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The Honolulu Advertiser
Posted on: Wednesday, May 19, 2010

Latest economic forecast raises outlook for Hawaii tourism

Advertiser Staff

Expectations for tourism arrivals and spending, as well as the Hawai'i's gross domestic product are being raised in the latest economic forecast from the state Department of Business, Economic Development and Tourism.

The state's latest projections boost the performance of the visitor industry, a key contributor to Hawai'i's economy. The forecast calls for visitor arrivals to increase 2.6 percent this year, or higher than the 2.1 percent in DBEDT's previous forecast.

It also calls for visitor spending to rise by 2.6 percent. That's a jump from the 2.0 percent seen previously.

The updated forecast also sees gross domestic product rising by a rosier amount, rising 1.1 percent this year when adjusted for inflation. It had been projected to rise 0.9 percent.

The forecast maintains its jobs outlook, saying they are still expected to fall by 0.9 percent this year as employment lags recovery. The report noted job growth should gradually turn positive late in the year, though not enough to offset declines earlier in 2010.