Improving overseas economics could help remittances, tourism
NUKUALOFA, Tonga (Matangi Tonga, July 1, 2013) – Although Tonga’s economy continues to be weak, there are some positive indicators, according to a market update on July 1, by the Deputy Governor of Tonga’s National Reserve Bank, Jessie Cocker, who met with senior regional officers of ANZ Bank on June 28.
Despite Tonga’s poor economic performance, there was still optimism about the progress made.
Jessie expected that the improving American economy could revive the remittances and visitor arrivals, which fell steeply last year.
"More recently, on the back of the better growth and unemployment outcomes in some of the key source countries, remittances have been increasing.
"We expect tourism to grow further over the short term, on the back of improving growth and unemployment outcomes overseas, particularly in New Zealand and the U.S.," she said.
Other positive reviews were revivals...