An economic forecast will soon be available to all Journal subscribers as compiled by First Hawaiian Bank.
The report features the general structure of Guam’s economy recent economic performance analysis by major external drivers; tourism and the military; real estate construction and an outlook for the future.
Laura-Lyn Dacanay vice president and region manager for Guam said in an earlier interview with the Journal "Things are changing significantly in our economic outlook. Our president [Donald G. Horner] came out here for John Lee’s retirement and in seeing what’s happening out here with all the changes he decided to commission this report."
Leroy O. Laney economics consultant to First Hawaiian Bank and professor of economics and finance at Hawaii Pacific University; was commissioned to compile the report.
In an earlier interview Laney said as a result of the military build up Guam’s economy will differ in the coming years from the overall national economy.
There are some surprises that can be gleaned from the forecast.
Part of the report points to growth outside of 8 000 Marines and their dependents moving to Guam. "Sometimes lost in the discussions about the Marine relocation is the fact that the Air Force has been planning independently expansions of its own. Information from AAFB [Andersen Air Force Base] indicates the sums plotted in Chart 7 at left have been budgeted for military construction at the base in coming years.
"The implications of all this for Guam economic growth are enormous " the report states.
The report also indicates some speculation by military leaders that there may be a possibility of privatizing military housing on Guam.
Dacanay said people are looking for information that would affirm the belief that the economy will continue to improve. MBJ
