Last week, the Savannah Area Chamber of Commerce’s 2023 Economic Outlook luncheon took place at the Savannah Convention Center. More than 800 members gathered to hear the annual economic forecast for regional, state, and national levels presented. Georgia Southern University’s Dr. Michael Toma provided the Savannah Area forecast, and UGA’s Dr. Benjamin Ayers, Dean of the Terry College of Business, provided the state and national forecasts.
Both economists stated that Savannah would benefit from tourism and the Georgia Ports. Economic development will also increase with the incoming Hyundai Electric Vehicle Plant, which is projected to bring thousands of jobs to the city and several associated projects. According to Dr. Ayers, the US is forecasted to undergo a slight nationwide recession; however, the Savannah area will fare well because of the regional projects already in motion, future expansion projects, and billions in new capital investment.
To access the Savannah Economic Outlooks Trends 2023, click here.