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Article: Big Island economy hit by lag in tourism
- Article from:
- Honolulu Star - Bulletin
- Article date:
- October 8, 2008
- Author:
CopyrightCopyright Honolulu Star - Bulletin Oct 8, 2008. Provided by ProQuest LLC. (Hide copyright information)
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Slower tourism and construction have taken a toll on the Hawaii County economy, according to the latest economic forecast from First Hawaiian Bank.
After an 11-year expansion, the Big Island economy has weakened in several major sectors compared to a year ago.
Like the rest of the state, Hawaii County is suffering from unexpected blows to tourism due to the loss of air carriers and cruise ships, an accelerating downturn in construction, slumping real estate sales and the impact of the Wall Street financial crisis.
But the Big Island is also feeling the vog's impact on diversified agriculture on top of higher transportation and energy costs.
First Hawaiian Bank economic adviser Leroy Laney ...