UHERO COUNTY FORECAST: Improving, But Uneven Through 2011May 20, 2011, 2:27 PM HST · Updated May 20, 2:37 PM 0 Comments
By Sonia Isotov
The University of Hawaii Economic Research Organization (UHERO) released their county economies forecast today predicting an improving visitor sector, especially on Maui and Kauai.
University economists today noted that Maui can expect to benefit from its strong specialization in US and Canadian markets; Kauai as well. However, Oahu and Big Island will suffer most from the drop in Japanese visitors.
In construction, Oahu will begin to feel the positive effects of the beginning of work on rail mass transit, even as the Neighbor Islands continue to look for a clear bottom to the downturn in residential or commercial construction.
In the visitor industry, the gains will be largest on Maui and Kauai, both expected to see 6% or better arrivals growth. Oahu and the Big Island will continue to experience large Japanese visitor losses and recovery in this market will proceed only gradually over the next year, although it is forecast to be at a more rapid pace than forecast one year ago.
To read the forecast in detail, go to UHERO website.