Decline in NZ’s economy could result in slight decline in Fiji’s tourism, export and remittances – RBF

Decline in NZ’s economy could result in slight decline in Fiji’s tourism, export and remittances – RBF

By Rashika Kumar
Tuesday 20/06/2023
[Photo: ANZ]

Deputy Governor of the Reserve Bank of Fiji, Esala Masitabua says a decline in New Zealand’s economy could result in slight decline in Fiji’s tourism, export and remittances.

While speaking during the Multi-Stakeholder Dialogue on the Fijian Economy organised by Dialogue Fiji, Masitabua says New Zealand is deliberately slowing down the economy to address inflation.

He says there may be challenges and there will be raising of policy rates or mortgages will cost more so there will be less discretionary income which means less people will be able to go on holidays or buy things.

Masitabua says New Zealand is a big partner of Fiji with a lot of our diaspora there.

Meanwhile, Fiji Revenue and Customs Service CEO Mark Dixon says we should applaud Fiji Airway’s approach because over the last 18 months the dominant tourism market has been Australia and New Zealand so Fiji Airway’s efforts into North America and reopening routes into Asia will offer some compensation if we see a slight drop in tourism from New Zealand or Australia.

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