1/05/2007

Long Beach Economy: Tourism and Trade

"Although the Long Beach Area Chamber of Commerce is projecting a subdued California economy in terms of job growth due to federal policies, high energy prices and a weakening housing market, it does anticipate a stronger Southern California performance. “I’m optimistic about the Long Beach economy,” said Brandon Kline, vice president of public policy and government affairs for the chamber."We have strong performances in international trade, technology, aerospace and tourism. . . . Even though California may have subdued economic expansion next year, I think our local regional economy here in Southern California will thrive because of those things. So, despite that slowdown, our highly diverse business structure is going to enable us to perform at a high level.

"Indeed, the hospitality and tourism sector is poised to continue to do well in the coming year, although substantial growth will be very limited, according to Kyser. “Tourism will probably hold at a high level, and that’s because, literally, we’re running out of hotel capacity,” he explained.

"One “reliable growth engine” marked by Kyser is the international trade sector . . . “International trade is going to be an interesting sector to keep our eye on,” Magaddino agreed, pointing to the significant impact of the weakening dollar on exports. . . . What we’ve seen is continued decline in the dollar, and that makes our exports much more competitive on a global marketplace."
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