August marked another record for tourist arrivals in Fiji, surpassing last year’s figures for the same period. According to the Reserve Bank of Fiji’s economic review released last week, the tourism sector is poised to benefit from an unexpected surge in visitor numbers.
In August, a total of 94,787 tourists visited, setting a record for the month and bringing this year’s total arrivals to 640,274, a 6.9 percent increase compared to the same period last year. Key source markets like Australia (up 1.8 percentage points), New Zealand (up 1.4 points), and the USA (up 1.3 points) significantly contributed to this positive trend, supported by incoming visitors from China (up 0.9 points) and other Pacific Islands (up 0.7 points).
The central bank noted improved prospects for the Fijian economy, driven by tourism, increased consumption, sectoral production, and investment activities in the year up to August. It highlighted the economy’s potential for continued growth following a 7.5 percent expansion in 2023.
Positive outcomes were also reported across various sectors, as gold and timber production saw substantial improvements. Notably, gold production rose by 30.3 percent, while the resumption of pine supply from Kadavu contributed to a 14.5 percent increase in sawn timber and a 5.7 percent increase in woodchips.
Furthermore, headline inflation decreased to 5.4 percent in August, down from 6.8 percent in July. Foreign reserves stood at $3.7 billion at the end of September, covering 6.1 months of retained imports for goods and services, with projections indicating stability in the medium term according to the Reserve Bank of Fiji.