GVB audit shows 2% drop in tourist arrivals
by Nick Delgado
Guam - Guam's markets experienced an overall 2 percent decline in visitor arrivals last fiscal year. That's the numbers coming from audit the Guam Office of Public Accountability conducted on the Guam Visitor's Bureau. Despite the slight drop, Public Auditor Doris Flores Brooks says GVB ended Fiscal Year 2011 with a $1.6 million increase in net assets.
She says GVB has accumulated a strong cash position at $7 million compared to the $6 million in the prior year, noting, "For us, that's good news because remember last year after the tsunami we were all really quite concerned how would Guam be adversely affected and we are still seeing the rippling effect of it."
The audit also shows GVB was able to get $12.2 million from the Tourist Attraction Fund, and $1.12 million from in-kind contributions and membership dues.