Tourism, fish will be star performers
Tourism and fish revenues will continue to be key drivers in the performance of the Pacific Island economies in 2020, the World Bank says, although it has urged island leaders not to throw caution into the wind over the matter of balancing national debts versus investment in infrastructure.
And while higher oil prices benefit oil-exporting countries like Papua New Guinea and Timor Leste, the bank is warning of immediate downside risks brought about the region’s vulnerability to climate change.
Already, Fiji, Tonga and Tuvalu have been impacted by one or two tropical storms just two weeks into the new year.
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