The Reserve Bank of Fiji’s August Economic Review stated that visitor arrivals, hotel occupancy rates and revenue earned from rooms sold trended above 2019 and 2022 levels.
The review stated that consumption activity was upbeat cumulative to July as indicated by the annual growth in net Value Added Tax and loans for consumption purposes.
The RBF stated that investment activity shows signs of recovery as investment loans and domestic cement sales grew annually in the year to July.
The labour demand remains strong, which the RBF says is corroborated by the high growth in recruitment intentions in the year to July.
Income levels also rose over the same period, which the RBF states is indicated by an increase in Pay as You Earn (PAYE) tax collections.