30 Jul 2009

Vanuatu's economy could help other Pacific nations says author of a report

11:07 am on 30 July 2009

An author of a report on Vanuatu's economy says its findings could help other Pacific nations.

Dr Stephen Howes is one of the authors of the study, "Fast Growth in the Pacific is Possible".

He says it shows that Vanuatu experienced an annual average growth rate of 6.6 percent between 2003 and 2008.

Dr Howes suggests other nations could also improve their economic situation by adopting two points noted in the Vanuatu model.

"You know, you've got to get the land market active because people have to be able to get land you know if they want to develop tourism say... (but) that doesn't mean you have to privatise land or that you have to move away from a customary land framework. And second thing is on that deregulation you know opening up the airline business and businesses in a number of countries have started to do that now because they've seen the benefits they'll get from lower fares, more competition and more tourists."

Dr Howes.