2026 Savannah Chamber of Commerce Economic Outlook Luncheon offers predictions on year ahead from industry experts

SAVANNAH, Ga. (WTOC) - It’s not just the rich heritage and historic atmosphere that keep people coming to Savannah year after year.

The Hostess City is also home to many major industries, aside from tourism, that draw millions to the area every year.

With nearly 13 million visitors coming to Savannah in 2024, we are the nation’s largest historic landmark district. There is so much to Savannah-- and 2026 is set to be another great year, according to local experts.

Chatham County is the 5th largest in the state-- but the biggest economic leader.

After a year of dealing with inflation, tariffs, and concerns of a recession-- experts with the University of Georgia and Georgia Southern say they predict things will turn around slightly.

There is some trade uncertainty, slowed population growth, and a decline in the labor force, but experts are hopeful for the year ahead.

“Savannah’s economy in 2026 will outperform the state of Georgia and will outperform the U.S. Economy,” said Michael Toma, Professor at Parker College of Business, at Georgia Southern University.

Wednesday’s predictions at the 2026 Economic Outlook Luncheon are meant to help businesses, local leaders, and the community better understand what lies ahead this year.

Home prices in Savannah have jumped 80 percent compared to pre-pandemic levels, and homes in Hinesville have doubled.

According to economic experts, Savannah’s economy continues to be driven by tourism, shipping, along with logistics tied to the port. Manufacturing, healthcare, and military-related operations also play a major role in providing jobs and bringing in money.

The unemployment rate is expected to rise from 3.3 to 3.5 percent.

“The economy remains a sound long-term investment for people who are interested in building a business here, developing and growing their business, and for persons who are interested in finding employment opportunities here,” said Professor Toma.

Professor Toma doesn’t expect a recession, but does see state and local governments spending slightly less.

Interim Dean, Santanu Chatterjee, with the Terry College of Business, at the University of Georgia says, “No, you know, there’s always some impact of these things (tariffs). But I do feel that a lot of businesses are sensitive about passing on the higher cost of tariffs onto consumers. So I think we’re going to see a lot of movement towards thinking more about efficiency and automation and artificial intelligence, where the state will also do very well.”

During those interviews, these professors also shared that students in college or young workers need to make sure that their skills are up to date and keep a sharp eye out for opportunities.

They say trade schools will pick up this year as manufacturing and industry revives even more across our state.