Visitor arrivals in Fiji have increased by 7 percent over the last eight months, according to Deputy Prime Minister and Minister of Finance Biman Prasad, who made the announcement in Parliament. This growth surpasses initial predictions, with the ministry estimating a total rise of about 3 percent by the year’s end.
During his ministerial address, Prasad highlighted positive trends in the economy, noting that key indicators for aggregate demand are on the rise. He mentioned a 20 percent increase in government spending over the past seven months, alongside a rise in private sector lending and VAT collections adjusted for rate changes, reflecting increases in domestic spending.
Other encouraging signs include a boost in imports of investment goods, higher electricity consumption, increased vehicle sales, and improved income levels. Prasad also pointed out that PAYE collections and remittances have shown significant upticks.
The tourism sector, in particular, is performing better than anticipated and even surpassing record levels from the previous year. Looking ahead, Prasad predicted that total visitor arrivals for 2024 could reach or exceed one million, which would set another record for Fiji’s tourism industry. He also acknowledged improvements across all major economic sectors and the resulting rise in investments, crediting the leadership of Deputy Prime Minister Kamikamica for the reforms that have helped build investor confidence in the economy.