Jack Suyderhoud, one of the states leading economists and a professor of economics at the University of Hawaii's Shidler College of Business, presented his thoughts at the First Hawaiian Bank, Hawaii County (Big Island of Hawaii) Business Outlook Forum. Suyderhoud stated, "Thanks to the statewide tourism boom, Hawaii island's economic outlook is better than it has been in the last five years. Both sides of Hawaii island are experiencing economic expansion, though not all sectors are benefiting uniformly. The tourism boom will slow down, but its continued strength will spread through the rest of the economy. As economic activity increases there will be more self-sustaining growth and more opportunities for all of Hawaii island's businesses and residents."
Suyderhoud noted that the Big Island of Hawaii is not as economically dependent on tourism as Maui or Kauai, but the improving tourism industry had made a significant contribution to their rebound. The Hawaii Tourism Authority noted that 753,768 visitors came to the Big Island during the first six months of 2013, an increase of 5.2 percent from the same period a year prior.
Source: Honolulu Star Advertiser, 8-23-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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