The reduction of the allowed stay for yachts in Fiji waters will significantly impact the yachting sector, according to Vuda Marina general manager Adam Wade. Under the 2024-2025 National Budget, this period has been cut down from 54 months to 24 months.
Mr. Wade highlighted this change during the recent Nadi Chamber of Commerce and Industry post-budget consultations, revealing that prior to COVID-19, the yachting sector contributed around $60 million to the economy, a figure which has since risen to over $100 million.
“This sector is crucial, as yachts staying in Fiji mean continued spending,” Mr. Wade noted. “Yacht owners and their visitors contribute to the local economy through expenditures on food, shopping, and accommodations.”
Vuda Marina has also expanded its workforce to 110 employees, marking an 80 percent increase in recent years. Mr. Wade emphasized that this reduction in stay duration impacts all locally owned marinas across Fiji, with 99.99 percent of incoming yachts bringing tourists and directly adding foreign reserves to the country.