Good news for the economy of Hawaii, thanks to the visitor industry’s high performance. The numbers that came in for the month of May were particularly good!
Not only were there more visitors to Hawaii in the month of May this year than there were last year, but those visitors spent more money, which isn’t only good for our economy. It is also a good sign indicating the economic health of the rest of the country.
According to the Hawaii Tourism Authority’s Tuesday report, visitor spending in Hawaii was $912.3 million, which was 5.9 percent (about $50 million) more than May of last year. There was a total of 553,505 visitors to the islands, which was up 0.6 percent from the 549,954 of May 2010.
The increase in visitors wasn’t as significant as the increase in spending, which simply tells us that the finances of those who can afford to visit are improving. There is, however, another factor affecting these numbers. Arrivals from Japan were 17.1 percent lower in May than the same month last year. Considering the fact that arrivals and spending improved despite this drop is a very good sign.
All of this news is good for those who are thinking about buying Maui real estate for use as a vacation rental. South Maui real estate is ideal for this, as there are a multitude of beautiful homes and condos that are close to the beautiful ocean. If you need any assistance finding the right Maui real estate investment, you will find our contact information at the bottom of the page. Mahalo!