How does the stock market affect tourism?

Baer Tierkel

If you don't own stocks or have a retirement account, it's tough to feel affected by the nausea inducing ups and downs from the current market.

Consumer confidence can have ripple effects in the tourism industry. People may not splurge on vacations and would-be retirees may put their plans on hold. Then again, our low cost of living and affordable amenities could make us priority choices for those that need a getaway despite tightened budgets.

We've already established that it's difficult to even track tourism performance. Local experts are currently telling us that occupancy is down, but hotels have raised their rates. Dr. Taylor Damonte with Coastal Carolina University's Clay Brittain Jr. Center for Resort Tourism will present at today's City of Myrtle Beach Council meeting regarding our 2011 performance. Lindsey Theis of WPDE asks Damonte what we can expect and how the stock market woes affect those numbers. Read it here.

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