THE tourism industry in Fiji is on track for another record year and likely to benefit from reduced travel costs as fuel prices fall, says a new report launched at the 52nd Annual Meeting of ADB’s Board of Governors yesterday.
According to the Pacific Economic Monitor, expanded private investment in tourism will contribute to continued growth in construction while inward remittances are expected to continue growing in 2019 on increased seasonal employment in Australia and New Zealand.
The PEM also highlighted that the Fijian economy grew by 3.0 per cent in 2018 with contributions from agriculture, forestry, and construction, and particularly with continued growth in tourist arrivals.
Meanwhile the report said despite two cyclones that caused flooding, sugarcane production increased to 1.7million tons, up by 4.0 per cent from 2017, though cane quality suffered and milling efficiency declined.
It said timber harvested from pine and mahogany plantations increased substantially for higher forestry output, gold production declined, but food, beverages, tobacco, sawmilling, and the manufacture of wood products all experienced growth.
More reports from the ADB meeting is in today’s edition of The Fiji Times.
