As a country of over 600 islands, 800 languages and unmatched biodiversity, culture and nature are the primary attractions for visitors to Papua New Guinea. Although the country has a long history of tourism, the sector has remained largely undeveloped and accounts for only a small part of PNG’s economy. As the costs of travel are falling, thanks to factors such as an increase in hotel rooms...
As part of efforts to tackle the country’s over-reliance on mineral and energy exports, the government is supporting the growth of the agriculture sector to promote diversification. Forestry, agricultural and fishery activity currently accounts for one third of the economy and remains the principle livelihood of the vast majority of Papua New Guinea’s citizens. Agriculture exports dropped from...
From 2008 to 2012, the construction sector posted average real annual growth of 20.4%. The value of construction projects in 2013 was estimated at $1.4bn, up from the $1.2bn in 2012, $984m in 2011 and $744m in 2010. A host of big-ticket items are listed in the 2014 budget, including $577m to construct and maintain roads and bridges; $152m to finish facilities for the 2015 Pacific Games; $25m...
Although consumer spending has weakened recently, in the long term the country will benefit from economic growth and related foreign investment, which will in turn help support consumer demand. New firms are being developed, while existing business are improving their operations. The retail sector is developing rapidly, and shopping malls are proving increasingly popular compared to the...
Papua New Guinea’s transportation sector looks to be turning a corner as a number of substantial infrastructure upgrades are now in full swing. Under the PNG Strategic Development Plan 2010-30 the government aims to expand the national road network from 8460 km in 2014 to 25,000 km by 2030 and raise the proportion of roads in good condition from 28.7% to 100%. The government is encouraging...
While communications will always be difficult in a country where much of the population is geographically isolated and the terrain is so challenging, the relevant infrastructure in PNG is quickly developing towards international standards – and at prices that are near to international norms. For example, prior to competition entering the market, mobile phone SIM cards were sold for $54;...
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