Economic Development Of Hawaii

Economic Development of Hawaii

Hawaii, with an area of 28,313 sq. km (10,932 sq. mi.), is the

43rd largest state in the U.S.; 6.9% of the land is owned by the

federal government. It consists mainly of the Hawaiian Islands, eight

main islands and 124 islets, reefs, and shoals. The major islands in

order of size are Hawaii, Maui, Oahu, Kauai, Molokai, Lanai, Nihau,

and Kahoolawe. Population growth has increased by 80,000 persons over

the past five years. Demographics show a large number of Hispanic

origin: Asian Hispanics are the most populated with white Hispanic

and Asian non-Hispanic following. Hawaii's economy has been long

dominated by plantation agriculture and military spending. As

agriculture has declined in importance, the economy has diversified to

encompass a large tourist business and a growing manufacturing

industry.

Hawaii's economy has changed drastically since statehood. In

1958, defense, sugar, and pineapple were the primary economic

activities, accounting for 40% of Gross State Product (GSP). In

contrast, visitor-related expenditures stood at just over 4% of

Hawaii's GSP prior to statehood. Today the positions are reversed;

sugar and pineapple constitute about 1% of GSP, defense accounts for

just under 11%, while visitor-related spending comes close to 24% of

Hawaii's GSP.

The movement toward a service- and trade-based economy becomes

even more apparent when considering the distribution...

Economic Development Of Hawaii

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