Friday, June 25, 2010

Visitor Industry Rebounds; Rail Revenue, Too

Visitor arrivals and spending jumped in May compared to the same month last year – 6.5 percent and 17.4 percent respectively, signifying a strong start to Hawaii’s peak summer travel season.

That’s the word today from the Hawaii Tourism Authority, and that’s good news for the Honolulu rail project’s tax collections, which already are at 99.6 percent of the original GET projections despite the economy’s downturn in the waning years of the past decade.

Dollars spent by visitors and local residents alike on Oahu contribute to the rail project’s local share due to the one-half of one-percent general excise tax. So welcome to Hawaii, visitors. Without realizing it, you’re contributing to a better life for future generations of Oahu residents.


Anonymous said...

good point. When Hawaii folks play tourist, the taxes we pay in other areas help maintain services there. We should expect the same when visitors come to our island.

Anonymous said...

Doug, you're wrong on the statement "99.6 percent of the original GET projections". The correct statement should be 99.6 percent of the GET projections stated in the August 2009 "Financial Plan for Entry Into Preliminary Engineering Submittal". Compared to the original GET projections stated in the DEIS, we will end FY2010 at only 96% of projections.
Check it out!

Waimanalo Frog

Doug Carlson said...

And your point is, Waimanalo Frog? "Only 96%" after the worst economic downturn since the Great Depression doesn't seem so bad, but the bigger point is that a project this big and complex has been a work in progress over the past few years. It's entirely reasonable for adjustments to be made over its course. I'll stick with 99.6 percent as the most accurate, most recent and most complete financial projection. Thanks for reading Yes2Rail.