The 2017 report is divided into seven parts:
Turning the Corner: The outlook for increased regional economic growth has improved. Each of the major building blocks of our regional economy (defense, the Port, tourism) has gained momentum and our housing market continues slow, but steady improvement.
Airbnb in Virginia Beach: Airbnb has arisen as an increasingly significant competitor to conventional hotels throughout the United States and Virginia Beach is no exception. The rise of Airbnb is yet another manifestation of the emergence of the “gig” economy.
Higher Education Pricing: The typical public four-year college in Virginia has increased its tuition and fees two to four times as rapidly as the rise in the Consumer Price Index. Reduced state appropriations can account for only some of these increases.
Changing Delivery of Health Care: Health care in our region increasingly is being delivered by non-physician professionals who include nurses and physician assistants. We trace the development of this trend and its implications for the future.
The Opioid Crisis: The number of opioid-induced deaths has skyrocketed in Hampton Roads. Approximately three-quarters of opioid addicts began their fall from grace with a legitimate prescription from a knowledgeable physician. We estimate the costs.
The Decline of Foreign Language Instruction: Foreign language instruction has declined in Hampton Roads and immersion programs are relatively rare. This is not a positive development insofar as our ability to conduct international trade, understand world developments, or even communicate with many other Americans.
Do We Suffer from a Brain Drain? Hampton Roads has been experiencing net outmigration of individuals to other metropolitan areas in recent years. Who is leaving? Why are they leaving? We address these questions and their implications.
The Report is sponsored by the Virginia Chamber of Commerce and supports the Chamber’s Blueprint Virginia strategy for stimulating economic development. Neither the Chamber nor Old Dominion University, however, endorses any viewpoints expressed in the Report.