UHERO: Hawaii May Escape A Recession 2 But the weakened yen has slowed down the return visitors from Japan.
Amid recession fears, Hawaii economists are cautiously optimistic that the state’s economy will fare well thanks to returning Japanese visitors and construction spending, according to a University of Hawaii Economic Research Organization report issued Friday.
The return of visitors from Japan – hindered by the late removal of Covid-19 travel restrictions and the weakened yen – is expected to help offset the anticipated pullback of mainland arrivals next year, the report said.
“The recovery of Japanese visitors has barely begun,” UHERO Executive Director Carl Bonham said in an interview.
