Economy
Cook Islands economy strongest in South Pacific
Monday 16 April 2018 | Published in Economy
A recent report released by the Asian Development Bank has indicated that the Cook Islands economy continues to be the strongest performing in the South Pacific.
Cook Islands can compete internationally
Tuesday 10 April 2018 | Published in Economy
Pacific Trade Invest Australia (PTI) says the Cook Islands has the capability to compete in the international marketplace.
Airbnb market grows massively
Friday 6 April 2018 | Written by Rashneel Kumar | Published in Economy
The Airbnb (AirBed and Breakfast) market in the Cook Islands recorded a growth of 134 per cent last year.
Fast-track work permit programme extended
Wednesday 4 April 2018 | Published in Economy
A pilot programme fast-tracking work permits for New Zealand passport holders willing to work in the Cook Islands on a short-term basis has been extended for another year, and will also be opened up to Australian passport holders.
Orr takes reins at NZ Reserve Bank
Tuesday 27 March 2018 | Published in Economy
Adrian Orr yesterday stepped into the top job at the Reserve Bank of New Zealand (RBNZ) as its new governor.
Visitor arrivals recover in February
Saturday 24 March 2018 | Written by Jaimie Keay | Published in Economy
The tourism industry made a quick recovery in visitor arrival figures last month after posting a decline in January this year.
Chamber welcomes Maori business opportunities
Saturday 24 March 2018 | Written by Rashneel Kumar | Published in Economy
The Chamber of Commerce welcomes the opportunity for New Zealand’s Federation of Maori Authorities (FOMA) and Cook Islands representatives to discuss furthering business opportunities.
Weaker US dollar means cheaper LPG
Wednesday 21 March 2018 | Published in Economy
The Price Tribunal has issued a new price order for Rarotonga and all islands reflecting new prices for petrol, diesel and LPG.
Local businesses at Pasifika
Wednesday 21 March 2018 | Written by Rashneel Kumar | Published in Economy
Two local companies will attend the 26th Pasifika Festival to be held this weekend at Western Springs Park, Auckland in New Zealand.
Cruise visitors enjoy their day
Thursday 15 March 2018 | Written by Rashneel Kumar | Published in Economy
Light showers on Tuesday failed to dampen the spirit of cruise ship tourists, who enjoyed their day out in Rarotonga.
Tourism office nominated for prestigious prize
Thursday 15 March 2018 | Written by Rashneel Kumar | Published in Economy
Cook Islands Tourism Corporation Australia has been nominated for the Best Tourist Office – International at the Australian Federation of Travel Agents (AFTA) National Travel Industry Awards 2018.
Pacific Resort group expands
Monday 12 March 2018 | Published in Economy
Pacific Resort Hotel Group (PRHG) is continuing to expand with the addition of Royale Takitumu to its portfolio of properties. The group offers a range of management services via its franchise partner hotel programme. As a partner hotel, Royale Takitumu now benefits from PRHG’s substantial support network, global marketing, international sales team and sales field support, along with guidance and support in hotel operations to deliver high levels of guest satisfaction and experience. Established in 1998, and now under new ownership, Royale Takitumu continues a long tradition of offering premium, secluded accommodation for the discerning traveller. The deluxe boutique beachfront property is located on Titikaveka beach, one of the top 15 beaches in the South Pacific according to Trip Advisor. Royale Takitumu’s new owners are John and Rose Dunn. John is a Cook Islander based in New Zealand. A successful surgeon and private hospital owner/operator Dunn also works at Rarotonga hospital, having introduced equipment and training there. His wife Rose is a designer whose houses are award-winning, and she is a major patron of Pacific art through Tautai in Auckland. Both are passionate about the Cook Islands and look forward to working with PRHG to bring their aesthetic and vision to Royale Takitumu. Group chief executive Marcus Niszow says he is excited with the addition to the PRHG family. “Royale Takitumu is a great complement to our existing beachfront resort portfolio in the Cook Islands. The cultural fabric of Royale Takitumu is closely aligned with PRHG’s brand ethos and together we aim to reach new heights in terms of overall product quality and guest experience”. PRHG owns three award-winning properties in the Cook Islands, and provides management services to five others. The PRHG franchise partner programme allows Royale Takitumu to retain day-to-day operational management while benefiting from the expertise and marketing resources of the Cook Island’s largest revenue hotel group. - Release
January shows downturn in visitor arrivals
Monday 12 March 2018 | Written by Rashneel Kumar | Published in Economy
After welcoming a record number of visitors to the Cook Islands last year, the tourism industry noted a decline in the visitor arrivals for the opening month of the year.
Super Fund worth close to $145m
Monday 5 March 2018 | Written by Rashneel Kumar | Published in Economy
The members’ stake in the Cook Islands National Superannuation Fund is worth close to $145 million, according to the latest Fund performance as at January 31, 2018.
It's time to sort out your taxes
Monday 5 March 2018 | Published in Economy
In the wake of the government’s recently passed Income Tax Amendment and VAT Amendment Bill, the job of the team at the Cook Islands Tax Amnesty Office is about to change.
PAYE write-off due to error
Thursday 1 March 2018 | Published in Economy
Financial secretary Garth Henderson says government agencies have always paid their Pay As You Earn (PAYE) tax, adding the PAYE debt that was written off as part of ‘tax forgiveness’ is a result of a reconciliation error.
When can foreigners buy property?
Thursday 22 February 2018 | Published in Economy
Land allocated to locals can be passed onto foreigners if they are unable to afford it, Minister of BTIB Kiriau Turepu said during Tuesday’s question time session at Parliament.
North American market soars above all others
Monday 19 February 2018 | Written by Rashneel Kumar | Published in Economy
Tourists from the North American market are the biggest spenders in the Cook Islands.
Boost from extra visitors worth $32m
Saturday 3 February 2018 | Written by Rashneel Kumar | Published in Economy
The Cook Islands economy gained from around $32 million in extra spending generated by the 10 per cent increase in visitors last year compared to 2016.
Tax amnesty writes off $4.5 million
Thursday 25 January 2018 | Published in Economy
With more than two months left to go on the government’s recently-extended tax amnesty, the Revenue Management Division so far processed $8 million worth of tax debt from 520 applications.
