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Business Profile
Economy: There is a small amount of agriculture, producing coconuts and honey – some of which is exported – as well as yams, cassava and sweet potatoes for domestic consumption. But the weather is inclement (cyclones are a major problem) and two thirds of the land surface is unsuitable for cultivation. Some livestock is reared, again for local consumption. Tourism is worth about US$1 million annually and brings in foreign exchange; postage stamps are another valuable source of revenue. However, there is still a budgetary shortfall, which is made up for by aid from New Zealand and, more recently, Australia. In common with other small and remote Pacific island states, Niue has opted for the development of an ‘offshore’ financial services industry to boost the economy. The necessary legislation was passed by the Assembly in 1994, although little progress has been made, not least due to the intense competition from other Pacific island economies who have adopted the same strategy. Niue continues to suffer a drain on its resources as its younger, educated population leaves for New Zealand in search of work.
Business: Shaking hands is the usual form of greeting and leaving. Lightweight or tropical suits are recommended for business. Official invitations will always state the dress code required: ‘formal’ means a jacket and tie for men and ‘fiafia’ means casual dress is acceptable. Office hours: Mon-Fri 0730-1530.
Conferences/Conventions: Matavai Resort conference rooms can seat 50-60 people or 120 theatre-style. For further details, contact the Niue Tourism Office (see Contact Addresses section) or Matavai Resort, PO Box 133, Alofi, Niue (tel: 4360; fax: 4361; e-mail: matavai@niue.nu).
Copyright © 2003 Columbus Publishing Ltd.
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