to the top of the list. A strong economy is a sign of a community where great things are happening - and a community that invites you to be part of it all!
