People usually think of Napa Valley as a place where they can live in luxury and style. The good wines, elegant homes and friendly neighbors enamor people of different lifestyles to stay in this charming place.
However, Napa Valley is more than an ideal place of residence. In fact, many people stay in Napa Valley because of its high income-generating potential. Its booming wine industry continues to bring considerable returns for winery and property owners in Napa Valley.
A look into Napa Valley’s Booming Wine Tourism
The 2012 Napa Valley Economic Impact Study revealed that wine tourism is one of the reasons residents are thriving. Researchers found that there were around 2.94 million visitors in 2012 who have come for fine dining and wine tasting, which created $1.4B in tourism spending.
The figures would still be high off-season or per individual basis. Researchers noted that visitors spent an annual average of $10,027 per Napa Valley resident. In addition, more than 13,400 visitors spent an average of $3.8M on normal days.
The booming wine industry of Napa Valley also spurred the demand for accommodations in the area. The study revealed that overnight guests to Napa County’s lodging properties contributed around 73.6% of the 2012 spending. Every person would spend around $355 per day for a three-day stay.
A Leading Destination for Investors
Such are the business opportunities of properties in Napa Valley that even foreigners are taking notice. Investors from China, Hong Kong and other parts of Asia are buying vineyards in Napa Valley because of its high tourist visits as well as worldwide reputation for producing high-quality wines. Wine exports from California to China rose by 300% in the past years, reaching $70 million in 2013.
Napa Valley – A Worthwhile Investment
These figures merely suggest that buying a property in Napa Valley is a worthy investment. People may use its fertile soil to make excellent wines. They may also build or buy existing properties for leasing to tourists on a holiday or for prospective tenants with a taste for wine.
People may explore many investment opportunities in Napa Valley if they have the right property. We can lend you our expertise in this regard.
At Gates Estates, we can help you find the right property that suits your needs. We have access to various residential properties and vineyards in Rutherford. You will enjoy a good life or even start a winery business in Napa Valley with our assistance.
Click here for more information on our services.