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The economic development plan provides a comprehensive overview of the economy, sets policy direction for economic growth, and identifies strategies, programs, and projects to improve the economy.
Welcome to the Guam Economic Development Authority (GEDA) website. Our mission is to develop a sound and sustainable economy through innovative programs that preserve and promote local culture, economic opportunities and quality of life.
US national defense spending is the main driver of Guam's economy, followed closely by tourism and other services. Guam serves as a forward US base for the Western Pacific and is home to thousands of American military personnel.
A National Economic Development Plan will analyse the country's objectives and priorities in relation to all these sectors in response to well-identified national needs.
The ILO defined it as ?LED is a participatory development process that encourages partnership arrangements between the main private and public stakeholders of a defined territory, enabling the joint design and implementation of a common development strategy, by making use of the local resources and competitive ...
Real gross domestic product (GDP) for Guam increased 1.1 percent in 2021 after decreasing 11.4 percent in 2020. The increase in real GDP reflected increases in personal consumption expenditures, government spending, and private fixed investment.
Guam's economy is expected to continue expanding and recovering throughout Fiscal Years 2023 and 2024. This economic expansion and partial recovery began in 2021 and 2022, restoring Guam's growth trend.
The Guam Comprehensive Economic Development Strategy (CEDS) is the result of a process initiated to provide direction, focus and priority for Guam's efforts and guide federal assistance and private investment in order to stabilize and grow the economy to improve quality of life and public services.