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).
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Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)