Economic Development 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 ...
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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 economy's jobs accounted for by
manufacturing and agriculture have declined steadily since 1959 and
each currently makes up less than 4% of total jobs in the economy. At
the same time, the shares of jobs in wholesale and retail trade and in
services have risen, standing at about 23% and 28%, respectively.
Since 1991, Hawaii's economy has suffered from rising rates of
unemployment. This stands in marked contrast to the period 1980 to
1993, when the state enjoyed very low unemployment rates relative to
the nation as a whole. But by 1994 the recession had raised Hawaii's
unemployment rate to the national average (6.1%) for the first time in 15
years. In 1995, the state's unemployment rate improved slightly ...
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and 15.4 percent, respectively. However, in the first
eleven months of 1995, the number of westbound visitors remained flat.
This year is the 11th year in a row that the U.S. has
experienced reduced spending on national defense. The continued
reduction is due to the decline in superpower tensions and the
political disintegration of the Soviet and East European-block during
this decade which have prompted the Congress and Administration to
initiate significant cuts in the level of defense expenditures in
recent years. However, because of the strategic location of Hawaii in
the Pacific this changing military posture has not significantly
affected Hawaii's $3.7 billion Federal defense ...
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Economic Development Of Hawaii. (2008, July 3). Retrieved December 23, 2024, from http://www.essayworld.com/essays/Economic-Development-Of-Hawaii/86211
"Economic Development Of Hawaii." Essayworld.com. Essayworld.com, 3 Jul. 2008. Web. 23 Dec. 2024. <http://www.essayworld.com/essays/Economic-Development-Of-Hawaii/86211>
"Economic Development Of Hawaii." Essayworld.com. July 3, 2008. Accessed December 23, 2024. http://www.essayworld.com/essays/Economic-Development-Of-Hawaii/86211.
"Economic Development Of Hawaii." Essayworld.com. July 3, 2008. Accessed December 23, 2024. http://www.essayworld.com/essays/Economic-Development-Of-Hawaii/86211.
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