The release of CommSec's latest "State of the States" report for January 2015 shows that South Australia has plenty of room to grow. But with a world class event like the Tour Down Under happening this week, there's one thing for sure – the only way is up.
It was good news for cycling enthusiasts both in Australia and overseas when Government of South Australia minister for tourism Leon Bignell confirmed that the biggest cycling race outside Europe, the Santos Tour Down Under, was going ahead as planned. It has been a difficult few weeks for Tour Down Under organisers, with record temperatures and bushfires putting the original racing routes through areas north east of Adelaide in doubt.
So if you were ever at a loss to find reasons to consider investing in real estate in Adelaide, this is just one. First held in 1999, the Santos Tour Down Under has expanded each year to become the biggest cycling race in the southern hemisphere. This year's event began on the evening of January 17 and rolls for nine days, with routes planned around regional South Australia and finishing in Adelaide.
The Santos Tour Down Under continues to be a resounding success as Australia's premier cycling event, as well as significant stalwart of the South Australia tourism calendar. As many as 762,266 spectators attended the event in 2014 alone, with the huge number spectators providing a massive economic boost for the South Australian economy. The tour generated $45.9 million for the State economy in 2014, $2.3 million more than in 2013.
Keeping the Tour Down Under alive for another year is a perfect example of the commitment local and state government has to positively attracting people and investment to Adelaide – both of which help to provide important momentum in the economy for the years ahead. You might even consider making the most of the tour – and the state's burgeoning tourism industry – with seasonal accommodation or rentals in Adelaide for both domestic and international tourists.
Not only does it offer you a supplementary source of rental returns, but the boost that these visitors bring to South Australia is immense. Be sure to consult with your real estate agent about the financial feasibility of this option, and how you could play your part in Adelaide's growing economic future.