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    Economic Growth and Sustainable Development in the Pacific Island Countries

    Juswanto, Wawan; Ali, Zulfiqar | December 2016
    Abstract
    Exports of the Pacific island countries (PICs) have increased by 169%, reaching $9.6 billion in the past 20 years. Given the lack of economies of scale as a result of their small sizes, the PICs need to establish “niche markets,” targeting high-end products or services. Lack of interconnectivity among the PICs because of inefficient transport infrastructure and a dearth of skilled labor remain key concerns in developing these niche markets. About 13% of the PIC population is either unemployed or underemployed, prompting them to seek work in Australia, New Zealand, and the neighboring countries, and the remittances they send form a critical slice of the countries’ gross domestic product. With the number of people over 60 years old increasing by 400 million in the next 15 years in Asia, the demand for skilled care workers is slated to increase, making the PICs a possible location for tropical retirement homes for Asia’s burgeoning middle class.
    Citation
    Juswanto, Wawan; Ali, Zulfiqar. 2016. Economic Growth and Sustainable Development in the Pacific Island Countries. © Asian Development Bank Institute. http://hdl.handle.net/11540/6775. License: CC BY 3.0 IGO.
    Keywords
    Development projects
    Infrastructure projects
    Transport projects
    Private enterprises
    Innovations
    Development
    Private Sector
    Private Sector Development
    Development Challenges
    Development Financing
    Infrastructure Development
    Private Sector Investments
    Infrastructure
    Capital
    Partnership
    Limited partnership
    Political participation
    Economic development projects
    Economic forecasting
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    Citable URI
    http://hdl.handle.net/11540/6775
    Metadata
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    adbi-pb2016-6.pdf (1.914Mb)
    Author
    Juswanto, Wawan
    Ali, Zulfiqar
    Theme
    Development
    Private Sector
    Labor Migration
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise