Small, isolated and vulnerable economies mainly faced by a lot of Pacific island countries have only tourism to rely on when…
Small, isolated and vulnerable economies mainly faced by a lot of Pacific island countries have only tourism to rely on when requirements under the World Trade Organisation (WTO) of free trade are fully implemented.
Economics lecturer at the University of the South Pacific in Fiji, Dr. Waden Narsey, was speaking in the Solomon Islands` capital Honiara advising the local government to prioritize tourism in preparation of the inevitable consequences of being a member of the WTO.
He said in the future, developed countries will flood local markets with cheaper products, mainly from Asian countries as a result of cheaper labor costs in these countries.
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