If I were to do so, when could we see the economic situation in Hawaii start to rebound? Would the tech industry recover faster or slower on the whole?
I think the biggest threat to the Hawaii economy and the tech industry is the price level of gas. Depending on the price of gas, this has the potential to not simply be a cyclical process but a long term drop in economic activity.
Look at the rapid switch from SUVs to hybrids, the fall of the American motor companies, the move to 4 day work weeks, housing price falling faster in outer lying suburbs. All of these are very specific responses to the rise in gas prices. Unless gas prices drop or substitutes are found, these look to be long term, permanent drops/shifts in the economy.
I think the scary thing for Hawaii is that our location makes us the 'SUV' of geographical regions. The drop in tourists is already steep and, unless gas prices drop, this will not recover for a long time. In other words, I don't think this is simply a normal cyclical contraction that will naturally resolve itself in 12 - 24 months. It may not come back for year, depending on gas prices.
I think the tech industry will obviously be affected. How much so certainly depends on the sector as technology is a very broad and diverse segment in an of itself.
Brooke Fujita said:If I were to do so, when could we see the economic situation in Hawaii start to rebound? Would the tech industry recover faster or slower on the whole?