COVID-19 is causing havoc on economies the world-over, more so for pacific island economies. PTI NZ understands the difficulties our clients face on the ground in their own countries as well as with their exporting countries. We are here to help you.
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PTI Pacific Business Monitor
The effects of COVID-19 will be felt through the Pacific for months to come. As a global PTI network, we have launched the PTI Pacific Business Monitor Survey, a fortnightly survey to understand and provide governments, donors and stakeholders with needed data of how businesses in the Pacific are doing.
Key insights from the PTI Pacific Business Monitor Report October Survey 8 include:
- The extent and severity of COVID-19 on Pacific businesses has decreased, with 85% reporting a negative impact, the lowest since tracking began (down from 92% last wave).
- 75% of businesses are confident that they will survive the COVID-19 crisis, which is the highest since tracking began (up from 67% last wave).
- The proportion of businesses expecting to return to business as usual in 2021 has increased to 34% (up from 25% last wave).
- The negative toll on mental health has improved with 62% reporting negative impacts on their mental health (down from 74% last wave).
- The top three challenges as a result of COVID-19 remain:
» Poor cashflow (90%)
» Impact of closed international borders (89%)
» Not knowing how long the crisis will last (88%)
- Top 4 initiatives businesses need assistance with remain:
» Financial support (54%)
» Diversifying business (40%)
» Review/Update financial position (33%)
» Access to new markets (33%)