Economic Challenges and Innovations in Palau

Exploring the impact of living in a remote Pacific island, this chapter discusses the economic struggles faced by Palau due to high import reliance and price inflation. It delves into the effects of Covid and the war in Ukraine on the cost of living, the implementation of a consumption tax, and the decline in tourism. The narrative also highlights innovative approaches like using social media for sales and emphasizes the need for economic diversity and entrepreneurship beyond the tourism sector.