National Airline or National Burden??

Do we need a National Airline?


I was recently sitting in the departure lounge at the international terminal waiting to board the plane for Brisbane. At check-in, I was told that the plane was full, and looking around, I saw a mixture of passengers. There were tourists, local residents, and a lot of seasonal workers. Full planes mean good loadings and this is good for Air Vanuatu. However, Vanuatu’s embattled airline has had its fair share of problems and the problems go deeper and further back into its thirtyplus years of existence. In its 2020 financial statements, the numbers are quite concerning. As of 31st December 2020, Air Vanuatu has accumulated losses of VT7.785b with a negative equity position of VT3.12b. Its solvency has only been possible with the support of the Vanuatu Government and, therefore, the taxpayers of Vanuatu.

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economies

Half Yearly Economic and Fiscal Update 2022

In July, the Vanuatu Govt published its half-yearly Economic and Fiscal Update. The published report outlines the state of the Economy and how the Vanuatu Government has been managing its fiscal policy. In this article, the VBR will summarize the key points covered in this reportOverview Read more»

The Vanuatu Employment Conundrum

The Vanuatu Employment Conundrum

Arguably, employees of any organization are the most valuable resource in an organization. Productive, motivated and well remunerated staff are behind any successful organization.At 2.4%, Vanuatu had one of the highest rates of population growth rate for 2020 in the world, outside of Africa. In the Oceania region, it is only exceeded by Solomon Islands at 2.5%. Over half of the population (53.64%) is under the age of 24. Each year, thousands of young ni vanuatu leave school and go out in the workforce. The prospects of finding jobs for these school leavers is very much dependent upon economic growth with demand for new employees only coming about through growth in the economy and new business investments. Read more»

Air Vanuatu’s Plans for Reconnecting Vanuatu

As Vanuatu prepares to reconnect to the rest of the world following the government announcement of border opening on 1st of July, there’s a lot of speculation about what this will reallylook like and how ready we will be. A vital part of this reconnecting for us as an island nation, is about our national airline Air Vanuatu. In this modern world, flying has become second naturefor most of us. All our international students, labour mobility workers and business connections these days rely on international flights. So, the airline connections are critical to the country. Read more»

UNLOCKING THE POTENTIAL OF RURAL TOURISM

UNLOCKING THE POTENTIAL OF RURAL TOURISM

From staring into the depths of an active volcano, to swimming with dugongs, to tramping through lush rainforests, to simply lying on a beach, the pristine and untouched beauty of Vanuatu offers unforgettable sights from north to south. This is complemented by the friendly and welcoming nature of the hosts and the unique culture on show, which creates lifelong memories and makes holidaying around Vanuatu a genuinely special experience. Read more»

manples market

Business Lockdown

On 04 March 2022, an active COVID-19 case was confirmed at Vila Central Hospital who had no travel history, indicating transmission at community level. On 6 march a Declaration of Public Health order was signed by the Minister of Health at the time. The order was for an immediate lockdown of Efate and Offshore islands. Non-essential businesses were to cease operating and all inbound and outbound domestic travel including inter island shipping stopped. A curfew was applied from 6pm to 6am for 72 hours. Read more»

Kava plant

The Vanuatu Agriculture Revolution

In March, due to the threat posed by COVID-19, the Vanuatu Government closed its borders and in doing so, closed down the Tourism Sector. At the beginning of April, Tropical Cyclone Harold, a Category 5 cyclone passed over the northern island of Santo causing massive damage to infrastructure, food gardens and buildings. The losses from this natural disaster was in excess of US$100m. Read more»

VANUATU TOURISM POST COVID-19

istry of Health released its Road Map for the Safe Reopening of Borders in December 2021. It outlined a proposed 3-Phase approach for the re-opening of Vanuatu’s border. The purpose of this Road Map was to define Health Measures to reduce the risk of importation, spread and impact of COVID-19 during the phased re-opening for quarantine free entry. Read more»

YEAR 2021 IN REVIEW

As we look ahead to 2022, the Vanuatu Business Review has selected a few stories from our archive to reflect onthe year that has just past. Whilst there have been signs of recovery in some of the sectors in the economy, othersectors continue to be seriously affected. The main story last year continues to be COVID and its effect on theeconomy. Government VAT revenues have continued their decline from previous years reflecting slowing consumingdemand Read more»

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