02/06/2014

Hawaii – Positive Economic News

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The Hawaii Tourism Authority reported on January 30, 2014 that Hawaii visitor arrivals in 2013 set a new record of 8.24 million visitors for the year.  This represents an increase of 2.6% over 2012. Annual total visitor expenditures also increased 2% to $14.5 billion. Arrivals from the mainland were up slightly over 2012, while arrivals from Japan rose 3.9% and arrivals from Canada grew by 2.1%.  Arrivals from smaller visitor markets (Oceania, Europe, Latin America) continue to show strong growth rates.

After another record-setting year for tourism and continued growth in construction, the state reported an increase in net assets of $307 million, the first gain since 2006. This is in addition to the state’s $844 million budget surplus at the end of the previous fiscal year.  Conservative fiscal management is expected to continue into 2014 as lawmakers are focused on recapitalizing reserve funds.