General Overview
The Muskoka region is one of the province’s leading area for tourism investment opportunities and one of Ontario’s favourite year-round vacation destinations.
Known as a playground for Hollywood and sports celebrities, you can find palatial cottages, upscale yachts, and exotic cars throughout the region. Thanks to the recent rise of fractional ownership properties, the new trends in adventure and ecotourism, and the significant opportunities afforded by those seeking out their personal and family genealogical heritage, the time for growth in the Muskoka region is now.
The region is just a 90-minute drive north of Canada’s business capital and Toronto’s Pearson International Airport.
Tourism has been a key economic driver in the region since the 1800s, and with projects such as the J.W. Marriott resort at the Red Leaves development, and the Gravenhurst Wharf project, the region is again leading the way in tourism development.
“The Gravenhurst Wharf project has had a huge impact on other investors,” says Carolyn Tripp, the site manager for the wharf project for the Town of Gravenhurst. “The wharf has brought new residential development and many other projects to the community and the region. It has developed fast, and that’s been very positive, adding a new tourism destination in an already popular region.”
Muskoka has experienced a 16 per cent increase in property prices since 2005. The average price of a recreational property in this area has more than doubled since 2000 with sales of properties for more than $1 million increasing dramatically.
Muskoka is also a leading golf destination. With courses designed by Nick Faldo, Mark O’Meara, and Thomas McBroom, golfers can enjoy the region's natural beauty at the more than 20 world-class championship golf courses – including the home course of 2003 Masters champion Mike Weir.
“There’s continued growth in the golf/spa combination market,” said John Klinck, economic development officer for the Town of Gravenhurst. “Resort properties such as Taboo and Muskoka Bay continue to expand, and there is ongoing, increasing interest from other investors.”
Mr. Klinck said the major opportunities are in the family-style, roofed accommodation sector.
“With all our properties running at capacity in peak season, and the kinds of year-round opportunities created with our special events, we have a need for casual stay, family-oriented properties,” he said.
Partnerships with other tourist attractions and destinations are a key part of the area’s growth strategy. Heritage sites, such as Bethune House, and ecotourism options are the newest trend in Muskoka.
Fast facts about Muskoka:
- It is the Waterfall Capital of Canada, with over two dozen spellbinding cataracts throughout the region (click here for more information);
- Home to Canada’s largest in-water boat display at the Muskoka Boat and Heritage Centre;
- Site of Bala, Ontario, the Cranberry Capital of Canada and its annual Bala Cranberry Festival;
- Home to more than 2,000 kilometers of finely groomed snowmobile trails;
- The district includes the towns of Gravenhurst, Bracebridge and Huntsville and the townships of Georgian Bay, Lake of Bays and Muskoka Lakes.
For more information on tourism investment opportunities throughout Ontario, please visit: www.investinontario.com/tourism/regionalinvest.asp.