As we move towards the latter half of 2021, it’s a good time to reflect on some of the most impactful Hawaii business news stories that have made headlines this year. From COVID-19 impacts to renewable energy projects and legalized gambling, here’s a recap of the top Hawaii business news stories of 2021.
COVID-19 Impacts on Hawaii’s Tourism Industry
The COVID-19 pandemic had a profound impact on Hawaii’s tourism industry. With tourism being the state’s key economic driver, the pandemic’s impact was felt throughout the industry, from airlines and hotels to local businesses.
According to the Hawaii Tourism Authority’s (HTA) estimates, visitor spending took a massive hit in 2020, with a 77.4% decline in visitor arrivals and an 83.8% decrease in visitor spending. However, with vaccinations becoming more widely available, Hawaii is slowly but surely beginning to open its doors to international visitors.
Renewable Energy Projects Set to Power the State
Hawaii has been at the forefront of renewable energy in recent years. In 2021, the state continued to make strides towards the goal of achieving 100% renewable energy by 2045.
Among the notable renewable energy projects in Hawaii this year is the Kahuku Wind project, which plans to install 12 wind turbines with a total capacity of 46.8 megawatts (MW). Additionally, the Waikoloa Solar project on Hawaii Island is set to produce 168 MW of solar power and 240 MW of energy storage.
Legalized Gambling on the Horizon
In April, Hawaii made headlines when lawmakers introduced legislation to allow casino gambling in the state. This move comes after decades of opposition to gambling in Hawaii, with proponents of the bill citing the potential revenue boost it could provide for Hawaii’s economy.
However, it remains to be seen whether the legislation will pass. Should the bill become law, it would make Hawaii the last state in the US to legalize gambling.
Conclusion
2021 has been a year of ups and downs for Hawaii’s business scene. COVID-19 impacts on the tourism industry continue to be felt throughout the state, but the light at the end of the tunnel is slowly becoming brighter. Hawaii’s commitment to renewable energy remains steadfast, and the potential for a new revenue stream through legalized gambling is on the horizon.
As we move forward in the year, it will be interesting to see how these stories develop and what other twists and turns Hawaii’s business news will take.
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