Hawaii 2050 Sustainability Plan
What You Need to Know…
ABOUT HAWAI‘I’S ECONOMY
- Hawai‘i’s gross domestic product was $58 billion in 2006, compared to $41 billion in 2001. There are about 643,000 persons in the Hawai‘i workforce.
- Federal spending in 2004 was about $12.2 billion, which exceeded total tourism spending of $10.9 billion.
- In October 2007, Hawai‘i’s unemployment rate was 2.6%, the lowest in the U.S.
- In 1956, 133,000 visitors traveled to Hawai‘i. Fifty years later, in 2006, 7.4 million visitors traveled to Hawai‘i. The statewide occupancy rate in 2006 was 79.7%, with the average room rate of $186.
- Since the 1950s, tourism rose from 2% of the economy to currently 20% of the economy.
- In 2005, high technology jobs comprised 2.8% of the workforce. The technology sector employed 13,813 workers at an average salary of $57,458, 66% higher than the average wage earner.
- Innovation-based sectors, including high technology, diversified agriculture, digital media, diversified agriculture, healthcare, biosciences and dual use, comprise of about 5% of the workforce.
- Between 1985 and 2005, Hawai‘i had 1.5 patents per 1,000 people, compared to a national average of 5.5.
- From 1990 to 2001, Hawai‘i’s standard of living declined by 0.2% per year, and from 2002-2006, it increased by 2.1% per year.
- Total agricultural revenue has gone up from $522 million to $576 million from 2000 to 2005.
- In 2006, revenues from the University of Hawai‘i system were $1.2 billion.
Sources: Department of Business & Economic Development; Hawai‘i 2050 Issue Book (2007); Enterprise Honolulu; University of Hawai‘i; and University of Hawai‘i Economic Research Organization
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