Company: OIA
Filing Date: 2025-02-07
Form Type: N-2/A
Source: 0001104659-25-010545
Chunk: 186

Company: Invesco Municipal Income Opportunities Trust
Filing Date: 2025-02-07
Form: N-2/A
Chunk 186
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 decreased by 18.9%. Goods exports declined due to lower crude oil and petroleum products exports, while services exports increased due to higher visitor spending. Total visitor arrivals were 69.7% higher in 2022 than in 2021. Visitor arrivals reached roughly 2.4 million in 2023, marking a rise of around 582,385 visitors over 2022—or a 32.1% increase. Furthermore, visitor arrivals surpassed pre-pandemic levels by 15.5%. Air arrivals totaled 782,022. A total of 1.6 million cruise guests visited the territory in 2023, accounting for 67.4% of visitor arrivals in 2023. As of July 2024, the Virgin Islands’ had an unemployment of approximately 3.8% which was down from 3.7% in July 2023. The Virgin Islands’ unemployment rate was lower than the national average which was 4.3% for the same periods. The Virgin Islands’ economy has faced setbacks in recent years largely as a result of the lingering effects of the economic recession in the United States, the impact of natural disasters, the closure of the HOVENSA petroleum refinery and the COVID-19 pandemic. These factors have placed financial stress on key segments of the Virgin Islands’ economy. The tourism sector constitutes a significant portion of the Virgin Islands’ economy. However, because of its geographical location, the Virgin Islands is subject to natural disasters, including hurricanes, that can cause considerable damage to the territory and disrupt the tourism industry. Any additional natural disasters that impact tourism could adversely affect the Virgin Islands’ economy. Furthermore, the Virgin Islands was closed to tourists from March to May 2020 and from August to September 2020 due to the COVID-19 pandemic. As of September 19, 2020, the Virgin Islands has reopened to tourism. However, the current and long-term impact of the pandemic remains unknown. The United States continues to be the primary source of visitors to the Virgin Islands. Therefore, any gains in the tourism industry are closely related to economic growth in the United States. In order to expand its tourism industry and insulate the islands from potential economic declines in the United States, the Virgin Islands has begun, in recent years, increasing its tourism marketing to other countries and regions and is evaluating ways to reposition itself as a leading tourism destination through a private-sector driven approach. Important private sector activities in the Virgin Islands include wholesale and retail trade, leisure and hospitality, financial