Move over, Mickey; there’s a new sheriff in Orlando. A new expansion is coming in 2017 to Disney’s Animal Kingdom – The World of Avatar. Based on the hit movie, The World of Avatar will feature new attractions like a water adventure, called “Na’vi River Journey” (Orlando Business Journal).
Historically, new additions and expansions like this one have attracted over 62 million visitors annually to the Florida city. This huge impact of tourists spurs a large economic impact of around $60 billion, since visitors are spending money on lodging, restaurants, and other services during their stay. In addition, the uptick in tourists will fuel job growth and a healthy economic climate in Orlando.
According to our Q4 Orlando Market Report, the new attractions in Walt Disney’s Fantasy Land and Universal Orlando Resort’s Harry Potter Diagon Alley drew a record 54 million tourists within the first two quarters of 2015. The increase in tourists translated to a phenomenal 7,900 new leisure and hospitality positions. If the World of Avatar follows suit, then even more jobs will be created to maintain this brand new attraction.
So this begs the question…
Real estate investors, have you added Orlando to your portfolio yet?
Now is the time to invest in this tourist-centric city as strong job growth and a record number of tourists fuel demand for rental properties. Ranked as one of the top US cities for job growth, Orlando offers affordable prices and high rents that should entice real estate investors like yourself.
Learn more about why you should be investing in this hot market by downloading our Market Report.