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Get to Know About Cocos Islands
Cocos Islands is a small archipelago in the Indian Ocean. It is an Australian External Territory. As a whole, the archipelago consists of 27 coral islands which cover an area of 14 square kilometers. It is home to about 544 people. Cocos islands is located in South East Asia (Southern Hemisphere), and for an easier reference, it is the midway between Australia and Sri Lanka.
Cocos Islands is also known as the Keeling Islands. The place has its own constitutional Act- the Cocos (Keeling) Islands Act 1955; however, the governance is based on the Australian Law. Doing business Cocos Islands comes with a range of challenges. Anyway, for those who want to indulge, it is not as bad as you think.
The main obstacle to many is that not a lot of people reside in the islands. Thus, you will need to target a particular niche, and the market for basic supplies such as supermarket is already concentrated. Additionally, due to the lack of resources, the Islands need to import a lot. Well, this also means that you might have some chance in the import market.
Nevertheless, the Cocos Islands has a lot of potential in the tourism sector, especially water-based activities. Cafes and hotels can also be a good idea. Additionally, being an Australian territory, you get every incentive and the advancements the country provides you, so you have a robust economic system backing you up.