PTI PACIFIC BUSINESS MONITOR

Business confidence in the Pacific is improving with 74% confident they will survive COVID-19 (up from 70% in Survey 2)

The results have been published in Pacific Trade Invest (PTI) Pacific Business Monitor Report. This report accumulates the result of fortnightly 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 Survey 2 include:

  • COVID-19 continues to have a negative impact on businesses. The level of impact on businesses is on par with the last wave, with two-thirds reporting a very negative impact in Survey 3.

  •  In line with a steady negative impact on business, 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 nearly three-quarters continuing to report a negative impact on the local economy.

  • 74% are confident their business will survive the COVID-19 crisis (up from 70% last survey).

  • The level of uncertainty surrounding when businesses expect to return to business, as usual, is declining (17% vs 23% last wave), which may explain rising confidence. Just under half of businesses expect to return to normal in 2021, but less expect to return this year.

  • 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 (90%)
  • Top 3 initiatives businesses need support with
    •  49% Financial Support (51% last survey).
    • 31% Review/Update financial position (30% last wave).
    • 30% Diversify business (27% 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%.

The voice of the Pacific's Private Sector is stronger together -  The fourth survey is open until Sunday 5 July we encourage all businesses in the Pacific to be part of this important ongoing research. 

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