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Invest in Vanuatu

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Invest in Vanuatu INVEST IN VANUATU Investing In Vanuatu’s Tourism Sector Vanuatu – More than Just A Tropical Paradise Vanuatu is a Y-shaped archipelago of approximately 83 islands covering 12,250 square kilometers and located 1,700 kilometers east of Australia. Voted “the happiest place on earth” in 2006, the country is full of unique surprises ripe for exploration – dozens of islands of volcanic origin, including one of the world’s most accessible active volcanoes, beautiful sandy beaches, an abundance of indigenous cultures, untouched rainforests and lagoons, and consistently warm and sunny weather. With a population of approximately 253,000, Vanuatu boasts 113 distinct languages and countless dialects, making it one of the most culturally diverse countries on earth. Combined with zero income tax, no foreign exchange control, and an independent judiciary, Vanuatu fuses these elements to form an ideal location for both tourism and investment, right in the heart of the South Pacific. Widespread Government Support for Tourism Development Tourism is widely viewed as the country’s most important growth sector, making up more than 50% of the country’s GDP. Ongoing review of land laws, zoning of physical planning areas, and the establishment of tourism and hospitality trainings schools are just some of the improvements being under- taken in support of the sector. The Vanuatu Investment Promotion Authority (VIPA) and the Vanuatu Department of Tourism (DoT) are currently offering sponsors a range of high-quality sites, which fit into the country’s long-term development strategy. Each site has been thoroughly scoped, having obtained government approval and clearances from land owners. High Demand for Internationally Branded, Upmarket Accommodations The main type of accommodation demanded by visitors to Vanuatu is upmarket, internationally branded hotels, with the highest occupancy rates currently being achieved by the luxury and upmarket accommodations at 67.8% and 58.8%, respectively. Total arrivals by air have also been increasing steadily over the past decade with average length of stay reaching 10 days. Raymond Vuti Manager Promotion Chris Bleakley Moses Tiro Bani Vanuatu Investment & Promotion Authority Senior Investment Policy Officer - IFC Pacific Principal Tourism Investment Officer PMB 9011, Port Vila, Vanuatu Level 18, 14 Martin Place, Sydney NSW 2000 Australia Department of Tourism PMB 9099, Port Vila, Vanuatu T: +678 711 1310 E: [email protected] T: +61 2 9235 6513 E: [email protected] T: +678 776 4530 E: [email protected] Investing In Vanuatu’s Tourism Sector INVEST IN VANUATU Investing In Vanuatu’s Tourism Sector The Archipelago of Vanuatu Supportive Business Environment and a Top Performer in Doing Business Rankings Torres Islands Vanuatu offers a stable political environment and demonstrable commitment from a government dedicated to the growth of the tourism industry. Along with Ureparapara its unique tax haven status, investors can rest assured as both the government Banks Islands Mota Lava and central bank have proven track records of sound fiscal and monetary Vanuatu Lava Mota policy. This sincere commitment by authorities to promote Vanuatu as a safe business destination has seen the country rank first among other Pacific Island Santa Maria nations in IFC’s Doing Business Report in 2011. Notably, Vanuatu is the only Pacific Island country eligible for funding under the Millennium Challenge Account, a U.S.-government initiative encouraging good governance. Maewo Espiritu Santo Luganville Ambae Continuous Government Improvements in Tourism Aore Infrastructure and Distribution Systems Bokissa Pentecost Vanuatu has some of the best facilities offered in the Pacific. Infrastructure is Malakula Ambrym solid and being continually improved. A major project to seal the Efate ring Paama road and the road circling the east coast of Espiritu Santo was completed last Epi year. Infrastructure improvements are also currently underway in Tanna. Power and water are supplied by UNELCO in Port Vila (Efate) and Luganville (Espiritu Emae Santo). Power in Port Vila is being supplied by diesel generators and wind power, while Luganville has diesel generation and a small hydro scheme. Efate PORT VILA Easy Access to International Points of Entry Two international airports and six international airlines serve visitors. Vanuatu Erromango is a short three-hour flight from Australia or New Zealand, making it is easily accessible to Vanuatu’s main sources of tourists. Regular flights arrive daily Aniwa from major hubs including Sydney, Brisbane, and Auckland, as well as from Tanna other Pacific countries. Futuna Official Languages Anatom The official languages of Vanuatu are English, French, and Bislama (pidgin English). Vanuatu Investment Promotion Agency Whilst all care was taken in preparing the site profiles, investors are responsible for undertaking their own due diligence on any specific projects. Photos courtesy of Vanuatu Tourism Office..
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