Asian Development Bank and Cook Islands: Fact Sheet

Abstract

Updated yearly, this ADB Fact Sheet provides social and economic indicators on the Cook Islands as well as concise information on ADB's operations in the country and contact information. The Cook Islands is among the best performing Pacific economies; however, fiscal sustainability remains fragile and the small economy relies heavily on tourism, an industry expected to be significantly impacted by the global economic slowdown. Other threats to sustained economic growth include environmental damage; infrastructure constraints; and weak policy, planning, and project preparation capacity, as well as an emerging labor shortage. The economy is also vulnerable to natural disasters: in just 2 months, from February to March 2005, cyclones Meena, Nancy, Olaf, Percy, and Rae swept the country, causing substantial damage to infrastructure and agriculture.