Guam Economy

Condos Makati Best in Guam. Guam . Guam business directory, Although the island receives no foreign aid, it does receive large transfer payments from the general revenues of the U.S. federal treasury into which Guam pays no income or excise taxes; under the provisions of a special law of Congress, the Guam treasury, rather than the U.S. treasury, receives federal income taxes paid by local taxpayers to include military and civilian federal employees assigned to Guam. Guam’s economy mainly depends on US military (Air Force, Navy, and Military) spending and on tourist revenue. Over the past few years, the tourist industry grew quickly, making blast to hotel construction, developing golf courses, producing many restaurant and other tourist amenities. Guam is a popular destination to many tourists. There are like 20 huge hotels in the island’s tourist hub, which is Tumon. Plus they feature a, Sandcastle Las Vegas–styled shows, indoor aquarium, Pleasure Island district, Duty Free Shoppers like Galleria, and other shopping and entertainment venues. Guam Island is far way nearer from Australia and Asia compared to Hawaii. The island can serve over a million tourists per year which are mostly Japanese. In addition to that, they also receive many tourists from Korea, United States, Philippines, and Taiwan. Large sources of revenue come from duty-free designer shopping outlets, and the American-style malls: Micronesia Mall, Guam Premier Outlets, the Agana Shopping Center, and the world’s largest Kmart.

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