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West Texas: Predictions About The Future Economy

The economy in most part of West Texas is steady in the recent oil boom and local companies are busy in extracting and purifying oil. Ray Perryman who is a well-known economist told that the oil will remain imperishable for a long time. The city primarily attracts vocational staff which comes to Midland for a better future. Secondly, many tourists come to the city to visit its attractions which include museums, Forts, parks etc. The RV Parks will remain economical in future for all the visitors as compare to the hotels. The economy in most part of West Texas is steady in the recent oil boom and local companies are busy in extracting and purifying oil. Ray Perryman who is a well-known economist told that the oil will remain imperishable for a long time. One of his predictions, oil prices will remain in the current range they're in and in the long-run we are still in the situation where supply is going short of the demand and prices will climb which will be beneficent for the Texas and especially for Midland which contains 16%of the state’s oil. The oil and gas in the area is booming and other things like retail, restaurants, hotels and rental real estate are doing well. This Basin will continue to grow rapidly with more people coming to the Basin in search of


jobs because the ratio of jobs is quite high here. The economy of Midland similarly expanded payrolls by 6.2 percent over the past 12 months which is the second largest gain nationwide. Perryman has said that the economy of this state is amongst the healthiest in the country over the next several years but there are some threats that could affect us locally. A lot of things going on in Europe right now that could cause some slowdown in the world economy which would in turn affect oil prices. It's not that we are not at risk here, but fortunately, we have an economic basis today is much more stable than what we are seeing in a lot places in our country and around the world. The people who come to visit Midland’s attractions and to attend the events like Summer Mummers and Rocking the Desert faces price hike due to a rapid increase in rental residency rates. The reason of this price hike is the increasing number of vocational staff which travels to Midland, Texas. The average monthly rent was $880 which has now increased to $1100 and according to the latest census report the population of midland has an increase of 4.6 percent in only a year which has also affected rental prices. The high rental residency rates have increased the trend of staying at RV Parks and due to a huge increase in the rents of hotels and flats have made RV Park Midland, Texas one of the prime options. It is located near Midland and every part of the city can be reached conveniently from this RV Park. Currently, this spot has gained a high visit rate due to the economic pricing and up to the mark features. Surely, it is a spot which every visitor is looking for stay at low price. One Hundred and One hookup places, welcoming staff, efficient laundry service, Wireless Internet connection, tidy restrooms with nice interior and washrooms for a refreshing shower after long hectic journeys are the main facilities offered to the guests. Hence, the city primarily attracts vocational staff which comes to Midland for a better future. Secondly, many tourists come to the city to visit its attractions which include museums, Forts, parks etc. The RV Parks will remain economical in future for all the visitors as compare to the hotels.


West texas predictions about the future economy