Newton Bay is a sparsely populated area. The government plans to build an international airport there and announces this plan pu
blicly. When hotel chains learn about the airport, they become interested in building new hotels near the airport to accommodate travelers. What is the likely economic impact of this situation on commercial real estate in Newton Bay
<em><u>The answer is</u></em>: <u>The economic impact of the airport and hotels would be an increase in the economy of that city.</u>
Explanation:
<em>Since Newton Bay is a sparsely populated area</em>. The new airport as well as the construction of hotels, will give a great economic boost to the aforementioned city, <em>since apart from the travelers, there will also be visitors, which will cause the city to begin to have a greater amount of traffic, and population, some with time can stay to live there</em>, and thus increase the population of the city both by residents and by passing people.
<em><u>The answer is</u></em>: <u>The economic impact of the airport and hotels would be an increase in the economy of that city.</u>
Many people will come to newton bay for vacation and look to buy a vacation home. This will increase the demand for houses helping commercial real estate.
