24 May 2016

World Bank urges Pacific to entice retirees to invest

7:54 pm on 24 May 2016

A new report on Pacific tourism says that the region needs to capitalise on the global ageing population and attract retirees to invest in properties.

Pacific beach

Photo: RNZI / Mary Baines

The Pacific Possible Tourism report suggests Pacific Islands countries are set to gain more from cruise tourism, and the rapidly-growing Chinese market.

Pacific countries should also try to attract more high-end hotel chains, according to the report.

The World Bank's John Perrottet said another opportunity was to tap into the expanding retiree market and entice people to invest.

He said although there were problems to overcome, research showed it had been a lucrative market in other parts of the world.

"For that market to really be developed you need to be confident that you can spend ten years plus in a country and then be able to liquidate your assets when you retire back to the country where you came from," explained Mr Perrottet.

"You also need to be confident that you can actually keep your money in the bank while you're there and that there won't be any sort of disasters in that respect."

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