Vail Valley Voices: World market grows
May 28, 2011
Editor’s note: The following is an excerpt from the Vail Homeowners Association monthly report in May. We plan to publish weekly excerpts from the association, which keeps a close eye on economic and political trends in and outside the town. The newsletter’s electronic version with links to supporting documents is available at http://www.vailhomeowners.com.
Vail Resorts is making strides in expanding international markets. They are influencing the town of
Vail to follow suit. Anecdotal indications are that the winter season will see a strong upswing from Latin America, particularly from Mexico and Brazil. The town’s summer marketing program is also putting greater emphasis on the Latin market, particularly Mexico.
Vail business-promotion delegations are making more frequent visits to Mexico. Locally, programs are being created to cater to the needs of an expected influx of Latin American families that are seeking summer-camp programs for the children. Previously, the Latin American summer camp business went to Canada. But changes in visa restrictions have made the United States the new preference.
Vail Resorts has initiated a Spanish-language website, Destinovail.com, to promote winter and summer Vail vacation opportunities. Financial analysts believe that several countries throughout the Latin American market have strong growth potential over the long term.
The ease with which Vail can expand its Latin American market is assisted by the cultural familiarity gained from the growth of the American Hispanic population.
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Growth of Vail’s other multicultural international markets has expansion potential, but they are more problematic and challenging because of distance, language and cultural sensibilities. Each is becoming a more critical factor in strengthening Vail’s high-end destination-guest and residential real estate
Funding for Eagle County Regional Airport up in the air: The Eagle County commissioners dropped their subsidy of flights into Eagle County. This as the importance of the airport has become one of the key factors in building and diversifying the economy of the surrounding region.
The business community is scrambling to replace the lost revenue. In spite of the funding difficulties and a modest reduction in winter service, airlines this winter season filled more seats at higher fares into our airport. Planners are predicting that because of a successful winter season, airlines will become more aggressive in expanding service for the next winter into the Eagle County airport.