Guam

 

At A Glance

Guam, officially the U.S. Territory of Guam, is located in the Western Pacific Ocean and is an organized unincorporated territory of the United States, a status dating to the culmination of the Spanish-American War in 1898. It is a U.S. community protected by the U.S. Constitution. The U.S. dollar is our basic currency. The Internal Revenue Code is our income tax law.

Guam possesses a strategic location in the Pacific Rim. The island is the “Gateway to Asia” and is the closest U.S. possession to the Asian theater. Its location facilitates access to and from major Asian markets by being only three to four hours flying time to Japan, Korea, Okinawa, Taiwan, Hong Kong, China and the Philippines. America’s trading partners in Asia are the key markets for Guam’s tourism industry, the island’s economic mainstay. Guam’s Tumon Bay is home to elegant world-class hotels and diverse international cuisine that can compete with the finest of any metropolis.

The Island

Guam is located 900 miles north of the equator at 13°28" North Latitude, 144°44" East Longitude. Guam covers approximately 212 square miles (549 sq.km). It is the southernmost of the Mariana Islands and shares a common culture with the rest of the islands, which include Saipan, Rota and Tinian. The original inhabitants of Guam, the Chamorro people, are thought to have traveled to the Marianas from Southeast Asia.

Climate

Guam has a tropical climate with a temperature range from 74 degrees to 92 degrees Fahrenheit (23 – 33 degrees Celsius). It has an annual rainfall of approximately 85 – 100 inches. Its dry season is from December to May and its rainy season is from June to November.

Taxes

Guam residents and corporations pay a “mirrored” U.S. income tax with filing and payment to the Government of Guam. U.S. Social Security tax laws apply to employee wages, with taxes withheld and deposited in the IRC and reporting to the IRS. For more information about Guam tax laws visit online www.guamtax.com.

  • GDP (2005) = $2.5 billion
  • Per Capita GDP = $22,661

*Bureau of Labor Statistics

Employment (as of Dec. 2011)

  • Private sector job count = 46,480
  • Federal government job count = 4,150
  • Local government job count = 11,940
  • Minimum Wage = $7.25 per hour

Unemployment rate

  • (as of March 2011) = 13.3%
  • Average household income (2010) = $49,263
  • Per capita income (2010) = $12,864
  • Mean earners income (2010) = $25,462

Population

Total: 159,358 (Source: U.S. Census Bureau 2010 Census)

Language

Guam has two official languages: English and Chamorro.