Palau

The Republic of Palau is an island nation in the Pacific Ocean, located some 500 km east of the Philippines. Having emerged from United Nations trusteeship (administered by the United States of America) in 1994, it is one of the world's youngest and least populated nations.

Economy

Main article: Economy of Palau

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

The economy consists primarily of tourism, subsistence agriculture, and fishing. The government is the major employer of the work force, relying heavily on financial assistance from the US. Business and tourist arrivals numbered 50,000 in the financial year 2000/2001. The population enjoys a per capita income twice that of the Philippines and much of Micronesia. Long-run prospects for the key tourist sector have been greatly bolstered by the expansion of air travel in the Pacific, the rising prosperity of leading East Asian countries, and the willingness of foreigners to finance infrastructure development.

Related Topics:
Tourism - Agriculture - Fishing - Micronesia

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

In July of 2004, Palau Micronesia Air was launched with service from Palau to Yap, Guam, Micronesia, Saipan, Australia, and the Philippines. Unfortunately, it ceased operations in December of the same year and has not restarted operations since.

Related Topics:
2004 - Palau Micronesia Air

~ ~ ~ ~ ~ ~ ~ ~ ~ ~