Tourist Attraction Fund increases 10% in fiscal 2016

TAMUNING, Guam — The Tourist Attraction Fund revenues for fiscal 2016 increased to $40.9 million from $37 million, or a 10% increase from the prior year, according to a March 29 release from the Office of Public Accountability. This represents the fund’s highest tax collections in more than a decade. Growth for the last 10 years averaged 8%.

                 The increase was mainly due to the increase in tourist arrivals in 2016 and hotel room rates, according to the release. The fund’s combined . . .

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