Fed points out tourism impetus

Advertiser Staff

The Federal Reserve Board, in a report released yesterday, singled out Hawai'i's booming visitor industry as a major contributor to economic growth in the state.

"In particular, the number of Japanese visitors to Hawai'i have returned to pre-September 11 levels, boosting activity there," the Fed said in its "Beige Book" report that compiles regional economic conditions across the country.

The Fed also noted that sales of new and existing homes and home-price appreciation "remained solid" in Hawai'i.