Wall Street’s Perfect Storm Increases Value of Hawaiian Vacays
In what was already a grim atmosphere in the financial sector, Lehman Brothers filed for Chapter 11 Bankruptcy yesterday. One of the markets hardest hit in the shuffle is tourism. So it stands to reason that the year’s shakeup and yesterday’s collapse of an economic giant continues to weaken Hawai’i’s already tremulous visitor industry as people hold off on vacations and other large purchases.But with visitor counts down, and retailers slashing prices, and tourism packages upping the ante with a free night’s stay, free meals, and other complimentary offerings, the time is right for less financially anxious visitors to make their Hawaiian vacation plans now.
Marcha Weinert, the state tourism liaison told Honolulu Advertiser that, “The value of the vacation is better than it has been for years.” Other good news for business owners, tour operators, restaurateurs, and retailers: The Japanese yen is rising, marking a two-month high against the dollar. There’s been a longtime conversation in the islands about Japanese purchasing power, so stay tuned for about the next, oh, several years to find out how this one pans out.
Photo by –Creative Commons, by jenn_jenn
Comments Off