Seasonal residents who own a second home on Prince Edward Island, and those who come to visit them are big contributors to the Island economy, says Tourism Minister Robert Henderson.
According to a new report published by the Tourism Research Centre for Tourism P.E.I., seasonal residents and their visitors spend just over $80 million a year in the province.
“It goes to show how important seasonal residents are to the Island economy and tourism industry,” Henderson said in a news release issued this morning.
“They pay property taxes, they pay for upgrades to those properties and they entice visitors to the Island that spend money on things like food and entertainment.”
The report is a profile of visitors to P.E.I. who purchase a seasonal second home on the Island, including details about the types of homes they purchase, how long they stay, how much they spend while here and other details about their demographics and activities.
The report also showed that 94 per cent of second-home owners had friends or family visit them in Prince Edward Island.
Another notable finding showed that only about 34 per cent of those who came to visit second-home owners would have considered coming to the Island had they not known someone here.
“As seasonal residents and, effectively, long-term visitors, second-home owners represent a unique and important segment of the province’s population,” said Dr. Susan Graham, Faculty Director of the TRC.
“They also act as tremendous ambassadors for Prince Edward
Island, by playing host to family and friends that come to visit.”
The survey showed that approximately two-thirds of second-home owners are Canadian and one-third American. Only 1.5 per cent of those surveyed were from another country.
Just over half of survey respondents indicated they have family ties to the province, with about one-third being former residents.
But Prince Edward Island’s appeal as a location for second-home owners appears to extend beyond family connections. Many respondents cited the province’s safe, quiet and relaxed environment as a reason for locating here, while others noted that they wanted a home near water.
Ten per cent indicated they decided to purchase a second home on the Island after visiting to the province as a tourist.
Second-home owners and their visitors participate in many activities while on the Island. Visiting a beach, lake or river is the most popular activity among both groups, followed by shopping for local crafts, antiques and souvenirs.
Several other activities were also very popular amongst these groups, including visiting a national or provincial park, hiking or walking, and going on a driving tour or sightseeing.
To see the full Tourism Research Centre report, visit http://bit.ly/SecondHomePEI.
I think the argument is still the same, but given your comment the argument can be reworded to say that non-residents pay the full tax amount generated by the tax rate, while islanders do not pay the full amount of taxes generated by the tax rate, or in other words, their fair share of taxes. Those "scores of wealthy people" buying PEI land, as you state, are buying the land in most cases from islanders hoping to make good money from the sale of their land. The fact that some or many islanders cannot afford some of the pricier pieces of land theselves is a reality in all georgraphic areas and is not specific to PEI - there is always land that garners a higher price than other pieces of land and people buy what they can afford. I would also suggest that judging by the glut of "for sale" signs on PEI of both lower priced homes and higher priced homes, availability of property on PEi is not an issue. The real issue is ensuring you have a market willing to buy both lower end properties and higher end properties because the real estate market is a critical indicator of economic stability and growth. And specifically in relation to this article, we want to encourage, not discourage, seasonal residents to continue their contribution of millions of dollars to our economy.