Palau /pəˈlaʊ/ , officially the Republic of Palau (Palauan: Beluu er a Belau), is an island nation in the Pacific Ocean, some 500 miles (800 km) east of the Philippines and 2,000 miles (3,200 km) south of Tokyo.
Having emerged from United Nations trusteeship(administered by the United States) in 1994, it is one of the world’s youngest and smallest sovereign states.
In English, the name is sometimes spelled Belau in accordance with the native pronunciation. It was formerly also spelled Pelew.
Consists primarily of tourism, subsistence agriculture, and fishing. Tourist activity focuses on scuba diving and snorkeling in the islands’ rich marine environment, including its barrier reefs walls and World War II wrecks.
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-term 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.
Notes from Wikipedia