Statement Attributable to Mike McCartney, President and CEO Hawaii Tourism Authority HTA Prepares for Potential Downturn of Hawaiis Tourism Economy With visitor expenditures surpassing $12 billion during the first ten months of the year, tourism has contributed $1.26 billion in tax revenue for the state, an increase of 3.4 percent compared to last year. However, while we anticipate exceeding visitor arrival and spending records reached in 2012, the declines experienced in September and October are expected to continue through the remainder of this year and into 2014. Visitors have become more conscientious of their spending as the cost of a Hawaii vacation continues to rise. This trend has caused a shortening in the average length of stay. Currency exchange rates and competitive pricing are also affecting visitor arrivals and spending and may contribute to continued declines and potentially move market share to competing destinations. As airlines adjust their flights and routes to match demand, we are seeing declines in seat inventory from the U.S. mainland. While there has been steady growth in air seats from international destinations through our efforts to diversify our markets, we are monitoring how domestic market declines and trends could impact all markets. We continue to work with our marketing contractors in adjusting our plans and initiatives through 2014. As we prepare for a potential downturn in Hawaiis tourism economy, we continue to focus on driving demand from growing international markets to bolster a softening domestic market and maintain a sustainable tourism economy.
Posted on: Fri, 29 Nov 2013 05:46:26 +0000
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