Economist says Guam’s economic future remains unpredictable

Updated: Jul 15

Bank of Guam economist Joe Bradley speaks before the Rotary Club of Northern Guam a the Hilton Guam Resort July 14, 2021. Photo by Mar-Vic Cagurangan

Guam’s post-lockdown economic activity may have returned to “some semblance of normalcy or some notion of what it was before,” but unpredictable variables are clouding the long-term outlook for the island, Bank of Guam economist Joe Bradley said Wednesday.

“You want to know Guam’s economic future? I don’t know,” Bradley said candidly, speaking at the Rotary Club of Northern Guam’s meeting at the Hilton Guam Resort and Spa.

“There are too many moving parts to even pretend to forecast Guam’s economic future,” he added.

Bradley noted that 40 percent of Guam’s economy is based on tourism, whose recovery is dependent on travel demand.

"But who wants to go on vacation when you have to quarantine for two weeks?" Bradley asked.

He also noted that Covi