Guam - The economic outlook for Guam is stable - that's according to a panel of economic professionals who spoke before the business community at the Guam Chamber of Commerce's seminar at the Outrigger this morning. And while there's a lot of potential for increases and expansions, the economists note that the economy globally will also have to be taken into consideration.
Bank of Guam chief economist Joseph Bradley said, "With a lower value of the Yen, Guam looks more expensive from the Japanese perspective but with the lower of the value of the Yen, employment in Japan is rising, incomes in Japan are rising and so forth." DOL chief economist Gary Hiles added, "It means that there could be continued or increased demand for travel for Guam, but it also could mean they could spend less on shopping when they get here because of the change in the exchange rate."
For more information on key Guam economic statistics go to dol.guam.gov.