Published on : Wednesday, March 14, 2018
Of late, at a legislative hearing on a probable new sales tax burden on the residents and businesses in Guam, one thing was crystal clear: The Government of Guam’s revenue collection deficit are not exclusively the mistake of the tax cuts of the federal government which caused the local government to create seeing reduced tax collections.
At the same time, tourism in recent times has been going through massive challenge as well.
One of the major issues in terms of economy that our island faces is the change in the kind of visitors who enter the island and damage our resources, as pointed out by the senators. These numbers from the Guam Visitors Bureau’s data present a harsh reality
Last year, the Japanese market was just half of what it was previously, offering Guam with 620,547 tourists, or 40 percent of the market.
In 2017, South Korea went beyond Japan, providing Guam with 684,443 tourists, or 44 percent of the market.
Back in 2013, Guam welcomed more than 893,118 tourists from Japan and 245,655 tourists from South Korea.
As per the new GVB exit survey, on an average, South Korean tourists spend almost $187 per visitor. Japanese tourists spend on average $578 per traveler during their visit to Guam.
The huge volume of the tourists who visit Guam are no longer the main tourists from Japan who had more to spend for themselves in terms of gifts and dinners, and for gifts for friends and family back home.
Tags: Guam is all set to alter