Jun 9, 2008 9:09 pm US/Eastern
Key West Still Close Enough For Economic Problems
Tourists aren't spending as much disposable income as they were in previous years.
KEY WEST (CBS4) ―
It may be far removed from the mainland, but even Key West is not far enough away to escape the economic meltdown currently gripping the nation.
The music always plays in some parts of Key West, but the formerly packed Duval Street, now looks completely out of the ordinary. The economic crisis is leaving everything, including Margaritaville, hitting some sour notes.
"Some days are good and some are bad," said Roy LLoward, a pub employee. "Business is really slow right now…hot and slow," said Raymond Rodriguez, a local restaurant owner.
According to Florida Keys Tourism bosses, the hotel industry held it's own through the early part of spring, but the visitors are simply not spending like they once did before gas prices exploded to over $4 a gallon.
"Well, what do you think is happening? Perceived recession…petrol prices. People are still coming, but perhaps not spending as much as they did before," Lloward said.
Still, the Keys have seen many economic busts and booms in the past, and even the worst Mother Nature can throw at it. All that's left for Key West industry commerce is to wait and hope this economic downturn will not be a long one.
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