Published on : Friday, February 24, 2017
This bank said that the strong economic growth had led to the urgent requirement if excellent infrastructure and certain environmental challenges that have been threatening the long-term sustainability of the economy of Palau.
ADB has also said that it would warn the rapid growth of low-end tourism and it might damage the famous natural environment and also the World Heritage sites.
Liliana Warid who is associated with the bank has mentioned that the official figures portray that the GDP has witnessed a growth of nearly 5.3% in the year 2014 and 8.2% in 2015. But then, it does not cover the risks that had led to an increase in tourist numbers, especially to the popular sites.
She said that in order to sustain economic growth and also make the most of the success of earlier business environment reforms, Palau should make attempts to minimize the overall tourist figures but at the same time make sure that the individual tourist spending is raised.
Palau is actually aiming at a comprehensive national tourism policy and also the creation of infrastructure in order to encourage high-end tourism.