Newfoundland Economy, Real Estate and Tourism

March 1, 2008 · Filed Under St. John's Real Estate · Comment 

Today, The Telegram included a “Horizons” section in the Saturday paper. Horizons is an Annual Business and Industrial Review and Forecast. It was evident that the pages were filled with talks of boom and wealth for Newfoundlanders. I was fortunate enough to receive a call last week for an interview with The Telegram for the real estate portion. How was I contacted - this blog. Other then the fact my name was spelled incorrectly I was pleased.

As I read through Horizons it was interesting to note the various headlines were powerful and promising. Article titles read “oil wealth driving provincial economy, impending boom, real estate hot thanks to Hebron Ben Nevis, growth and innovation in changing times, commercial industry growing.” Not only is Newfoundland and Labrador’s capital city St. John’s noticing a significant increase in the housing market, but Torbay, Flatrock and Conception Bay as well.

Tourism was another hot topic. References to new hotels in the downtown St. John’s (five hotel proposals) and a flourishing cruise industry. 61,000 tourists are expected to visit “The Rock” for 2008 via cruise lines.

It’s clearly one of most promising times for Newfoundland.