Company: OIA
Filing Date: 2025-02-07
Form Type: N-2/A
Source: 0001104659-25-010545
Chunk: 185

Company: Invesco Municipal Income Opportunities Trust
Filing Date: 2025-02-07
Form: N-2/A
Chunk 185
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 of the pandemic on employment in the U.S. Virgin Islands was substantial. From February to May 2020, the Territory’s unemployment rate grew from 4.5% to 13.6% but has since fallen to 5.6% as of August 2022. Exports declined partially due to the unprecedented losses in travel and tourism. Tourism is the Territory’s primary export and the sector most impacted by the pandemic. The industry experienced a near halt to air leisure and business travel in 2020 and the cancellation of all cruise ship calls throughout most of 2020 and early 2021. Consequently, air visitors fell 35.1% in 2020 to 442,027 from 640,887 in 2019 before rebounding 96.7% to a high of 824,460 in 2021. Cruise passenger visitors plunged 69.3% to 442,027 in 2020 but began to recover in the second half of 2021 and by year’s end, reached 245,695— still about 82.9% below the 1.4 million cruise passengers in 2019. Businesses also spent less money on construction and equipment, triggering a 27.7% decline in private fixed investment. In addition, declining government spending from fading disaster response and hurricane recovery activities weighed on gross domestic product growth, decreasing that component by 4%. Imports fell 10.6%, reflecting declines in imports of goods, including consumer goods and equipment, and other services. The U.S. Census Bureau released the 2020 decennial census counts in 2021. Between 2010 and 2020, the Virgin Islands’ population fell 18.1%. According to the Virgin Islands Bureau of Economic Research, residents of the Virgin Islands received approximately $2.9 billion in estimated personal income in 2021. As a result, residents of the Virgin Islands had a per capita personal income of $27,049 in 2021. C-10 In 2022, the Virgin Islands’ real gross domestic product (GDP) decreased by 1.3% following a 3.7% increase in 2021. The increase in real GDP reflected increases in exports and personal consumption expenditures. This was due to reductions in exports, private investment, government spending, and personal consumption, partially offset by an increase in inventory investment. Imports, a subtraction item in the calculation of GDP, also decreased. In 2022 the export of goods and services