Tourism can bring in $4.2 billion by 2027 as it is an industry that not only stimulates growth but creates the most jobs and foreign exchange earnings, according to Deputy Prime Minister and Minister for Tourism Viliame Gavoka
While speaking in support of the 2024-2025 National Budget, Gavoka says last year they broke the visitor record with 929,740 visitors, contributing $3.2 billion to the economy and they are expecting to surpass that record this year.
He says $3.2 billion is spent not only in hotels and airlines but also food and beverage, tours, supermarkets, cruise, transport, retail, art, village visits, communications and others.
The Minister says when tourism does well so do the other sectors and so does the economy and the people.
He says with the Fiji National Provident Fund announcing a record interest of 8 percent for members, the highest in two decades, was made possible by factors such as FNPF's large hotel portfolio.
Gavoka says the Ministry of Tourism and Civil Aviation has been allocated an increased budget of $68.9 million for the 2024-2025 financial year that will fund the implementation of Fiji's National Sustainable Tourism Framework which is a comprehensive policy designed to guide the tourism sector over the next decade with an overarching goal of transforming the sector to ensure a sustainable future.
The Minister says they will work on improving their standards in line with global best practices while the national airline, Fiji Airways, continues to soar to new heights, making Fiji more accessible.
He further says they are looking at new direct routes in the US as well as beyond through cold-share agreements and extending the short-life investment package tax holiday to investors who acquire existing hotels and undertake renovations and refurbishments of more than $50 million.
Gavoka adds the budget reflects their commitment to an economically stable, secure and sustainable Fiji.
