According to a report released by the Hawaii Tourism Authority, visitor arrivals increased by 3 percent in October 2014 to a total of 659,821 people. Visitor spending also increased by a total of 3.3 percent to $1.1 billion. However, the average length of stay for visitors decreased slightly. Ron Williams, the interim CEO of the HTA, stated, "The HTA continues to monitor slight declines in average length of stay and its potential impact on future expenditure growth. As the U.S. dollar continues to strengthen against international currencies, amidst increasing competition from closer and more affordable destinations, we also anticipate changes in the booking pace through the second quarter of 2015."
Williams added, "During the first 10 months of the year, visitor spending continues to increase for most of our major market areas, which is demonstrative of the continued demand for travel to the Hawaiian Islands. However, we continue to monitor the impact of the weakening yen and recent consumption tax hike in Japan, which has resulted in decreases in expenditures and a shorter length of stay from the region, in comparison to the same period last year. While we are still on track to surpass last year's record-breaking numbers, the growth trend in visitor expenditures and arrivals over the past two years is at a much slower pace than in previous years."
Source: Honolulu Star Advertiser, 11-27-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
