Green Shoots and False Dawns

Listed on November 13, 2014 in Blogs!

Economic recovery is often described in metaphors. Swallows and spring also come to mind. Theorists try to describe economic theory in scientific or mathematical terms but they are often wrong. Some people believe the dynamics at play are more emotional but many don’t like that because it can’t really be measured. Confidence is an impossible thing to predict and I dare say it is very uneven. Not all parts of the economy recover at the same rate and ‘local factors’ have a large part to play. These reflections are all part of a preamble concerning the state of the conference market here in Somerset and the South-West more generally. As most of you know, this work is an important element of our work as the diary tells us that it is what we do most of – both on a residential and non-residential basis. The same diary tells us that something is stirring strongly from several years of slumber. The conference market is coming back strongly and about time too. The economic collapse of the banking sector in the latter part of 2008 had a devastating and multiplier effect on the regional economy as well as unforeseen consequences on the public purse and the organisations dependant on it. All businesses and all market sectors have been affected. Despite continuing difficulties in the public sector during this age of austerity, the private sector is finally finding its confidence to get back on its feet and start planning for a new future. This is good news indeed for Dillington and for the rest of the regional economy.