Vanuatu

Vanuatu is a nation of 83 islands located in the South Pacific and is a lower middle-income country with a GDP of 906 million USD in 2018. The economy of Vanuatu supports an agricultural sector that accounts for 27.3% of GDP but employs two thirds of the workforce, which is generally concentrated in small-scale farms. The main agricultural and fisheries products produced by Vanuatu includes copra, cocoa, beef, and fish. As the Government of Vanuatu has mandated that all agricultural related projects address the issue of climate change in some form, numerous opportunities exist to aid in the sustainable development of the agricultural sector through smart and innovative solutions. Vanuatu also has an industrial sector that comprises 11.8% of GDP and includes construction as well as a light manufacturing industry that engages in wood processing, meat canning, and chocolate production.

The largest component of the Vanuatuan economy is the service sector, which accounts for 60.8% of GDP. Within the Vanuatuan service sector, tourism is the dominate industry, which saw 116,000 visitor arrivals in 2018 and is responsible for roughly 40% of the countries GDP. Recognizing the importance of the tourism industry to the long-term economic growth of Vanuatu, the government is in the process of implementing a nationwide marine spatial plan (MSP). Accordingly, collaborating in the ongoing development of Vanuatu’s tourism industry and the formation of a national MSP presents a variety of opportunities to help build a sustainable blue economy based on the principles of good maritime governance.

Vanuatu also has a small but growing startup community that is supported by a new government funded incubator program. Currently, several startups in Vanuatu are engaged in the charter boat industry, which services the needs of the local tourism and transportation industries as well as supports marine scientific research and climate change adaptation and mitigation efforts. As Vanuatu is becoming increasingly vulnerable to the impacts of climate change—particularly from an increased frequency of inclement weather events—collaborating with local startups on climate change mitigation and adaptation strategies can help facilitate long-term sustainable economic growth.