Purchasing in Maui Just Got Even More Attractive for Canadian Buyers

Loonie enters 2011 above parity with greenback amid higher

oil, copper, gold

The Canadian PressBy The Canadian Press
Article from: www.yahoo.ca

TORONTO – The Canadian dollar ended 2010 above parity with the U.S. currency Friday, closing at its highest level in more than two and a half years amid rising commodity prices.

The loonie closed up 0.54 of a cent to 100.54 cents U.S. after closing at parity with the U.S. dollar Thursday for the first time since Nov. 10. It was the Canadian dollar’s highest close since May 2008 and represents a 5.6 per cent gain for the currency this year.

The Canadian currency rose amid higher oil prices and copper prices that hit new records for a third day.

The February crude oil contract on the New York Mercantile Exchange shook off early losses to move up $1.54 to US$91.38. Prices had fallen after data Thursday showed a much smaller than expected decline in U.S. crude inventories in the latest week.

The March copper contract on the New York Mercantile Exchange rose eight cents from Thursday’s latest record close to US$4.45 a pound. Copper has surged 33 per cent this year on higher demand from China and other emerging markets.

Gold was also higher with the February contract on the Nymex ahead $15.50 to US$1,421.40 an ounce.

The greenback fell back as strong American economic data encouraged investors to move out of the greenback and take on more risk and commodity prices advanced.

Data released Thursday showed the number of people applying for unemployment benefits fell sharply last week, a positive sign that the job market south of the border is slowly improving. There was also a stronger than expected reading on the Midwest manufacturing sector.

The American currency also lost ground against the euro after German chancellor Angela Merkel said that Europe is dealing with a major test and must strengthen the euro.

“This is not just about our money — the euro is far more than a currency,” she said.

Her comments come at the end of a year where eurozone members Greece and Ireland required financial rescues in 2010 amid a persistent government debt crisis, and Europe remains under pressure to take more action to resolve its woes.

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Westjet Announces Intent to Provide Direct Service from Edmonton & Calgary

WestJet to add Hawai‘i flights

POSTED: December 30, 2010
Article from: The Maui Weekly

WestJet recently announced its intention to operate a leased Boeing 757-200 to provide nonstop service between Calgary and Honolulu and Maui, and between Edmonton and Maui, subject to Canadian government approval. The service will operate from February 12, 2011, to April 30, 2011.“This is great news for Albertans,” said Hugh Dunleavy, WestJet executive vice president of strategy and planning.

“This temporary lease will allow WestJet to provide additional capacity for guests traveling from Alberta to Hawai‘i” siad Dunleavy.

“With this leased aircraft, we’ll be able to seat 193 guests—an increase from using our own 737-700s. So, now even more guests will have access to the only daytime schedule in both directions on convenient nonstop flights to Maui and Honolulu.”

WestJet is leasing the Boeing 757-200 from North American Airlines, a charter air service provider located in Jamaica, N.Y.

It was the charter provider for U.S. President Barack Obama’s presidential election campaign.

WestJet is the 10th-busiest airline serving Hawai‘i, having flown 116,788 people to the state in 2009, according to Pacific Business News research.

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Maui County has had Nearly 2 Million Visitors in the First 11 Months of 2010

Spending, visitor numbers up across state

December 29, 2010 – By HARRY EAGAR, Staff Writer
Article from: The Maui News
Maui County welcomed 168,131 visitors in November and has had nearly 2 million in the first 11 months of 2010.

That is far below record levels, but the November figure is an 18.8 percent improvement over the same month last year, and the year-to-date total is about 10 percent better than the slump year of 2009.

Statewide, total visitor arrivals were up 18.2 percent to 577,540 in November. For the first 11 months of the year, total arrivals rose 8.6 percent to nearly 6.5 million visitors.

The figures were released Tuesday by the Hawaii Tourism Authority and gave increased evidence of a surging rebound in the visitor industry. The rest of the state’s economy is not doing so well, according to a report earlier this month by the University of Hawaii Economic Research Organization.

However, as the largest single source of jobs, income and taxes, the visitor industry is bound to help pull the island economy up if it continues to recover.

“The numbers are looking really strong,” said Terryl Vencl, executive director of the Maui Visitors and Convention Bureau. “A robust industry can yield taxes and even locally grounded spending that is not just visitor spending.”

This is the trickledown effect, Vencl said, that allows people even in sectors apparently isolated from tourism to “pay their rent and bills and gas.”

Every county had double-digit increases. Visitors to Oahu were up 15.7 percent to 349,675. Kauai was up 14.6 percent to 71,961. Hawaii was up 16.4 percent to 101,510.

The total of visitor-days from January through November is 59 million.

Spending grew even faster than head count, by 30.4 percent statewide (36.7 percent on Maui island), to $976 million in November. That was an increase of $228 million over November 2009.

The increase also represented the third consecutive month that total visitor spending increased by double digits statewide.

For the first 11 months, spending totals $10.3 billion, up 16 percent.

Authority President and Chief Executive Officer Mike McCartney said Hawaii’s rate of recovery was well ahead of competing destinations, such as Mexico and the Caribbean. But the state’s tourism sector has a long way to go to offset recession-induced declines over the last two years, he added.

”This means that, more than ever, we need to continue our focused marketing efforts to maintain the momentum we’ve achieved in boosting arrivals and increasing visitor spending,” McCartney said.

Tourism authorities attributed the big rise in visitor spending in part to an 18.2 percent jump in visitor arrivals to the islands last month compared with the same month in 2009.

That included sizable increases in the number of tourists who flew to Hawaii from the West Coast and Canada last month, and also those who arrived by ship.

For example, 44 percent more Canadians and 76 percent more Japanese visited Kauai in November compared with the same month last year. About 27 percent more residents of the West Coast visited Oahu last month than a year ago.

But the total number of visitors who arrived in the islands between January and November of this year was up only 8.6 percent, compared with the same 11-month period in 2009.

Of the six Hawaiian islands the tourism report studied, visitor spending rose the most on Lanai, by 38.6 percent to $6.2 million.

Spending increased on the Big Island by 36.9 percent to $124.8 million; on Maui by 36.7 percent to $252.6 million; on Molokai by 33.5 percent to $2.5 million; on Oahu by 27.7 percent to $497.1 million; and on Kauai by 19.7 percent to $88.3 million.

* Harry Eagar can be reached at heagar@mauinews.com. The Associated Press contributed to this report.