Developing a Niche Economy

Over the last 20 years many of the Southern US States have carved out an economic niche in the US economy.

The region has become hugely competitive in professional services, manufacturing and of course tourism. As much of US industry relocates from the 'rust belt' States it is the South that has been benefitting.

South Carolina in particular has experienced significant growth over this period successfully diversifying its economy. Between 1990 and 2000, the state attracted more than $48 billion in capital investments and created more than 237,000 new jobs.

Tourism has become a major economic asset. The state of South Carolina attracts over 28 million tourists each year. This has created exceptional opportunities for lifestyle investment and holiday lettings along with significant potential for future demand. South Carolina has become extremely popular due to its central position within America's golf belt, for its family friendly tourist spots such as Myrtle Beach, for its 'Grand Strand', its stunning Southern architecture, but also for some of the most spectacular scenery in the US with an abundance of lakes, forests and beautiful coastline. It has become a focal point for 'outdoor tourism'.

The tourism and travel industry directly and indirectly creates more than 201,000 jobs for state residents and contributes more than $9 billion to the Gross State Product (GSP). This is anticipated to grow to $17 billion by the year 2010. Outdoor recreation excluding golf, is credited with attracting 9.6 million visitors annually and generating nearly $1.9 billion in expenditures.

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