, inflation, labor market and employment statistics. II. Economic Context A. Recent Developments 4. The Cook Islands economy is highly dependent on tourism . Main source countries include New Zealand and Australia, but arrivals have diversified recently to Europe and North America. The Cook Islands has also sought to diversify its sources of economic activity through the establishment of an international financial services industry (especially for international trusts), and also receives revenue from fishing licenses. Strong recent contributors to economic
Executive Summary The Pacific Financial Technical Assistance Centre was approached to estimate how international companies, and the wider international financial services industry, contribute to the Cook Islands’ economy and revenue collection. This report discusses the data and methodology used and presents the results. One matter that has been raised is that international companies are exempt from all taxes in the Cook Islands. The economic contribution of the international financial services industry can be measured by the value added of resident