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The Pacific Tourism Organization (SPTO) is the mandated organization representing Tourism in the region. It has 21 Government Members as well as a Private Sector Membership base. SPTO’s vision for 2025-2029 strategy is vibrant and responsible tourism sector empowering a resilient Pacific Region of peace, harmony, security, social inclusion, and prosperity whilst its mission is to lead the development of responsible tourism in the Pacific region by strengthening partnerships and coordination, fostering collaboration and innovation, enhancing connectivity, and nurturing the capacity and capability of our country and private sector members. Its 21 Government members are American Samoa, Cook Islands, Federated States of Micronesia, Fiji, French Polynesia, Kiribati, Nauru, Marshall Islands, New Caledonia, Niue, Papua New Guinea, Samoa, Solomon Islands, Timor Leste, Tokelau, Tonga, Tuvalu, Vanuatu, Wallis & Futuna, Rapa Nui and the People’s Republic of China.

At the November 2024 Board of Directors and Council of Ministers meeting, the Board endorsed the new Strategic Plan 2024-2029, marking a new phase of development and growth for the organization. Please click here to access the 2025-2029 Strategic Plan. As part of this strategic direction, the Finance Strategy 2022-2024 has expired and requires renewal to align with the objectives and priorities outlined in the new Strategic Plan. Please click here to access the 2022-2024 Finance Strategy. As such, SPTO is seeking a qualified consultant to develop a 5-year Finance Strategy for the period 2025-2029 to support the organization's financial sustainability and strategic goals.

Objective:

The objective of this consultancy is to develop a comprehensive 5-year Finance Strategy for SPTO for the period 2024-2029, in alignment with the newly approved Strategic Plan. The Finance Strategy should outline clear financial objectives, strategies, and action plans to support the organization's mission and vision, ensuring financial sustainability and effective resource management.

 

Scope of Work:

At a minimum, the Consultant is required to carry out the following:

1. Conduct a thorough review of the current financial status, financial challenges and opportunities of SPTO.
2. Analyze the objectives and priorities outlined in the Strategic Plan 2025-2029 to align the new Finance Strategy with the organization's strategic goals.
3. Analyze the objectives and priorities outlined in the Partnership Framework (which is part of the Strategic Plan) and align the new Finance Strategy with the partnership framework, particularly on how SPTO can use potential development partners to assist with the long-term financial sustainability of SPTO.
4. Analyze SPTO’s NZMFAT digital project, current donor funded projects as well as the new endorsed membership structures and outline clearly how SPTO can use the above projects and structures for SPTO’s financial sustainability.
5. Develop a detailed Finance Strategy that includes financial objectives, key performance indicators, budgeting processes, revenue generation strategies, action plan, and financial reporting mechanisms. The Finance Strategy should also include a comprehensive 5-year budget forecast aligned with the new Strategic Plan (2025-2029) to support effective financial planning and decision-making.
6. Consult with CROP agencies and key stakeholders within SPTO to gather input and feedback in developing SPTO’s Finance Strategy.
7. Provide recommendations for implementation and monitoring of the Finance Strategy to ensure its effectiveness and alignment with organizational goals.

 

Consultancy Work and Reporting Arrangements

• The Consultant shall work in close collaboration with the Manager of Finance and Operations and the Chief Executive Officer of SPTO.
• The Consultant may carry out consultation work where necessary.

• The table below includes a tentative timeline and expected deliverables that are required for this assignment.

 

 

 

Project Milestones	Deliverables	Tentative Delivery Deadline
Commencement of Consultancy	Contract Signing	24th of February, 2025
Desktop Research- Undertake review of key documents such as current finance strategy, SPTO’s financial status, membership review reports, Financial Policies Strategic Plan, partnership framework, Divisional Strategies, donor funded projects etc.	Preliminary Report of key findings	7th of March, 2025
Consultation with CROP agencies,  SPTO and Board Finance Sub Committee.		7th March-  21st March, 2025
Finalisation of draft Finance Strategy Document	Draft Finance Strategy 2024-2029	9th of April, 2025
Presentation and consultation with the SPTO Board Finance Sub Committee and Board meeting for approval	Finance Strategy 2025-2029	Finance Sub Committee Meeting -17th of April. SPTO Board meeting- 15th of May.

 

Work Schedule & Budget

• An EOI containing a work schedule and itemized costing for the scope of work and deliverables must be submitted in response to this TOR no later than the 13^th of February 2025.
• Costs must be broken down into professional hourly fees and other out-of-pocket expenses inclusive of tax.
• The key milestones and indicative timelines shall be discussed and agreed upon with the successful consultant and SPTO prior to the commencement of this assignment.
• In order to be considered, the consultant should be registered on SPTO Jobslink.

Required Qualifications, Skills and Experience 

• The selected agency or consultant will have the relevant qualification and experience in tourism and financial management with experience and knowledge of CROP agencies’ financial operation, particularly on the development of finance strategies.
• Further, the consultant should be able to analyse and synthesise technical information and data and present it in a well-structured, clear and concise manner.
• Expertise in dealing with regional organisations and knowledge of PIC and non-PIC members.
• Demonstrate experience in financial management and regional membership.

Requirements

Interested consultants/firms should provide the following information:

1. Demonstrate that they are qualified for the assignment;
2. Have the technical and managerial capabilities to undertake the project; and
3. A brief outline of their core business, years in business, and qualifications of key staff.

 

Commencement date and Period of implementation

The assignment is expected to commence on the 24^th of February 2025 with an estimated completion date of 30^th May, 2025.

Evaluation Criteria

SPTO will select a preferred supplier on the basis of SPTO’s evaluation of the extent to which their submission documentation demonstrates that they offer the best value for money, and that they satisfy the criteria listed in this document and as summarized below.

1. Technical Proposal (60%)
   • Tertiary qualifications in Strategic Planning and management / finance or other relevant fields (10%)
   • Methodology (10%)
   • Technical experience in similar work or Strategic Planning , management and finance (30%)
   • Experience in working in the Pacific and with Councils of Regional Organisations in the Pacific (CROP) agencies. (10%)
2. Financial Proposal (40%)

• The Financial Proposal must include a clear general breakdown of costs for the consultancy.
• The budget should be clearly stated in Fiji Dollars and be inclusive of tax.

In order to be considered, the consultant should be registered on SPTO Jobslink

Deadline for Submissions:

• The deadline for submissions of proposals in response to this TOR is 4pm, Monday 13^th of February, 2025 (FJ Time)

Further Information

For further information, please contact Mr. Krishneel Achari at [email protected]