August has set a new record for tourist arrivals, further increasing this year’s numbers compared to the same period last year. In its recent economic review, the Reserve Bank of Fiji highlighted that the tourism sector is expected to gain from the unexpectedly high influx of visitors.
In August, a total of 94,787 tourists visited, marking the highest number recorded for that month, which brings the total for 2024 to 640,274—an increase of 6.9 percent compared to the previous year. This surge was particularly driven by increased arrivals from major markets such as Australia, New Zealand, and the USA.
The central bank noted that recent data is showing an improving economic outlook for Fiji, bolstered by tourism, consumer spending, sector production, and investment activities through August. The economy is on track for another growth year after expanding by 7.5 percent in 2023.
The performance of various sectors was largely positive, with notable improvements in gold and timber production. Gold output rose by 30.3 percent during the year up to August, while the resumption of pine supplies from Kadavu contributed to a 14.5 percent increase in sawn timber production and a 5.7 percent rise in woodchips.
Inflation has decreased to 5.4 percent in August from 6.8 percent in July, and foreign reserves stood at $3.7 billion at the end of September, enough to cover 6.1 months of retained imports of goods and services. The reserves are expected to remain adequate over the medium term, according to the Reserve Bank of Fiji.