The Stars Align in Surrey's Entertainment Renaissance
Demographic diversity and explosive market growth create a unique opportunity for investment in hospitality and entertainment in Surrey.
Surrey stands at the threshold of a transformative era in entertainment. Known for its rapid growth and cultural diversity, the city is setting its sights on becoming the Lower Mainland’s premier entertainment destination. By harnessing the potential of two distinct entertainment districts—the City Centre and Cloverdale—Surrey aims to enhance its reputation as a buzzy, world-class destination. Let’s explore this vibrant city and the unique opportunities that are paving the way for Surrey's entertainment renaissance.
We’re growing fast. And so are the opportunities!
Surrey is projected to become the largest city in the Lower Mainland, with a population exceeding one million. This dynamic growth is fueled by over 1,000 new residents each month, many of whom are young families, professionals, and students from 2 major universities and UBC coming soon. This growing talent pool, combined with a highly educated workforce, positions us as a formidable competitor to established entertainment hubs like Vancouver. Furthermore, as an attractive location for new ventures - and one of the most livable cities worldwide.
Now, with almost a quarter of the region's under-30 population residing in Surrey, the city boasts a vibrant community eager for new entertainment options. By investing in the creation of vibrant social spaces that foster community engagement and memorable culinary experiences, we can build an environment where deeper connections and meaningful interactions thrive.
Additionally, the development of a Fraser Highway transit system will link entertainment hubs across the city, enhancing connectivity to marine ports and the U.S. border, where a significant portion of event tickets are sold.
Our Cultural Diversity is a Catalyst for Entertainment
Surrey's cultural diversity creates a rich foundation for developing entertainment options that cater to a wide range of preferences and traditions. The influx of young professionals and university students further enhances the city's cosmopolitan vibe, making it an ideal hub for diverse forms of entertainment.
The city already offers a wide range of options, from museums and art galleries to nightlife and sporting events. It also has a variety of international restaurants, bars and cafes, making it a great place for socializing and networking. But with over 200,000 square feet of retail space available in high-traffic locations such as Surrey City Centre, Guildford, and South Surrey, the city is ripe for new entertainment and hospitality developments.
Celebrating Music and Culture - and the Rodeo!
Surrey’s vibrant cultural events and festivals attract hundreds of thousands of visitors each year, significantly boosting international tourism from across British Columbia and the U.S. border. High-profile events like the Fusion Festival and Canada Day celebrations draw diverse crowds, fueled by local interest that drives community growth.
Investing in live entertainment in Surrey presents a unique opportunity to capitalize on high-profile events and festivals, which attract significant local and international attention. Highlighted by events such as FVDED In the Park, attracting up to 50,000 attendees annually with premier global techno artists and the iconic Cloverdale Rodeo, celebrating our rich heritage.
We have taken note of districts like the North Vancouver Shipyards, Texas Live! In Arlington & the AvidXchange Music Factory in Charlotte, North Carolina of how essential for vibrant cities live entertainment is in enhancing cultural experiences and boost local hospitality. This is why we're dedicated to conducting a comprehensive feasibility study to explore how we can develop a versatile venue that will elevate our live entertainment experiences to new and exciting heights.
Surrey's successful events demonstrate its capability to host significant attractions, presenting valuable opportunities for growth in the local entertainment sector including pop ups, mic nights and major events that will support hospitality businesses.
Next Gen Entertainment Experiences
Did you know that 30% of Surrey's entertainment and recreation spending happens outside the city? That's $17 million a month spent elsewhere! Let's bring that back to our community.
Additionally, Surrey's experiential sector, a major sector in next gen entertainment, represents a $500 million opportunity driven by its youthful population and the influence of Metro Vancouver's film and VR industries. To leverage next generation entertainment experiences driven by high technology, Surrey is committed to upgrading its digital infrastructure, with plans to roll out fibre optic upgrades that will allow 90% of businesses to access gigabit-capable internet. This advancement supports various tech-driven entertainment industries, including online gaming and VR/AR experiences.
Esports is also a significant driver of technological entertainment, with British Columbia housing numerous gaming developers, including EA, and a highly skilled workforce. Canada ranks among the top 10 globally in Esports revenue generation. Surrey, with its youthful population and educational institutions, presents an exceptional opportunity for investment.
We are actively seeking opportunities in this growing market, including multi-use arenas, internet cafes, barcades and event hosting.
One of the World’s Best Emerging Food Cities
Surrey has been named one of the world’s best emerging food cities by Food & Wine Magazine. In the 2023 issue, Food & Wine noted the city’s “unparalleled” cultural diversity, noting that Surrey is “home to one of the largest Indian populations in Canada, interwoven with immigrants from Africa, other parts of Asia, and beyond, and that diversity is reflected in the city’s rich food culture”.
While the city's culinary scene is diverse, there remains a substantial market gap compared to neighbouring Vancouver, particularly in unique dining experiences.
In emerging cities like Surrey, the container retail and dining market is rapidly gaining momentum, and it’s easy to see why. Retired shipping containers are transforming into vibrant hubs for entrepreneurs, offering affordable, adaptable spaces for restaurants, retail stores, and bars. Their compact design is perfect for innovative ventures and market testing, while their mobility allows businesses to thrive in high-traffic areas such as festivals, markets, and bustling downtown districts—all which Surrey has in spades. These container clusters are not only cost-effective but also inject a dynamic and lively energy into the urban landscape, creating exciting and diverse experiences for consumers.
By introducing distinctive flavors and entertainment options, we’re tapping into this potential and offering visitors unforgettable experiences, and our residents' pathways to forge connections within our distinct communities. This being yet another opportunity for savvy hospitality entrepreneurs to make their mark in Surrey.
Remixing Residential, Commercial & Entertainment space
Key anchors such as Surrey Central Mall and Guildford Mall play a crucial role in the city's entertainment landscape. However, Surrey is on the move with our transit taking shape that will connect our region seamlessly. A notable mixed-use development along King George Boulevard reflects the city's commitment to integrating residential, commercial, and entertainment spaces. These initiatives position Surrey as a blue ocean opportunity for hospitality and entertainment investors.
Morgan Crossing, a European-inspired mixed-use residential, & commercial development in Surrey, epitomizes the city’s dedication to creating thoughtfully designed spaces that foster community engagement and convenience. This exemplary project has not only invigorated the local economy by generating job opportunities but has also elevated resident satisfaction through its array of convenient amenities and vibrant events.
The development has strategically optimized surrounding industrial land for commercial use, further enhancing its economic impact. In response to community feedback, and the latest, important trends in new forms of entertainment, Morgan Crossing is expanding its entertainment offerings to potentially offer recreation facilities, virtual reality experiences, and a diverse selection of dining options. These additions are set to attract a broader spectrum of visitors, enriching the community and reinforcing Surrey's reputation as a forward-thinking city.
Disposable Income Fuels Motivated Spending
Surrey residents benefit from some of the highest household incomes in British Columbia. Notably, Cloverdale and the City Centre have emerged as key growth areas, distinguished by their thriving family communities and robust professional workforce. These neighbourhoods attract significant immigration due to their more affordable housing options, proximity to workplaces, and convenient access to amenities.
Additionally, locally, a further $60 million is spent annually on retail and entertainment, yet a significant portion of spending leaks to neighboring cities due to demand outstripping supply. When asked, in a recent study, what additional store types would entice increased spending in Surrey, 51% of respondents chose restaurant dining and another 42% chose entertainment and recreation. By investing in home grown entertainment districts, Surrey can capture this spending, creating a commercially viable foundation for sports, dining, music and theatre, and other social activities within city limits.
Business-Friendly and a World-Class Quality of Life
With its rapid population growth, this city offers a steady workforce and a diverse customer base for retail and entertainment ventures. The cultural diversity here opens doors to varied demand, while the city's robust infrastructure and urban development initiatives make it an attractive destination for new businesses. Surrey delivers not only a business-friendly climate but also a world-class quality of life, making it the ideal place for your business to flourish.
The Stars are Aligning in Surrey…
Surrey's entertainment renaissance offers a unique opportunity for urban development planners and local entrepreneurs to shape the city's future. With its strategic investments, diverse entertainment options, and committed community, Surrey is poised to become a world-class entertainment hub. By seizing this opportunity, you can contribute to Surrey's transformation and be part of its exciting evolution. Explore Surrey's potential and join the movement to elevate the city's entertainment landscape.
Are you ready to contribute to this transformation? Visit us at www.investsurrey.ca and connect with our team to learn how your business can thrive in Surrey.