HONOLULU (AP) — University of Hawaii economists are predicting Hawaii‘s economy will grow 2.4 percent next year as more tourists visit the islands and the travelers who come spend more.
“The tourism industry is on a tear, posting impressive rates of growth. With a few exceptions, the rest of the local economy is going nowhere,” the university’s Economic Research Organization, or UHERO, said in a report Friday.
More travelers from Canada and Australia — both economies benefiting from high commodity prices — are visiting the islands, along with U.S. mainland tourists who held back on travel during the recent recession. There are also more travelers from China and South Korea — both countries that hadn’t sent that many tourists to Hawaii in the past.
The economists estimate visitor arrivals will grow 3 percent next year while spending should climb 8 percent in 2013.
The forecast comes after the
