Market Research in French Polynesia
French Polynesia is a collectivity of France in the south-central Pacific Ocean. This country has five archipelagos and more than 118 islands, and it covers an area five times the size of France. The famous Tahiti and Bora Bora tourist sites are part of this country.
Most French Polynesians live on the island of Tahiti. It is the biggest of the islands. More than 70% of their people live there. The city of Papeete is the capital. It is by far the most developed and urban. Most people enjoy a better quality of life in Tahiti than on the other islands. Because of this, there is much migration to Tahiti.
Most of the other islands are rural and agricultural. The citizens settle close to the sea. Many of the residents on the more rural islands live in detached houses. These are the most common type of building on the more rural islands. These islands also have churches, shops, schools, and government buildings.
French Polynesia is a well-known tourist destination. It has a balmy tropical climate, making it a popular tourist site. The overwater bungalows first built here are globally well known. Many services come about due to the large tourism sector. These include hotels, aviation, and tours.
Other industries include fishing and agriculture. Fishing does well due to the vast ocean space within the area. Though farming has declined, many crops are still grown for local use. Manufacturing is another sector that does well. Further export products include pearls, oils, copra, and beer.
About one-third of Tahiti’s power is hydroelectric.
Most of French Polynesia’s imports come from France. But, they export most of their goods to the Netherlands, France, and Hong Kong. Further still, they also trade with China, New Zealand, South Korea, and the USA.
The tourism sector is growing. After a long period of economic growth, Covid-19 harmed the islands a lot. They had relied on international tourism, and the pandemic took that away. The economy is now recovering as tourism continues its slow climb back to normalcy.
Benefits and Strengths of the Market
The top exports are pearls, fish, vanilla, coconut oil, and plane parts. The chief imports include refined petroleum, vehicles, and medication. Their fastest-growing export markets are the Netherlands, Australia, and Poland. Meanwhile, their fastest-growing import markets are the USA, the Philippines, and China.
The market is robust in tourism, construction, and food and beverages. Still, there is a need for more diversity. The islands have an established manufacturing sector, but it has room for growth. They need investors in these sectors to assist development. Furthermore, French and EU businesses can get extra benefits for participating in the economy.
The islands have a very high unemployment rate. Of those employed, about two-thirds work within the service sector. The other one-third works in industry and agriculture. So, most of their 286,000 citizens live in urban areas in Tahiti. The elite enjoys a high quality of life, but many people live in poverty.
Reasons to Grow Your Business in the Market
Tapping into one of the booming markets can reap great rewards for you. Moreover, the region has access to many big markets with which they enjoy good relations. Many of their markets need investors. New investments will create a boost in the economy along with growth.
If your business is in the EU or France, this is even better because there are even more benefits that you can enjoy.
About Market Research in French Polynesia
Research is critical when stepping into a new market. It’s the best way to make good profits. The more you know, the better your business choices. The main research types used are Quantitative, Qualitative, and Strategy Research. Firms can use Interviews, Surveys, and Focus Groups to achieve this.