Country Report Feb 2024

Although Tonga is ‘moderately free’ for Economic Freedom, it is relatively stable politically and had solid state finances. The economy is overly reliant on remittances and tourism, which could lead it to underperform compared to its peers, whilst it is highly exposed to natural disasters. Although the population is growing, the market size is small and hampered by remoteness; however, Tonga is a young country. Internet and mobile use is growing, and external funding is enabling new technologies