OCEAN CITY, Md. - Businesses in Ocean City enjoyed steady foot traffic this summer, but profits did not reach the highs of summer 2023, according to the Ocean City Chamber of Commerce.
Amy Thompson, the Chamber’s Executive Director, pointed to rising costs and shifting labor dynamics as key challenges.
“All know the cost of goods has gone up. That’s not new news,” Thompson said. “But if you think about the challenge of hospitality, they’re competing against remote jobs. So what is happening to get quality hires within hospitality, you have to pay more. So there’s a behind-the-scenes increase in cost of goods. That's just impacting bottom line for everyone.”
Thompson added that the pandemic’s influence on the workforce has contributed to the shift from clocking in at work to logging on remotely, complicating the hospitality sector's hiring efforts.
Despite challenges for individual businesses, the town saw strong revenue from major events. Ocean City’s Tourism and Business Development Director Tom Perlozzo highlighted the success of this year’s events, including Ocean’s Calling and Country Calling.
“24 with events was a terrific year for Ocean City. Obviously, you know, the two major events we had — Ocean’s Calling and Country Calling — proved to be huge economic benefits,” Perlozzo said.
Looking ahead to next summer, Thompson said the Chamber plans to collaborate with organizations across Maryland to better understand economic trends affecting the region.
Perlozzo also teased big plans for Ocean City’s 150th anniversary in 2025, promising even more events to draw visitors and boost revenue.