Paribas sets up shop
p. 41 · Read in the full issue
in French Polynesia
The big French bank Banque de Paris et des Pays-Bas (Pari bas) has opened an office in French Polynesia on the site of the old and historic Hotel Stuart in Papeete and is considering investing in a major hotel project in the territory.
In the course of a recent visit to Tahiti, Paribas representative Mr Jacob told the local daily Les Nouuelles: “Despite all the things that have been done and are being done in this field, we believe there is scope for further investment in tourism in French Polynesia . . . Just think: New Caledonia is drawing about 80,000 tourists a year, and Tahiti, with its extraordinary world renown, is attracting only about 20,000 or 30,000 more.
The annual number of tourists coming here could easily be doubled, even though Tahiti is not adapted to the new forms of tourism.”
Asked to explain, Mr Jacob said: “Today’s tourists are less
and less interested in visiting points of interest at their de stination. Spending whole days in a bus to visit museums, scenic spots, monuments and so on doesn’t interest the tourist any more or at least very much less so than in the past.
“Today’s tourists are looking more and more for relaxation, for leisure activities. Club Med understood this long before anyone else. But they are not aiming at the top end of the market.
“Our new Tiare project (in New Caledonia) will aim to cater for these new needs at the top end.”
Mr Jacob declined to say directly that Paribas or its proposed development subsidi ary in the territory, Polydev would definitely go ahead with such a project in French Polynesia, saying that negotia tions with local authorities were still proceeding. But he said the idea was “quite conceivable”.
Above: The $US3.5 million American fishing vessel, Jeanette Diana, pictured in Honiara in July, following her seizure on June 26 on charges of illegal fishing in Solomon Islands’ waters. Below: P-150, the Australian patrol boat on charter from its Western Australian owners to the S.l. Government, which carried out the seizure. The Solomon Islands Supreme Court on July 29 fined Jeanette Diana's captain and owners a total of $72,000 on two charges of illegal fishing, and ordered the forfeiture of the vessel, its fish catch, and a helicopter to the S.I. Government. - Photos by Edward Booth.