1945

Pacific Islands developing economies

The Pacific island countries are small developing economies, the challenges of which are well documented. Such challenges are similar in many ways, but also varied as these countries are different in terms of population size, land area, culture and natural resources. Although the Pacific island countries were not directly or immediately affected by the global financial crisis of 2008-2009, they took precautions to cushion any potentially adverse effects. Isolated and small, the Pacific island countries developed strong economic ties with the outside world, particularly in sectors such as tourism and fisheries. In addition, the Pacific island countries have maintained strong links with their diaspora communities in Australia, New Zealand and the West Coast of the United States, whose remittances came as an unexpected but welcome support during the crisis years.

Related Subject(s): Economic and Social Development
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