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PTI PACIFIC BUSINESS MONITOR
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PTI PACIFIC BUSINESS MONITOR - RECOVERY SERIES Q1 2022
The Pacific Business Monitor is a regular survey commissioned by the PTI Network to understand the ongoing effects of COVID-19 on the Pacific’s private sector, as well as identify challenges and support needed for businesses to recover.
This is our first report of the Recovery Series, which continues to provide longitudinal quantifiable data on the impact of COVID-19 on Pacific businesses, and now tracks quarterly revenue, as well as attitudes and responses towards building back better and business enthusiasm.
This wave shows that whilst the negative impact of COVID-19 on businesses across the Pacific remains severe, confidence of business survival amongst respondents is high, with 87% confident that they will survive the COVID-19 crisis - the highest figure since tracking began.
In line with this positive outlook, the report also indicates that 84% of Pacific businesses are confident that they will build back stronger, with 47% expecting their revenue to improve over Q2 of 2022.
KEY INSIGHTS – PACIFIC BUSINESS MONITOR – RECOVERY SERIES Q1 2022
- 84% of Pacific businesses reported a negative impact due to COVID-19 over Q1 2022.
- 74% of Pacific businesses have reported a decline in revenue due to COVID-19 over Q1 2022.
- 84% of Pacific businesses are confident that their business will build back stronger from the COVID-19 crisis.
- The top three challenges facing businesses as a result of COVID-19 are:
» Increasing costs of products/raw materials (88%)
» Poor cashflow (87%)
» Not knowing how long the crisis will last (84%) - The top three measures businesses require to build back stronger are:
» Better cashflow (88%)
» Financial support (86%)
» Review or update of business processes (86%) - 83% of female-led businesses are confident that they will be able to build back stronger, compared to 85% of male-led businesses.
View and download the report below.
PTI Pacific Business Monitor - Recovery Series Q1 2022 Report
Download the PTI Pacific Business Monitor - Recovery Series Report to understand the impact of COVID-19 on Pacific businesses in Q1 of 2022.
