Good news as tourist arrivals into Fiji have rebounded in the year to August, registering a 0.4 percent annual increase to 642,810 visitors following consecutive cumulative declines since February.
The Reserve Bank of Fiji says the positive outcome was driven mainly by higher arrivals from the US (11.2%), Pacific Island Countries (6.6%), the United Kingdom (13.0%) and Europe (8.0%).
The turnaround was further supported by a recovery in key source markets, Australia and New Zealand, in August when compared to the corresponding period last year.
The RBF says domestically, the Fiji Bureau of Statistics recently released updated Gross Domestic Product growth rates for Fiji using the new 2019 base.
The provisional numbers show that the Fijian economy grew by 3.5 percent in 2024 following a revised growth of 9.4 percent in 2023.
Growth in 2024 was mainly driven by activities in the services as well as agriculture and manufacturing sectors.
The RBF says while the economy is on track to achieve a 3.2 percent growth this year, sectoral performances remain mixed due to industry specific issues.
Looking at other industries upto September this year - cane (-4.3%) and sugar (-13.4%) production declined as of 22nd September due to constrained supply and poor cane quality.
Mineral water production also fell cumulative to August (-5.4%) mostly attributed to lower demand from key markets and maintenance work undertaken at a major production facility.
During the same period, gold ore production declined further (-24.8%), underpinned by reduced output from the Vatukoula Gold Mines Limited, which shifted its operational focus toward the exports of gold concentrates.
The decline from Vatukoula Gold Mine more than offset Tuvatu’s upbeat production in the review period.
On the other hand, timber production continues to register growth across all categories, with notable increases in woodchips, sawn timber, and mahogany in the year to August.
Labour market conditions continue to ease, as evidenced by a softening in hiring activity.
Demand for foreign labour has also declined during the same period, reflected in the reduced number of approved work permits (-83.3%) largely from the Asia-Pacific region.
Resident departures for employment, education and training, and emigration categories also contracted cumulative to August.
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