Cook Islands and ADB
In the Spotlight
A new Asian Development Bank report says Pacific economies face lower growth and tighter fiscal conditions this year due to low commodity prices and severe cyclones.
ADB’s interventions in the Pacific should help countries reduce the high cost of doing business and providing services, develop capacity to manage risks from economic shocks, natural disasters, and climate change, as well as promote the creation of competitive high value-added goods and services.
Tourist arrivals declined slightly in the Cook Islands, where the tourism receipts-to-GDP ratio is about 60%. However, higher revennues from fishing license fees, fines for illegal fishing, and increased grants boosted fiscal resources. Download the latest Pacific Economic Monitor
This country brief highlights how ADB operations have helped the Cook Islands weather cyclones and fiscal crises, and contribute to stable economic and social infrastructure.
The Cook Islands consists of 15 small islands dispersed over 1.8 million square kilometers of the South Pacific Ocean.
Tourism is the country’s leading source of revenue, accounting for around 60% of gross domestic product, ahead of offshore banking, pearl farming, marine industry, and fruit exports. The Cook Islands is highly vulnerable to external economic shocks, especially falls in tourism, and is prone to natural disasters, particularly cyclones.
The country operations business plan (COBP), 2016-2018 for the Cook Islands focuses on renewable energy and energy efficiency, information and communication technology, public sector management, private sector participation, and capacity development.
Projects in the Cook Islands
No projects in this category were found.