G-8: Economic Impact

Now that it's official that the G-8 summit will be here next year, what kind of economic impact can the Coastal Empire expect? WTOC spoke to some business leaders to get their perspectives on the possible impact, and they are saying this is a major deal. Just to give you some figures, last year when the summit was held in Evian, France, the direct expenditures were in excess of $250 million dollars.

The Hostess City will have to get ready to host a very large international crowd. With thousands of visitors expected to swarm over Savannah next June, the president of the Tourism Leadership Council, Mark Spadoni, says the economic impact could be huge.

"An event of this magnitude, I think it would be something very good for the community," he said.

And good for businesses. For the hotels, some of that business is already promised. According to the Chamber of Commerce, up to 5,000 guest rooms, each for for three nights, are already in place for international representatives and media. With all these people coming to spend the night, and their money, Savannah has the potential for international recognition.

"More and more, south Georgia is being recognized as a place where things can happen," said Spadoni.

Reported by: Nicole Teigen, nteigen@wtoc.com