It’s official. Travel is back. One bright spot in the economy nearly two years after the COVID-19 pandemic and amid record-high inflation is the travel industry. which is now experiencing record-level surges in travelers. And the trend appears to be here to stay. According to a recent article from Forbes, 49% of Americans report that they plan to travel more while only 8% say they’ll travel less.
While reports of increasing leisure travel have been fairly widespread, one travel trend that’s getting less press is that many travelers are forgoing the usual popular hotspots like New York City, Miami, Los Angeles, and Seattle. Instead, a growing segment of tourists are exploring locations off the beaten track.
More travelers means more business and for CRE that means more new construction and higher lease rates.
Below are ten markets experiencing growth in visitors that may be excellent opportunities for investors and landlords of retail, hospitality, multifamily, mixed-use and land.
Salem, MA is steeped in captivating history, most famously known for the infamous Salem Witch Trials of 1692, making it an intriguing destination for history enthusiasts. In addition, the city’s charming New England architecture, cobblestone streets, and waterfront views create a picturesque setting, perfect for leisurely strolls and exploring its quaint shops, museums, and art galleries.
From bewitching festivals and haunted tours to delightful local cuisine, Salem offers a unique and immersive experience that blends history, culture, and the supernatural, making it a must-visit destination for an unforgettable adventure.
Camden, Maine, is a scenic coastal town nestled between the mountains and the sea, offering breathtaking vistas, outdoor activities, and a relaxing ambiance that makes it an ideal retreat for nature lovers and outdoor enthusiasts.
With its charming harbor, charming downtown area, and a rich maritime heritage, Camden provides a delightful blend of coastal charm, delicious seafood, and a warm, welcoming community that makes it a wonderful destination the perfect getaway.
Sonoma, CA, is a world-renowned wine region with picturesque vineyards and wineries, offering wine enthusiasts the chance to indulge in exquisite tastings, scenic tours, and an immersive wine country experience.
Beyond its wine culture, Sonoma boasts stunning landscapes, including rolling hills, redwood forests, and natural hot springs, providing an ideal setting for outdoor adventures, relaxation, and a taste of California’s captivating beauty.
Tierra Verde, Florida, is a tropical paradise nestled along the Gulf of Mexico, boasting pristine beaches, crystal-clear waters, and abundant wildlife, making it an ideal destination for beach lovers and nature enthusiasts.
The area offers excellent opportunities for outdoor activities such fishing, kayaking, and birdwatching, while also providing easy access to nearby attractions, including Fort De Soto Park, ensuring visitors a delightful and unforgettable coastal getaway.
Bavarian folk culture is alive and well in Leavenworth, Washington. This charming Bavarian-style village is nestled in the Cascade Mountains and offers a unique and picturesque setting that transports visitors to a European alpine town, complete with Bavarian architecture, delightful shops, and delicious German cuisine.
The town hosts numerous festivals and events throughout the year, including the famous Oktoberfest, making it a lively destination where visitors can enjoy live music, traditional dances, and a vibrant atmosphere while surrounded by the stunning natural beauty of the surrounding mountains and rivers.
Sun Valley and Ketchum, ID, are a paradise for outdoor enthusiasts, offering world-class skiing and snowboarding in the winter, as well as hiking, mountain biking, and fishing opportunities in the breathtaking Sawtooth Mountains during the warmer months.
The area’s charming small-town atmosphere, combined with upscale amenities, top-notch dining, and a vibrant arts scene make Sun Valley and Ketchum a perfect destination for those seeking both adventure and relaxation in a picturesque setting.
Whitefish, Montana, is surrounded by stunning natural beauty, including the majestic Glacier National Park, offering visitors unparalleled opportunities for outdoor adventures, such as hiking, skiing, snowboarding, and wildlife watching.
The town itself exudes a warm, welcoming atmosphere with a vibrant downtown, filled with unique shops, art galleries, and excellent restaurants, making it an excellent destination for those seeking a perfect blend of outdoor exploration and charming small-town experiences.
Moab, Utah, is a gateway to some of the most breathtaking and iconic natural landscapes in the United States, including Arches National Park and Canyonlands National Park, where visitors can witness stunning sandstone arches, canyons, and mesas.
The area offers a wide range of outdoor activities for adventure enthusiasts, such as hiking, mountain biking, rock climbing, rafting, and off-roading, making it a mecca for outdoor recreation and a perfect destination for those seeking thrilling experiences amidst the stunning desert scenery. Whether you’re a nature lover, an adrenaline junkie, or simply looking to marvel at the wonders of the American Southwest, Moab is an unforgettable destination that will leave you in awe.
Fredericksburg, Texas, is a charming Hill Country town with a rich German heritage, offering visitors a delightful blend of history, culture, and warm Texan hospitality.
The town is surrounded by picturesque vineyards and wineries, making it a fantastic destination for wine enthusiasts, and it features unique shops, art galleries, and delicious German cuisine, providing a perfect setting for a relaxing and enjoyable getaway. Additionally, Fredericksburg’s proximity to stunning state parks and natural attractions allows visitors to explore the beautiful outdoors, adding to the overall appeal of this quaint Texan gem.
Asheville, NC, is renowned for its vibrant arts and music scene, boasting numerous galleries, live music venues, and a thriving community of artists and artisans, making it a haven for creativity and cultural exploration.
Surrounded by the stunning Blue Ridge Mountains, Asheville offers abundant opportunities for outdoor activities such as hiking, biking, and exploring the scenic landscapes along the Blue Ridge Parkway, providing a perfect balance of urban charm and natural beauty for visitors to enjoy. As an extra attraction, the city is also known for its craft breweries and farm-to-table dining, making it a culinary delight for foodies.
Whether you’re interested in arts and culture, outdoor adventures, or delicious local cuisine, Asheville has something to offer for everyone, making it an ideal destination for a memorable and diverse travel experience.
If you're interested in finding properties to list for sale or lease in these markets or others please visit www.buildout.com today.