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Economic Analysis Of Hawaii
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Economic Analysis 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 of Hawaii's jobs across sectors. The share of the ...
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