“My Economy” tells the story of the new economic normal through the eyes of people trying to make it, because we know the only numbers that really matter are the ones in your economy.
The COVID-19 pandemic has been a big influence on a people’s decision to travel and where they go. In the past, holidays are big business for the hospitality industry. Hotel rates could easily double due to high demand. But not this year.
In Hawaii, the lack of tourism has caused shops and restaurants to close down. And hotels that rely on tourism have struggled. Before the pandemic, as many as 30,000 visitors arrived a day. That dropped to fewer than 500 in March, after strict travel rules were put in place.
Hawaii eased some of those travel restrictions in October, allowing tourists to visit the islands again. However, it’s not back to normal.
In this installment of our series “My Economy,” we spoke with Thomas Fairbanks, owner and innkeeper at The Old Wailuku Inn at Ulupono in Maui. Fairbanks has been in the hotel business for almost 50 years.
“So, it’s kind of my life,” said Fairbanks.
Fairbanks runs The Old Wailuku Inn with his wife, Janice, whom he met 47 years ago while working in the industry.
“Right now, business is very slow because of the COVID going on,” said Fairbanks.
Before the pandemic, Fairbanks was seeing about 80% occupancy. Now that the state is reopened, his bed-and-breakfast is only about 10% filled — but he is going to take what he can get.
“We always have to feel hopeful,” said Fairbanks. “Otherwise, its not worth getting up and keeping the doors open.”
Let us know how your economy is doing using the form below, and your story may be featured on a future edition of “My Economy.”
Which essential workers should be prioritized for vaccines?
Front-line health care workers and residents of long-term care facilities are getting the shots first, according to Centers for Disease Control and Prevention guidance. Essential workers will be considered next, but with limited vaccine doses and a lot of workers considered essential, the jockeying has already started over which ones should go to the front of the line: meatpacking workers, pilots, bankers and ride-share drivers among them. The CDC will continue to consider how to best distribute the vaccine, but ultimately it’s up to each state to decide who gets the shots when.
Could relaxing patents help poorer countries get vaccines faster?
The world’s poorest countries may not be able to get any vaccine at all until 2024, by one estimate. To deliver vaccines to the world’s poor sooner that, some global health activists want to waive intellectual property protections on vaccines, medicines and diagnostics. India, South Africa and Kenya have asked the World Trade Organization to allow pharmaceutical plants in the developing world to manufacture patented drugs without having to worry about lawsuits. The United States, Britain and the European Union, have repeatedly rejected the proposal at the WTO.
The Pfizer vaccine has to be kept in extreme cold at minus 94 degrees Fahrenheit. And keeping it that cold requires dry ice. Where does that dry ice come from?
Also, is there enough of it to go around? And how much is it going to cost? The demand for dry ice is about to spike, and a whole bunch of industries are worried. Now, dry ice sells for $1 to $3 a pound. While the vaccine gets priority, smaller businesses and nonessential industries may end up losing out.
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December 25, 2020 at 04:33AM
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Not the usual crowd for the holidays in Hawaii - Marketplace
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