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Hawaii Economic Outlook Paper

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During Week One we learned about Hawaii Economic Outlook. Hawaii Economic Outlook is based on:
“The most recent developments in the national and global economic, the performance of Hawaii’s tourism industry, labor market conditions and the growth of personal income and tax revenues” (Quarterly Statistical & Economic Report, 2015).
According to the Quarterly Statistical & Economic Report, Hawaii is expected to continue to have a positive growth for the rest of the 2015 year and into 2016. Hawaii’s economy relies heavily on the revenue from the tourism industry, especially travelers from Japan. Since Hawaii’s economy relies on the tourism industry I decided to write my weekly report on why the total amount of statewide visitors have increased, but expenditures have not match or exceed …show more content…

According to the Quarterly Statistical & Economic Report the “visitor arrivals continue to be strong with both domestic and international” but “visitors spent less on a daily basis”. This means that even though the number of visitors have increased, the total amount visitors spent were less than the growth of visitor arrivals. To understand why expenditures have not matched or exceed the amount of visitors, we must look at where are our largest source of travelers and revenue come from. Hawaii’s largest international visitors come from Japan (Hawaii Tourism Authority, n.d.). When looking at the statistical numbers, the total visitors went down from 1,518,517 in 2013 to 1,511,699 in 2014, a 0.4% drop. Not only did the total number of visitors drop, the total vacation days also dropped. In 2014,

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