Rob Salvino discusses economic impacts of Hurricane Florence

Research economist Robert F. Salvino, director of the Grant Center for Real Estate and Economics at Coastal Carolina University, was featured on WRNN 99.5’s “Morning Show with Dave and Liz” on Oct. 2, 2018, to discuss the economic impacts of Hurricane Florence on the Grand Strand.

Hurricane Florence developed in the Atlantic at the end of August and ripped through the Carolinas last month. Though the storm downgraded to tropical storm levels, it dumped vast amounts of rain on the area. Horry and Georgetown counties experienced historic levels of flooding that has affected highways, roads, homes and businesses – including Coastal Carolina University – throughout the Grand Strand.

Salvino, an associate professor of economics, discussed the storm’s immediate and long-term impacts on the local community on the show. Citing work by CCU professor Taylor Damonte, director of the Clay Brittain Jr. Center for Resort Tourism, Salvino said the hurricane, flooding and mandatory evacuation order resulted in great loss for many local businesses, including a “…65 percent decrease in the hotel occupancy rate from the previous year.” 

However, Salvino remained optimistic that the impacts will only be short-term. Despite the loss of revenues after the storm, he believes there will not be a long-term negative impact on the local and regional economies. Full audio of Salvino’s appearance on the Morning Show can be accessed here.

Salvino will join other speakers on Oct. 24 at the Asher Theatre in Myrtle Beach for the Economic Development and Infrastructure Forum to further delve into this topic. The forum is presented by the West of the Waterway Council in partnership with the North and South Strand Councils. Attendees will learn the latest updates on road projects, air service and economic development along the Grand Strand. The forum is open to all MBACC investors. Click here to register.