Resort Economy
The Resort economy of Resorts and Hotels is geared almost entirely towards catering to tourists, with most residents of the area working in the tourism or resort industry. Shops and luxury boutiques selling locally-themed souvenirs, motels, and unique restaurants often proliferate the downtown areas of a resort town.
If the resorts or tourist attractions are seasonal in nature (such as a ski resort), resorts typically experience a on-season where the town is bustling with tourists and workers, and an off-season where the town is populated only by a small amount of local year-round residents.
In addition, resorts are often popular with wealthy retirees and people wishing to purchase Vacation homes, which typically drives up property values and the cost of living in the region. Sometimes resort towns can become boomtowns due to the quick development of retirement and vacation-based residences.
However, most of the employment available in resort towns are typically low paying and it can be difficult for workers to afford to live the area in which they are employed. Many resort towns have spawned nearby bedroom communities where the majority of the resort workforce lives.
Resorts towns sometimes struggle with problems regarding sustainable growth, due to the seasonal nature of the economy, the dependence on a single industry, and the difficulties in retaining a stable workforce.
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