Economy
Traditionally a fishing port, Padstow is now a popular tourist destination. Although some of its former fishing fleet remains, it is mainly a yachting haven on a dramatic coastline with few easily navigable harbours. The influence of restaurateur Rick Stein can be seen in the port, and tourists travel from long distances to eat at his restaurant or cafés.
However, the boom in the popularity of the port has caused house price inflation both in the port and surrounding areas, as people buy homes to live in, or as second or holiday homes. This has meant significant numbers of locals cannot afford to buy property of their own now, with prices often well over 10 times the average salary of around £15,000.
Plans to build a skatepark in Padstow have been put forward and funds are currently being raised to create this at the Recreation Ground (Wheal Jubilee Parc).
Read more about this topic: Padstow
Famous quotes containing the word economy:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)