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Hawaii Tourism market Spend Analytics & Forecast

02-24-2017 02:07 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Tourism forms an important sector of the economy of Hawaii and contributes to the economic prosperity of the region. Tourism contributes to job creation and gives an impetus to the local economy. The tourism economy of Hawaii suffered a lot due to the Great Recession of 2007 and 2008 but is now at par with the pre-recession levels and tourists are coming to Hawaii in record numbers.

Hawaii Tourism Spend Analytics & Forecast: Sector Drivers and Restraints

A lively, sunny tropical weather is a major factor driving the tourism industry in the Hawaii islands. In addition, a major factor impacting tourism in the region is the excellent infrastructure facilities provided for tourists, which acts as a major driver for tourism. In addition, Hawaii is a popular destination for international tourists coming from China, Japan and South Korea and domestic tourists coming from the West Coast and East Coast. Tourism in Hawaii is growing in record numbers and its reputation for being a tropical paradise with pristine beaches and a rich culture and history makes Hawaii an attractive destination for tourists. However, as Hawaii is far from the US mainland, there is a huge cost in transporting products for everyday use, which makes Hawaii a comparatively expensive destination for tourists. Besides, a huge influx of tourists is also taking a toll on the pristine natural beauty of this region and may act as a restraint on the tourism sector in Hawaii.

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Hawaii Tourism Spend Analytics & Forecast: Key Statistics

In the year 2015, a record breaking 8,679,564 tourists arrived in Hawaii by air or by cruise ships as per the data provided by the Hawaii Tourism Authority. This is an increase of 4.3% from the previous record of 8,320,785 tourists in the year 2014. As per the data provided by the same source, total visitor days have also increased by 3.5% in the last year. However, the average spending per visitor, which was $196 per tourist in the year 2014 decreased to $191 in the year 2015. This had a bearing on the total expenditure by all tourists in the year 2015, which came to a figure of $15.11 billion, and was just a marginal increase from the 2014 figures. On the other hand, the total tourist expenditures declined 1.6% as compared to 2014 when the receipts were adjusted for inflation.

As per the figures provided by the Hawaii Tourism Authority, lodging was the largest expenditure category by all tourists to Hawaii, and in the year 2015 this rose 1.8% to reach a figure of $6.3 billion. This comprised a total of 42% of the total tourist expenditure in the year 2015. Food and beverage was the second largest category and comprised 20% of the total tourist spending, to reach a figure of $3.1 billion. However, shopping expenditures declined 5.1% as compared to the 2014 figures and reached a figure of $2.2 billion. In addition, spending on transportation increased by 2.7% as compared to the 2014 figures and reached a figure of $1.4 billion. Expenditures on recreation increased by 1.8% as compared to the 2014 figures to reach a figure of $1.3 billion in the year 2015.

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In addition, as per the figures provided by the Hawaii Tourism Authority, in the year 2015, supplemental business expenditures rose to a figure of $134.1 million, which rose by 9.8% as compared to the 2014 figures. Supplemental business expenditures are additional business expenditures spent locally on corporate meetings by out of the state visitors, which are not included in personal spending and are usually costs on venue and equipment rentals, transportation, etc.

About Us – Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India.

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