Visitor arrivals are expected to reach 2019 levels by the end of 2023 – RBF

The Reserve Bank of Fiji says visitor arrivals are expected to reach 2019 levels by the end of 2023, faster than earlier anticipated following the better-than-expected arrivals in the year to April.

They say in April Fiji had 252,245 visitors which was higher than the corresponding 2019 level by 1.4 percent.

RBF Governor and Chairman of the Board, Ariff Ali says that the latest macroeconomic indicators reveal that Fiji continues to recover from the strengthening tourism industry and its positive domino effect on related sectors.

Ali also says strong consumption activity to date has been supported by increased incomes from higher employment and the steady growth in personal remittances and new consumption loans.

The Governor adds that investment activity continues to recover at a moderate pace proxied by the pick-up in new lending to both the real estate and building and construction sectors.

He further says electricity production, an indicator of business activity noted positive outcomes in the year to April, however, industry-specific issues have affected output in the gold and timber industries.