Document Type
Book Chapter
Publication Date
2024
DOI
10.25776/ryty-bc04
Publication Title
The State of the Region: Hampton Roads 2023
Pages
33- 61
Abstract
There was (mostly) good news to report about the pillars of the Hampton Roads economy in 2024. More defense spending flowed into the region. While cargo traffic declined at the Port of Virginia in 2023, the declines were mainly driven by outbound cargo traffic. The declines at the Port were also proportionally less than many other ports across the nation. Nominal hotel revenues continued to climb, but real hotel revenues fell in 2023 as occupancy rates dipped slightly. The hotel industry, however, continued to outperform the state and the nation.
Repository Citation
Dragas Center for Economic Analysis and Policy, Old Dominion University, "Part 2: Defense, the Port, and Tourism: The Pillars of the Economy" (2024). State of the Region Reports: Hampton Roads. 214.
https://digitalcommons.odu.edu/sor_reports/214