Over View Of Niue Real Estate
Niue is a small island nation that is located in the South Pacific Ocean very close to New Zealand. It is also known by its other name which is Rock of Polynesia. The head of state is Queen Elizabeth II and is in an association with New Zealand. It ahs about 1400 people as inhabitants and has an extremely small economy of about NZ$ 17 million in 2003.
The government was the major employer in this island nation. The need right now is being felt for the private sector to pitch in also. After Cyclone Heta hit the country, the government ahs felt a need for the development of the private sector also. The government ahs also spent US$ 1million towards rehabilitating people and much of it has been utilized for the construction of the Fonuakula industrial park and for other private sector businesses.
The main stay of financial income for the country has been aid that it has received from New Zealand. In the 1970’s and 1980’s remittances from Niuean expats were the major source of income for the country, but now most people have emigrated to new Zealand and this has led to a decrease in the remittances. Revenue for the government is essentially generated from income taxes, import taxes and leasing of the phone lines.
Agriculture and tourism are the profitable ventures and contribute largely to the GDP of the country. Agriculture, fisheries and tourism are now the priority areas for the Niuean economy. Currently the expansion of vanilla plantation is on a high agenda with the government as well. The government is going about the plantation by making each household plant vanilla in about ½ to 1 acre of land.
Agriculture is an extremely important part of the Niue citizens and most do subsistence faming. Taro is the staple food of the residents and the pink Taro which is known in the Australian and New Zealand markets is the intellectual property of the country as well. The main cash crops are taro and vanilla that are also been exported.
As of now Niue rentals is also trying to attract foreign investors and tourists and is also offering an environment conducive for the growth of real estate in Niue. The government is also offering import and company tax concessions for those that wish to set up business. This is also the first country that is totally WiFi and internet access is provided to all the citizens and residents here.
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