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Pearl Imada Iboshi Department of Business, Economic Development Tourism

Real product, 1978 to 2012 (% change from previous year). 2008-9 have been challenging times for Hawaii. Source: US Bureau of Economic Analysis and Hawaii State Department of Business, Economic Development and Tourism. The sharp decrease in jobs is unprecedented. Source: Hawaii State Department of Labor and Industrial Relations and Department of Business, Economic Development

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Pearl Imada Iboshi Department of Business, Economic Development Tourism

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    6. Strongest growth has been in the construction and services sectors Strongest growth has been in the construction and services sectors

    8. The value of private building permits continues to fall

    10. Federal spending has helped to cushion the decrease in private construction

    11. State Government capital improvement projects (CIP) expenditures increase

    12. The Visitor industry has increased its importance in Hawaii’s Economy since Statehood

    13. Historically, Hawaii's economy has always been lead by one dominating industry. After Statehood and prior to 1976, our economy was dominated by federal spending, especially military spending. Tourism in Hawaii started to grow in the 1950's, and by 1976, tourism overtook federal spending, becoming the largest driving force for Hawaii's economy. Historically, Hawaii's economy has always been lead by one dominating industry. After Statehood and prior to 1976, our economy was dominated by federal spending, especially military spending. Tourism in Hawaii started to grow in the 1950's, and by 1976, tourism overtook federal spending, becoming the largest driving force for Hawaii's economy.

    14. Visitor arrivals continued to fall in the first half of 2009, but are beginning to stabilize

    15.

    16. Visitor expenditures have fallen more than arrivals

    17. Scheduled airseats now at 2008 levels

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