Pacific Daily News, 12 September, 2006
The U.S. Pacific Command in 2005 produced the U.S. Pacific Command Asia Pacific Economic Update,” a report that summarizes the economic conditions in countries and territories in the Pacific region.
The report was prepared by the economic adviser at the U.S. Pacific Command, Leif Rosenberger, who has held the post since 1998. In the report, Rosenberger examined the strategy and performance of 43 economies in Asia and the Pacific, including Guam. Following several years of stagnation and decline, Guam’s economy is headed for recovery and growth.
In 2004, most of the economic, financial and security factors affecting Guam’s tourism were moving in directions favorable to the U.S. territory’s economy.
The two main engines of growth — tourism and national defense spending — are rising.
Japan’s recovery is driving the rise in tourism.
That said, Guam’s financial mismanagement is a formidable obstacle.
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