We believe staying abreast of economic conditions is critical to making the right choices in commercial real estate. We will share our thoughts and insights into economic conditions in Savannah and the South Carolina Lowcountry to make sure our clients have a current perspective.
As of now, the local economy is expected to remain strong as growth reached a more sustainable rate in 2024 according to analysis of the area. Future growth should continue to be anchored by the local economy’s pillars such as Georgia Ports Authority activity, tourism and manufacturing,
Industrial expansion continues to experience above-average growth dating back several years, and that growth will likely continue for the next several years. The boom in manufacturing growth is clearly led by the Hyundai Metaplant and its suppliers.
Tourism continues to be an anchor in Savannah in particular. Recent reports indicated that a 6.5% surge in visitor spending in 2023 with a total of more than $4.7 billion spent in Savannah and Chatham County in 2023.
Check back each quarter for more insights into our local economy!