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Get to Know About Tuvalu
Tuvalu is a nation comprising of islands situated in the Pacific ocean. The economy of Tuvalu is on the road to development in recent years after the slowdown in the past.
Some of the essential sources of income for Tuvalu come from its sailors employed in ships of foreign countries and also from its natives working in nations like Australia. Tuvalu receives monetary aid from countries like New Zealand, Japan, and Australia. Tourism is a sector that has the potential for development here. The development of transport and education services can help the economy grow further.
There are many advantages of doing business in Tuvalu like the familiarity of many of its workforces with the English language. Many natives of Tuvalu are trained every year to be seafarers, and this is an advantage for foreign shipping companies with easy availability of skilled workforce. The fishing sector also has the potential to be developed here.
Challenges for investors in Tuvalu are the lack of availability of natural resources here. There is also the disadvantage of high costs of running a business. Communication facilities are poorly developed in Tuvalu, which is another drawback. There is also the need for the development of health services.