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Economic Recovery Roadmap

The Cook Islands experienced one of the largest economic contractions in the world as a result of the COVID-19 pandemic. The Economic Recovery Roadmap (ERR) was established as the Government’s central framework to guide economic recovery and support a safe, sustainable return to growth.

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A core objective of the ERR was to restore the Cook Islands economy to its pre-COVID level of around $550 million in GDP, while remaining within fiscal responsibility rules. This target has now been achieved, with real GDP reaching $564 million in the 2024/25 financial year.

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The ERR brings together a set of priority workstreams designed to support recovery, rebuild resilience, and strengthen the foundations for long-term economic development. All ERR actions align with, and support the delivery of the Cook Islands Economic Development Strategy (EDS) 2030, released in January 2021. More info on the EDS here: link to EDS webpage.

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​Of the 18 actions under the ERR, ten have now been completed, 2 remain in-progress, and 6 have been removed as a result of changes in the economic landscape.

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​For any queries regarding the Economic Recovery Roadmap, contact the MFEM Economic Planning Division on 29511 or email mfem.economics@cookislands.gov.ck.

Key Documents

The Economic Recovery Roadmap (ERR) is the government’s main vehicle to drive the Cook Islands’ economic recovery over the next few years. The objective of the ERR is to grow the Cook Islands’ GDP to pre-COVID levels (around $550 million) and towards the path we would have been on pre-COVID by 2025, while keeping within our fiscal responsibility rules. The ERR uses the Cook Islands Economic Development Strategy 2030 (EDS) as a foundation.

 

ERR total 2022/23 spend was $1.37 million. The focus of the ERR in 2022/23 shifted to support for economic stimulus and reform measures, as well as finalising several longer-term programmes that were carried forward from the ERP, including the Business Continuity Credit Facility (BCCF).

 

Highlights from 2022/23 include:

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  • $33,290 of Isolation Support Payments in 2022/23 for people unable to work due to Isolation or Quarantine Orders.

  • $192,783 in fees paid for the Fees Free Extension.

  • Started tracking patterns of permanent Cook Island departures using departure cards.

  • Ministry of Foreign Affairs and Immigration approved 985 work permit applications (YT March 2023) and have updated the Immigration Act and Regulations.

  • E-commerce strategy and gap analysis is now ready for publication.

 

This report provides an assessment against the ERR outcome and output indicators. The report includes the latest data available as a June 2023, with most economic indicators sourced from the 2022/23 Budget Estimates. Some indicators are included in reporting under the EDS and the NSDA, and will be included in reporting for these programmes.

 

 

Previous Reports:

 

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