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Economy

Chinese market proves tricky

Friday May 04, 2018

Various challenges are putting a stumbling block against the Cook Islands Tourism Corporation’s aim to fully tap into the burgeoning Chinese tourist market.

The Cook Islands’ moderate per capita income level and relatively low government debt burden support the country’s “B+/B” sovereign credit ratings.

Cook Islands’ inclusion in a list published by Forbes earlier this year of “the 33 cheapest places to travel in 2018” has prompted some discussion online as to whether or not being labelled “cheap” is actually good publicity for the country.

Kora Pearls were one of the big beneficiaries of the Auckland Museum purchasing a “carload” of treasures from the Pasifika Business Market at Pasifika Festival last month.

The government’s total operating revenue and expenditure received as of April 25, 2018 has come in higher than estimated, according to the Pre-election Economic and Fiscal Update (PEFU) 2017/18.

Credit report warns of issues

Monday April 30, 2018

The Cook Islands’ narrow economic base plus the country’s infrastructure shortcomings, an absence of monetary policy flexibility, and information deficiencies, particularly in the external accounts, could weaken the country’s credit quality.

Managing director of Explore.com, Brett Baudinet, says his company’s recent tourism awards are a testament to their hard work and commitment to the industry.

The government is anticipating an increase in old-age pension payments as 15 per cent of the Cook Islands workforce is heading for retirement age in the next nine years.

Cook Islands Tourism Corporation chairman Ewan Smith made a stirring speech at Friday night’s Air New Zealand Cook Islands Tourism awards, praising government for its commitment to the industry, while also making a call to action.

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