HYANNIS – With the summer months coming to a close and the shoulder season right around the corner, the non-profit organization Love Live Local is looking back on the season that is important to the Cape’s economy.
The summer of 2023 will be remembered as good but not great for the local economy, says Amanda Converse, Executive Director of Love Live Local, with financial situations changing around the country it is difficult to compare this year to previous years.
“2021 and 2022 especially for retailers were banner years. People had a lot more disposable income and we hadn’t quite been hit with price increases, so our retailers the last couple of years did very well,” Converse said.
When stacked up against previous years mentioned by Converse, this summer season does not rival the numbers, but the overall feeling of the region is that it was still a profitable few months.
Prices have not been the only thing that has changed over the years since the pandemic, Converse also noted that the tourism industry took a hit in areas and the uptick in the year round population was not enough to cover the difference.
“I think a lot of people who in the past might have traveled for a weekend, potentially went elsewhere because they could go to Europe or go to other places that maybe were closed off to them in the past couple of years,” said Converse.
The demand for local hotels and motels were some of the locations hit the hardest, but the retailers and restaurants stated that it was a tricky season to maneuver though they were not hit as hard as other areas.
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