State of Hawaii’s acting chief economist, Eugene Tian, stated, “This year looks like tourism will be the star of growth for Hawaii’s economy.” Tian noted that the state’s official forecast was that there will be a 4.4 percent increase in visitor arrivals in 2012 and a 6.4 percent increase in spending. These projections are supported by the fact that there has been a 7.7 percent increase in the number of scheduled air seats to Hawaii for the year.
Economist Paul Brewbaker, the principal at TZ Economics, added, “My sense is that people have been way too negative. The actual tourism performance at the end of 2011 confirmed the hypothesis that Japan’s seismic event and geopolitically rooted oil-pricing sunrises should not frame the forecast for 2012 and beyond.”
Source: Honolulu Star Advertiser, 2-29-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
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