Company: OIA
Filing Date: 2025-02-07
Form Type: N-2/A
Source: 0001104659-25-010545
Chunk: 181

Company: Invesco Municipal Income Opportunities Trust
Filing Date: 2025-02-07
Form: N-2/A
Chunk 181
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4.140 billion in personal consumption expenditures, $4.633 billion in government consumption expenditures and gross investment and 2.013 billion in private fixed investments less $3.876 billion in net export of goods and services increase in real gross domestic product for Guam increased 5.1% in 2022 after increasing 2.1% in 2021. The increase in real domestic product reflected increases in exports, private fixed investment, government spending and personal consumption expenditures. Imports, a subtraction item in the calculation of GDP, increased. The Guam Government, residents and businesses received and estimated $3.8 billion through various federal stimulus programs enacted following the start of the COVID-19 pandemic. Guam received 1.8 billion under the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020; the Guam government received its full share of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 ($553.6 million); and Guam received $1.5 billion from ARPA. Guam’s economy is expected to continue expanding and recovering from the pandemic downturn throughout Fiscal Years 2024 and 2025. This economic expansion and partial recovery began in 2021 and 2022, restoring Guam’s growth trend. Further, increased Economic activity is anticipated due to simultaneous increases in construction including the progression of the Camp Blaz Marine Corps base construction activity nearing its planned peak, missile defense construction, private and Government construction projects, and continued recovery in the tourism sector from Korea and Japan. The three primary sources of inflows of funds to Guam are from tourism, federal expenditures, and construction capital investment. Tourism has begun a partial rebound from the pandemic virtual shutdown in March 2020, continuing into 2022. Calendar year 2023 visitor arrivals rose by approximately 101% over 2022, although they were still less than half of pre-pandemic levels. Federal government expenditures now represent the largest single source of funds flowing to Guam. Federal government expenditures in recent years were the second-largest source of funds, well behind tourism expenditures in recent years. The pandemic induced reduction in tourism, and an increase in federal expenditures changed that. C-8 Economic, social and political conditions in Japan, South Korea and throughout the Pacific Rim, and the resulting effect on overseas travel from these countries, are a major determinant of tourism on Guam. Tourism, particularly from South Korea and Japan, where approximately 85% of visitors originated over the past several fiscal years (including FY 2021), represents a significant