2011 Colorado Resort Job Growth Forecast per Economist

Here's an uplifting news article about the Colorado resort economy for 2011!

Resort valleys forecast small job growth in ‘11

Economist reviews Colorado

DENVER, Colo. – Resort-dominated counties in Colorado will see employment growth in 2011, according to a projection of the Colorado State Demography Office given at a November conference. 

“Mountain resort communities were hit very hard by the recession, but at the same time, they are one of the industries that I expect will do—I wouldn’t say well, but OK—in 2011,” says David Keyser, an economist with the state office.

Eagle County (Vail) stands out.  Mr. Keyser forecasts a gain of more than 2.5% in employment next year. In 2012, he sees a gain of between 3.1% and 5.5%.  He forecasts more rapid employment growth in other mountain resort counties of Colorado, but none quite as much as in Eagle County.  “I expect a 2 percent job growth in tourism overall—which is pretty good,” he said.

He bases his projections for the resort counties on the idea that they draw business from other parts of the country, but particularly the nation’s more affluent sectors, which have not been as deeply affected by the recession.

This has been confirmed in reports during the last year from resort valleys of the West, where the high-end real estate markets have returned most rapidly, even if prices remain deeply discounted from the 2008 wish-for list prices.

More broadly in Colorado, population growth has continued even during the recession. As it always has been, and maybe always will be, growth has been greatest in metropolitan Denver-Boulder area. The state, now with a population of just over 5 million, is projected to hit 6.2 million in the next decade.