Fijian economy projected to grow by 7.1%
The ADB says border reopening last December is expected to spur tourism, which remains key to a quick economic turnaround and restored employment.
However, it says international competition among travel destinations is likely to be intense.
The ADB says since border reopening, the Fijian Government has gradually eased travel restrictions, and from today Fiji is reopen to all countries.
Travellers only need to present negative COVID-19 test results prior to departure and upon arrival in Fiji, travel insurance, and proof of vaccination.
The ADB also says monthly visitor arrivals since border reopening suggest that 2022 annual arrivals may reach half of 2019 numbers, rising by the end of 2023 to three-quarters.
The ADB report also says inflation is projected to surge to 4.5% in 2022 as the Russian invasion of Ukraine pushes up global commodity prices, most notably of oil and wheat, and consequently affects prices for other imported goods.
Prices will remain elevated in 2023.
It says domestically, even regulated prices are likely to rise with pass through of higher import prices and shipping constraints.
Credit: FBC TV
#BayshoreFiji@BayshoreSuva#BayshoreNadi#BayshoreLautoka#Bayshorerental#BuyandSellINfIJI#BayshoreProperty#, #bayshorerealestate, #bayshorerealestate #bayshorefiji #bayshoresuva #bayshorenadi #bayshorelautoka, #bayshorerealestate#bayshorefiji#bayshoresuva#bayshorenadi#bayshorelautoka, #RealestateNews#Bayshoresuva#BayshoreNadi#BayshoreLautoka#July13News, Bayshore Fiji
