Friday, April 19, 2024
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Fiji received record visitors in January

Fiji received 67,502 visitors in January, 2023- the highest January arrivals on record, surpassing January 2019 levels by 5.8 per cent or 3,695 visitors.

Higher arrivals were noted from Australia, New Zealand and Canada.

The Reserve Bank of Fiji in its latest monetary policy update says the latest developments in the local economy indicate improving demand, primarily from higher-than-anticipated tourism demand, consumption activity and optimistic business and retail trade outlook.

The Central Bank says sectoral performances were generally positive in the review period and in line with economic activity, labour market conditions are improving, as the number of jobs advertised in the month of January, was higher by 59.3 per cent compared to last year.

However, the labour market remains tight with increased employment opportunities and migration.

Partial indicators (Net VAT collections, electricity consumption) portray firm consumption activity, supported by higher consumption loans, increased personal remittance inflows and growth in formal employment.

The RBF’s latest Retail Sales Survey reveals that retail trade is anticipated to expand by 6.4 percent in 2023 after an estimated growth of 15.4 percent last year.

In addition, sentiments conveyed in the December 2022 Business Expectations Survey (BES) were generally positive, with expectations for business conditions to improve in the short to medium term with improved intentions to employ more workers and invest in plant and machinery.

Reginald Chandar
Reginald Chandar
Head of News & Sports | news@fijilive.com

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