Visitor Arrivals and Spending Decreases in October 2013

According to a report released by the Hawaii Tourism Authority, the total number of visitors decreased by 1.6 percent in October 2013, as compared to the same month a year prior. Visitor spending also decreased to $1.09 billion in October, which equates to a 2.6 decrease from October 2012. Mike McCartney, the president and CEO for the Hawaii Tourism Authority, stated, "Visitors have become more conscientious of their spending as the cost of a Hawaii vacation continues to rise. This trend has caused a shortening in the average length of stay. Currency exchange rates and competitive pricing are also affecting visitor arrivals and spending and may contribute to continued declines and potentially move market share to competing destinations. As we prepare for a potential downturn in Hawaii's tourism economy, we continue to focus on driving demand from growing international markets to bolster a softening domestic market and maintain a sustainable tourism economy."

Vice president of hospitality services for Outrigger Enterprises Group, Barry Wallace, added, "As a whole the year will be a great one. It's probably going to be a record breaker, especially on Oahu. The last few months have been flat or down, but it's so far ahead on a year-to-date basis that I think we'll remember this year for some time."

Source: Honolulu Star Advertiser, 11-28-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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