usvi-on-line
Discussion: economy
Discussion: economy
Maybe this is off topic but it really isn't if you look at the whole picture.
Last year I noticed a lot business in the Virgin Islands was closing down--maybe it was just shifting ownership. I don't have any idea.
My point is--has the slow economy caused difficulties for the USVI? I know there are a lot of reports about tourism in general but wondered about St. John specifically.
Also, do you, as tourists feel like you are going to have to go to St. John less? Be more budget conscious??
Just wondering.
I almost feel guilty about going this year. Our small town has had a lot of difficulty with layoffs.
Gina
Last year I noticed a lot business in the Virgin Islands was closing down--maybe it was just shifting ownership. I don't have any idea.
My point is--has the slow economy caused difficulties for the USVI? I know there are a lot of reports about tourism in general but wondered about St. John specifically.
Also, do you, as tourists feel like you are going to have to go to St. John less? Be more budget conscious??
Just wondering.
I almost feel guilty about going this year. Our small town has had a lot of difficulty with layoffs.
Gina
Oh boy...I will dance lightly here...
This "slow" economy hasn't affected us much yet. Not to say that it won't, because if things continue on this path, it will affect all of us sooner or later. We haven't had to curtail our travel plans yet - hopefully that will remain the case.
Although, this economy has obviously had a negative impact on my 401-k (i'm sure that is true for most). However, being 31, I tend not to worry about that too much - believing instead that within a few years if not months, it will be right back where it belongs. If you are someone close to retirement, I could see why this would worry you and make you think twice about any vacations you may or may not take.
One somewhat political point I will make...When I hear people ask "Are you better off today than you were 4 or 8 years ago?"...I am absolutely, without a doubt, better off. Of course, I am on the upward curve in terms of the career, but better off is better off.
This "slow" economy hasn't affected us much yet. Not to say that it won't, because if things continue on this path, it will affect all of us sooner or later. We haven't had to curtail our travel plans yet - hopefully that will remain the case.
Although, this economy has obviously had a negative impact on my 401-k (i'm sure that is true for most). However, being 31, I tend not to worry about that too much - believing instead that within a few years if not months, it will be right back where it belongs. If you are someone close to retirement, I could see why this would worry you and make you think twice about any vacations you may or may not take.
One somewhat political point I will make...When I hear people ask "Are you better off today than you were 4 or 8 years ago?"...I am absolutely, without a doubt, better off. Of course, I am on the upward curve in terms of the career, but better off is better off.
July 2003 - Honeymoon at The Westin
July 2004 - Glenmar, Gifft Hill
July 2005 - Arco Iris, Fish Bay
December 2007 - Dreamcatcher, GCB
July 2008 - Ellison Villa, VGE
July 2004 - Glenmar, Gifft Hill
July 2005 - Arco Iris, Fish Bay
December 2007 - Dreamcatcher, GCB
July 2008 - Ellison Villa, VGE
LOL soxfan, I told my mom to not even open her 401K--just throw it in the file and forget about it. It will recover and they will be fine.
I wonder if we are just rare--we are so much better of now than 8 years ago.
I haven't seen any travel sites with the loyalty that St. John has so I wondered if they are weathering this better than others.
I wonder if we are just rare--we are so much better of now than 8 years ago.
I haven't seen any travel sites with the loyalty that St. John has so I wondered if they are weathering this better than others.
I don't know about that. I'm sure some of the locals among us here will have insight on that.GinaXOXO wrote:
I haven't seen any travel sites with the loyalty that St. John has so I wondered if they are weathering this better than others.
One thing to look at though is attendance at Walt Disney World...Sounds funny - but whether you like it or not, it is the #1 vacation destination in the world. I remember for about 6 months after 911, that place was a ghost town. I did an Internship there for 2 summers in the late 90's, and I remember some of my friends who were still there for that period saying they were sending people home (cast members).
Anyway, my larger point is that that place is so expensive...We always laugh at how relatively "cheap" a St. John trip is in comparison. Once things start to slow down in places like that, I would think the Islands would be hit shortly thereafter.
July 2003 - Honeymoon at The Westin
July 2004 - Glenmar, Gifft Hill
July 2005 - Arco Iris, Fish Bay
December 2007 - Dreamcatcher, GCB
July 2008 - Ellison Villa, VGE
July 2004 - Glenmar, Gifft Hill
July 2005 - Arco Iris, Fish Bay
December 2007 - Dreamcatcher, GCB
July 2008 - Ellison Villa, VGE
We are definitely financially better off today than 4 or 8 years ago but I think that's just because of the upward trajectory of our careers -- we too are fairly young. Mid-30s. My 401k got HAMMERED but I have lots of time and figure I am buying up cheap and will ride the wave back up. The market will recover (with or without intervention) eventually.
As for STJ travels, the thing that is making me slow down with my travel plans is the question mark of airfare. Typically we have been able to score frequent flyer tickets for our trips - I think we've cashed in 7 or 9 FF tickets. Free airfare really makes STJ only marginally more expensive than anywhere else to us. I still haven't bought tickets for our 09 trip though we have the house booked and I am watching closely, hoping that we can use our miles. If we have to pay for airfare for 4 its quite a hit in that it adds at least $2000 to our vacation tally.
I blame the kids. If it were just my hubby and I, I wouldn't think twice, but $2k just to get there will make me think about other driveable options.
As for STJ travels, the thing that is making me slow down with my travel plans is the question mark of airfare. Typically we have been able to score frequent flyer tickets for our trips - I think we've cashed in 7 or 9 FF tickets. Free airfare really makes STJ only marginally more expensive than anywhere else to us. I still haven't bought tickets for our 09 trip though we have the house booked and I am watching closely, hoping that we can use our miles. If we have to pay for airfare for 4 its quite a hit in that it adds at least $2000 to our vacation tally.
I blame the kids. If it were just my hubby and I, I wouldn't think twice, but $2k just to get there will make me think about other driveable options.
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piscesgirl0314
- Posts: 598
- Joined: Thu Sep 25, 2008 12:31 pm
- Location: Chesapeake, VA
hmmmm...I don't know that I think St John is a "cheap" vacation destination...we are coming from Virginia and our airfare in June 2007 for my husband, daughter and I was $2100.00...we rent villas but love eating out...so its not a cheap vacation for us...we have not been effected too much by whats going on with the economy. My husband works for the Department of Defense and I work in the health care industry. We are lucky to have solid jobs. I'll be 40 in March and not overly concerned about whats going on with our 401k's...I worry about others that aren't so lucky and keep my fingers crossed that things will calm down...I WILL be glad when the election is over...
Speaking as someone a little older than the other "repliers" (mid-40's) I think that if we hadn't already book our June '09 trip we might not be going as a result of the last few weeks. We have to send our first off to college next year and so much of his college savings has been wiped out. We don't have 3-5 years to make it up. And our daughter is only a few years behind him. I'm not as concerned about the 401K. We still have time for that. I am a firm believer in the cyclical nature of the market/economy and believe that things will get better. They always have. So I guess it just all depends on where you are in your life cycle when the market/economy takes a down swing.
MCDomzal
When we visited St. John just a couple of weeks ago, I did feel like a lot of businesses were either closed or very, very slow. Granted, we were there in the deep off season, but still... three people at The Beach Bar at 3:00 on a gorgeous Saturday? I also spoke with a guy who oversees maintenance at the Westin and he said their occupancy numbers were especially low. I noticed many, many houses for sale and we got approached by people begging for money on this trip - the first time I've ever had that happen to me in the Caribbean (and I've been over 10 times to multiple islands).
I do think the economic problems are hitting the Caribbean, and I fear that some islands will see an increase in crime as a result. Desperate times and all that...
As far as me personally, we don't have any other trips on the books, to anywhere. I am stock-piling cash and paying off as much debt as we can. I am in real estate law, and let's face it, times are tough. My firm has done the right thing and kept on its attorneys who are already trained (while turning away new hires), but I am definitely going to have to adapt. It's looking like I'll start training in litigation, divorce and/or criminal.
Until I have sure footing here at work, I doubt I'm going anywhere. My husband is in the relatively-secure tech field, so I think we're okay there for a while.
I do think the economic problems are hitting the Caribbean, and I fear that some islands will see an increase in crime as a result. Desperate times and all that...
As far as me personally, we don't have any other trips on the books, to anywhere. I am stock-piling cash and paying off as much debt as we can. I am in real estate law, and let's face it, times are tough. My firm has done the right thing and kept on its attorneys who are already trained (while turning away new hires), but I am definitely going to have to adapt. It's looking like I'll start training in litigation, divorce and/or criminal.
Until I have sure footing here at work, I doubt I'm going anywhere. My husband is in the relatively-secure tech field, so I think we're okay there for a while.
Picesgirl quote: “I worry about others that aren't so lucky and keep my fingers crossed that things will calm down..”
So do I. Also, I am not really mentioning to anyone that we are going—our community has been hit with a fairly hard blow and we are concerned that there are going to be more layoffs.
My husband and I own a business and things are slow. We are keeping everyone busy and aren’t concerned that we will have to lay anyone off but we don’t need any more help. We get calls and walk in’s from people looking for work almost daily. There are people we know and people we know would be great employees but . . . we can’t hire now. It doesn’t feel too good. So, that is why I am not going to mention we are going on a wonderful vacation. Last year . . . it was all I could talk about. (:
MC: we are also 40 and we have one going to college next year and one going in 4 years. We are in very similar situations. We didn’t invest in market type savings. We ok—this sounds strange—but we put money in windmills. So, we are going to be ok. But again—I feel bad for others. I have heard that many universities will have to lower their tuition. So, I am still hopeful.
Alw: I am so sorry to hear that. I hoped that St. John was doing ok. Well, I guess you can look at is as and opportunity to change your specialization.
Darn, I have to run. I will check in with you all later. I wondered if anyone had any ideas about bringing anything that would help. On other trips we brought small bills to help.
Later,
Gina
So do I. Also, I am not really mentioning to anyone that we are going—our community has been hit with a fairly hard blow and we are concerned that there are going to be more layoffs.
My husband and I own a business and things are slow. We are keeping everyone busy and aren’t concerned that we will have to lay anyone off but we don’t need any more help. We get calls and walk in’s from people looking for work almost daily. There are people we know and people we know would be great employees but . . . we can’t hire now. It doesn’t feel too good. So, that is why I am not going to mention we are going on a wonderful vacation. Last year . . . it was all I could talk about. (:
MC: we are also 40 and we have one going to college next year and one going in 4 years. We are in very similar situations. We didn’t invest in market type savings. We ok—this sounds strange—but we put money in windmills. So, we are going to be ok. But again—I feel bad for others. I have heard that many universities will have to lower their tuition. So, I am still hopeful.
Alw: I am so sorry to hear that. I hoped that St. John was doing ok. Well, I guess you can look at is as and opportunity to change your specialization.
Darn, I have to run. I will check in with you all later. I wondered if anyone had any ideas about bringing anything that would help. On other trips we brought small bills to help.
Later,
Gina