Approximately $1-$2 billion is anticipated to circulate in the economy within the next six to twelve months. Deputy Prime Minister and Acting Minister for Tourism, Manoa Kamikamica, made this announcement during the branding launch of the Kimaya Fiji Group and the reopening of Yatule Resort and Spa at Natadola Beach, Nadroga.
Mr. Kamikamica highlighted the significant impact of the tourism sector on the nation’s economy, indicating that it accounts for nearly 40 percent of the GDP and is on an upward trajectory. He noted that tourism also plays a crucial role in supporting other sectors, including agriculture.
He stated that the tourism industry is at a pivotal moment, poised for substantial growth in the near future.
In terms of investment, Fiji’s domestic and foreign investment opportunities are estimated at around $6 billion. Mr. Kamikamica emphasized the government’s commitment to fostering a business-friendly environment to attract more investments. This includes streamlining processes and eliminating bottlenecks.
Acknowledging Kimaya Fiji Group, the parent company of Yatule Resort and Spa, he commended their contributions to Fijian tourism. Kimaya Group’s managing director, Damen Gounder, reported that the resort underwent six months of renovations with an investment of $7 million. He expressed the company’s ambition for growth and evolution in their brand and vision.
Viliame Vodonaivalu, the chief executive officer of Fiji National Provident Fund, remarked on the successful partnership developed with the company over the past nine years since 2015.