VIDEO: Maui Economic Forecast for 2014 is PositiveSeptember 6, 2013, 1:01 PM HST · Updated November 26, 12:05 PM 0 Comments
By Wendy Osher
The business outlook for Maui is positive in the next year, according to economists who spoke at the 39th Annual Maui County Business Outlook Form, held Thursday, Sept. 5, at the Maui Beach Hotel in Kahului.
“Maui’s tourism boom will slow down, but its continued strength will support the rest of the economy,” said Dr. Jack Suyderhoud, professor of business economics at Shidler College of Business at UH Mānoa.
“We are seeing improvements in the labor market as job creation has continued, benefiting retailing and real estate,” he said. “Certainly challenges remain in the residential construction sector, but infrastructure and commercial construction are leading the way,” said Dr. Suyderhoud during the annual forecast event.
According to Dr. Suyderhoud, Maui’s tourism-dependent economy has benefited from what he called an ongoing visitor boom. “Slowly,” he said, “these benefits have spread from the tourism sector to other parts of the economy including commercial construction, retailing, real estate, and most importantly, jobs.”
***The full report is available for viewing by clicking on the video player provided above.