Vacationer numbers to reach into Fiji in 2023 is projected at 760,231, states the Ministry of Financial system in its Medium Time period Fiscal Technique 2024-2026 that was tabled in Parliament final week. This might be 85 per cent of pre-pandemic ranges.
“Provided that tourism accounts for roughly 40 per cent of GDP, a fast tourism restoration is essential for our wider restoration prospects,” states the MOE. “Higher-than-expected rebound in customer arrivals in 2022 means that final 12 months’s progress estimate is barely upward biased.”
“In 2022, customer arrivals totaled 636,312 about 71 per cent of pre-pandemic ranges with comparatively increased yields supporting robust progress in tourism earnings.”
“Based mostly on present traits and inspiring suggestions from trade stakeholders, customer arrivals are projected to achieve 760,231 or 85 per cent of pre-pandemic ranges by 2023, with a full return to pre-pandemic ranges by 2024.”
An extra progress of three.0 per cent is projected for 2025, stated the ministry. “With the projected restoration in tourism and associated sectors within the medium time period, a broad-based progress of 6.0 per cent is forecast for 2023, adopted by 3.8 per cent in 2024 and a couple of.4 per cent in 2025.
”Nevertheless, draw back dangers to those forecasts have elevated with the upcoming world recession and subsequent slowdown in Fiji’s main tourism supply markets.”