Mountains may shelter the Coachella Valley from undesirable weather patterns that affect those beyond the desert, but could protect us from the economy. Despite its resort lifestyle, the desert has felt the pain of the past 18 months.
However, vast resources also put the valley on the cutting edge of what economists think will be the way out of the recession. Since the recession started the housing prices have fallen further than they had risen. Retail sales shriveled as national chains closed and left and local shops too.
All three major golf tournament revenues were down more than 20%. Convention and tourism bookings are down 12.7%.
With this all said, there are events succeeding in this challenging economy.Dinah Shore week was up 50%. Modernism Week in Palm Springs was up 24.9%.Good planning by the Coachella Valley Water District has resulted in an excellent supply of water in the largest underground aquifer in the world.
Adversity forces people to think out of the box and refine their business models.Throughout Coachella Valley there are signs this is already happening.Cities are operating as a team to streamline procedures and accomplish tasks. Tourism agencies are working to stimulate the local markets. Valley economic agencies are stepping up efforts to create public- private partnerships to diversify the local economy. While the faces of the valley's nine cities are very different, the recession is forcing everyone to find common ground on which to grow
The Lori Bowers Group
78015 Main St., Suite 110
Old Town La Quinta
La Quinta, CA 92253
Phone: (760)777-8788 • Fax: (760)771-5355