Approximately $1 to $2 billion is projected to be injected into 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 Kimaya Fiji Group and the reopening of Yatule Resort and Spa on Natadola Beach, Nadroga, yesterday.
Mr. Kamikamica highlighted the significant impact of the tourism industry, indicating that it contributes nearly 40 percent to the country’s GDP and continues to grow. He stated that tourism’s ripple effect touches various sectors, including agriculture.
The Deputy Prime Minister expressed optimism that the tourism sector is poised for significant growth, describing it as being at a critical tipping point.
In terms of investment, recent reports indicate that Fiji has approximately $6 billion in domestic and foreign investment opportunities. Mr. Kamikamica emphasized the government’s commitment to fostering an investment-friendly environment, aiming to streamline processes, reduce obstacles, and create favorable conditions to attract more investments into Fiji.
During the reopening of Yatule Resort and Spa, he acknowledged the efforts of the Kimaya Fiji Group, the resort’s parent company, in enhancing the Fijian tourism sector. Kimaya Group managing director Damen Gounder shared that the resort underwent six months of renovations, totaling an investment of $7 million. He remarked on the company’s ambition and the necessity for continual evolution as they expand.
Fiji National Provident Fund chief executive officer Viliame Vodonaivalu noted that this development marks the beginning of a successful partnership with the Kimaya Group, a collaboration that has been ongoing since 2015.