tourism growth
p. 11 · Read in the full issue
Fiji enjoys big tourism growth
TOURISM generated $1.69 billion revenue for Fiji in the past five years far higher than any other industry in the country, said a report by the Fiji Visitors Bureau.
According to the Bureau, tourism contributed over 20 per cent of the country’s Gross Domestic Product.
Every $lOOO tourists spent in Fiji contributed $35000 to the overall econ omy. Fast year saw a record 318,000 visitors to Fiji who generated $419 mil
lion in foreign exchange. The tourism industry grew by only 2.2 per cent annually. A further 0.3 per cent increase would mean another 42,000 visitors to the country by the year 2000, generat ing $7OO million in revenue and creat ing 28,000 jobs.
The tourism industry had a 56 per cent “leakage rate” in the Sense that potential revenue went out of the coun try into foreign economies. The reduc tion of this leakage would be possible by encouraging locally-owned enter prises.
A one per cent reduction in this leak age would result in an extra $4 million a year retained in Fiji’s economy.