Does Guam have a strong Economy?

Question

Does Guam have a strong Economy?

Answer 1

Last I heard...no

Answer 2

Guam is a little nothing  island and the only economy they have is through the USA base there!

Answer 3

Given its size and only a US base for employment, I'd say no.

Answer 4

Yes, though I would say it has a strengthening economy, currently recovering from setbacks (super-typhoon strikes, an earthquake, Japanese and international economic slow-down) pegged to tourism spending, it's main service. Aside from tourism, the U.S. Military (projected to be over 1 billion dollars over the next few years) and Guam government spending (it's largest employer) are its largest revenue generators. Guam also enjoys a strong shipping industry due to its position in the Pacific, with transshipments of petroleum products and exports of handicrafts and fish. However, all of its sources of energy are imported, leading to a trade deficit. In summary, Guam has a strong economy as long as other international powers are enjoying economic prosperity, and suffers likewise.