PTI PACIFIC BUSINESS MONITOR

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).

  • A quarter of businesses are still unsure when their revenue will return to pre-COVID-19 levels.
  • Top 3 challenges as a result of COVID-19 remain unchanged:
    • Not knowing how long the crisis will last (93%).
    • Impact of closed international borders (90%).
    • Poor cash flow (89%)
  • Top 3 initiatives businesses need support with
    • 57% Financial Support (49% last survey).
    • 33% Diversify business (30% last wave).
    • 31% Review/Update financial position (31% last wave).
  • 56% reported there are barriers preventing them from actioning initiatives, with the biggest barrier lack of finance (36%) followed by lack of government support/stimulus 24% and closed borders 20%.

PTI Pacific Business Monitor Reports

keyboard_arrow_rightPTI Pacific Business Monitor Reports - Survey 1

PTI Pacific Business Monitor Report - Survey 1

PNG Focus PTI Pacific Business Monitor Report - Survey 1

Vanuatu Focus PTI Pacific Business Monitor Report - Survey 1

Tonga Focus PTI Pacific Business Monitor Report - Survey 1

Fiji Focus PTI Pacific Business Monitor Report - Survey 1

keyboard_arrow_rightPTI Pacific Business Monitor Reports - Survey 2

PTI Pacific Business Monitor Report - Survey 2

Niue Focus PTI Pacific Business Monitor Report - Survey 2

PNG Focus PTI Pacific Business Monitor Report - Survey 2

keyboard_arrow_rightPTI Pacific Business Monitor Report - Survey 3

PTI Pacific Business Monitor Report - Survey 3