Business confidence in the Pacific declined slightly with 72% confident they will survive COVID-19 (down from 74% in Survey 3)
The results have been published in Pacific Trade Invest (PTI) Pacific Business Monitor Report. This report accumulates the result of regular surveys conducted by PTI’s global network, which aim to understand the ongoing effects of COVID-19 on the Pacific’s private sector.
Key insights from the PTI Pacific Business Monitor Report July Survey 4 include:
COVID-19 continues to have a negative impact on businesses. The level of impact on businesses is on par with the last two survey waves, with just under two-thirds reporting a very negative impact in Survey 4.
In line with Survey 3, over two-thirds of businesses continue to report a significant decline in revenue due to COVID-19.
As the negative impact on businesses and revenue has remained steady this wave, perception of the local economy remains relatively steady as well, with 90% continuing to report a negative impact on the local economy.
72% are confident their business will survive the COVID-19 crisis (down from 74% last survey).