comscore DBEDT forecasts stable growth for Hawaii economy | Honolulu Star-Advertiser
Every act of aloha counts. Click here to DONATE to the MAUI RELIEF Fund.
Top News

DBEDT forecasts stable growth for Hawaii economy

Honolulu Star-Advertiser logo
Unlimited access to premium stories for as low as $12.95 /mo.
Get It Now

Hawaii’s economy is expected to show stable growth this year and beyond as increased airlift from the mainland helps drive the state’s visitor industry.

The state said Friday in its quarterly forecast that a stronger U.S. economy and improving labor market will provide the catalyst for the growth.

 “We are happy to see that our labor market has fully recovered from the 2009 recession, and in 2014 we had an historical high level of civilian labor force, civilian employment and payroll job count,” said Luis P. Salaveria, director of the state Department of Business, Economic Development & Tourism. “Our unemployment rate was the sixth lowest in the nation. 2014 was a record year for visitor arrivals as well. With the strong growth in the U.S. economy, we expect our visitor industry to continue to grow in 2015, especially in the U.S. markets.”

Hawaii’s inflation-adjusted gross domestic product, the broadest measure of economic output, should rise 3.1 percent this year, according to DBEDT. 

Visitor arrivals are expected to grow 2.1 percent this year because total air seats to the islands are projected to increase 5.8 percent, DBEDT said.

Comments have been disabled for this story...

Click here to see our full coverage of the coronavirus outbreak. Submit your coronavirus news tip.

Be the first to know
Get web push notifications from Star-Advertiser when the next breaking story happens — it's FREE! You just need a supported web browser.
Subscribe for this feature

Scroll Up