Shamal Chand says visitor arrivals projected to have just closed under the one-million mark in 2024 and they expect this feat to be achieved in 2025.
Westpac Fiji Senior Economist Shamal Chand says Fiji showed great resilience last year.
In his Pacific Pulse titled “Highlights from small Island Nations”, Chand says key sectors, including tourism, rebounded in the second quarter of last year, leading Westpac Fiji to raise its growth forecast to three percent from the earlier 2.5 percent.
He says this this was done after higher-than-expected tourism arrivals from key markets.
Chand says visitor arrivals projected to have just closed under the one-million mark in 2024 and they expect this feat to be achieved in 2025.
He highlights that Fiji is starting 2025 with strong momentum, with growth expected to return to the historical trend of 3.4 percent, helped by lower global inflation and investment projects in pipeline.
However, Chand says it remains vulnerable to severe weather events being in the cyclone season.
The Senior Economist says it is still uncertain how proposed Trump tariffs will affect Fiji’s key exports which includes mineral water to the US and whether they will hinder progress on reducing inflation.
Chand says additional direct flight announcements to Dallas, US and Cairns, Australia will add to current arrivals and drive an increase in earnings.