Pacific Islands Economic Outlook 2023

After two long years of COVID-19 and the tourniquet it applied to the lifeblood of Pacific economies— connectivity and tourism — what can our region expect in 2023?

The United Nations predicts the global economy will slow to 1.9% growth this year, one of the lowest growth rates for decades (excluding the height of the COVID-19 pandemic and 2007-8 financial crisis). The International Monetary Fund puts it marginally higher at 2.7%, which is still a record low.

“In most countries we expect that private consumption and investment will weaken due to . . .

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