Property prices have fallen with residential losing 20/30% as a reflection of the AU & NZ markets however, commercial property has not seen the same decline mainly as a result in Chinese investment.The country’s banking sector was protected from the crisis, having little ties with other international financial systems.
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Vanuatu does not rely on remittances as much as some of its Pacific island neighbours, which also gave it more cushioning from external conditions.
Vanuatu is ranked 6th in Lonely Planet’s top 10 travel destinations for 2011 and has received the title as the happiest place on earth on two separate occasions.
There are 6 international carriers using these facilities.
Vanuatu was generally unaffected by the global crisis.
Due to declining external demand, exports contracted in 2009 and GDP growth slowed, to 3.5%.