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Real Estate News and Advice |
November 16, 2009 |
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Second Homes: Foreign Travelers Boost 2008 Vacation Home Market
by Broderick Perkins
Make sure your 2008 vacation home marketing includes an international outreach effort. More travelers from abroad are coming to America this year. The same weak U.S. dollar that's enticing foreigners to buy vacation homes in America will also give foreign tourists more travel for their bucks. And travel bargain hunters typically look to vacation homes for extra value. According to Destination Hotels & Resorts, 99 percent of customers who have stayed in a vacation rental would stay there again. The Travel Industry Association forecasts that foreign travel expenditures in the U.S. will amount to nearly $99 billion in 2008, up more than 7 percent over 2007. Domestic travel spending should come in at nearly $680 billion, but that's only a 5 percent increase over 2007. Four percent more foreigners will visit the U.S. in 2008, compared to 2007, but the number of domestic travelers will increase by only 2 percent, according to the Travel Industry Association. Tourists who want both home-like amenities and the best stay for the money often look to the vacation home rental market to fulfill both needs. Travel guru Ed Perkins says in 2008, vacation rentals offer the best antidote to rising hotel rates and the Internet makes finding travel housing easy. Published: January 17, 2008 Use of this article without permission is a violation of federal copyright laws. Related Articles:
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