Monika Singh
3 April, 2021, 10:30 pm
The Pacifi c Business Monitor Fiji Focus 2020 Report
found that COVID-19 had a signifi cant impact on the
normal operation of businesses in Fiji, especially from
July to October 2020. Picture: SUPPLIED
THE continued impact of closed international borders in the heavily international tourism dependent country is placing immense pressure on business owners in Fiji and the Pacific.
Pacific Trade Invest (Australia) trade and investment commissioner Caleb Jarvis cited their recent Fiji focused report which found that in 2020 businesses in Fiji were more challenged by poor cashflow, local lockdowns, limited access to finance and the increasing cost of products/raw materials compared with businesses in the Pacific region.
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| No. 334
News
Despite having few or no coronavirus infections, Pacific island nations have not been immune to the economic devastation of the pandemic, leading to a jostling for power as Australia and the US contend with China for regional influence.
By
Nic Maclellan.
Pacific islands take economic hit
As fruit ripens in Australian vineyards and orchards, growers are desperate for pickers. With the departure of tens of thousands of backpackers because of Covid-19, the expansion of Pacific seasonal work programs may provide a crucial harvest workforce for Australian farmers – and a vital source of employment in the islands, which have been economically ravaged by the pandemic.
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Survey Shows Unrelenting Impacts Of COVID-19 On Businesses In The Solomon Islands
According to the December survey, nearly a quarter of businesses remain temporarily closed while another 43 per cent are only partly operational.
Source: File Thursday, 17 December 2020 12:43 PM
This year’s final Pacific Business Monitor, a monthly survey tracking the effects of COVID-19 on businesses in the Pacific region by the Pacific Trade Invest (PTI) global network, highlights the persistent and severe effects the pandemic has had on businesses in the Solomon Islands and the Pacific throughout 2020.
Across eight months of surveying, over 85 per cent of respondents have consistently reported negative impacts on their business due to COVID-19, as well as loss of revenue and perceived damage to the local economy.