Fiji Economy & Tourism Sector Outlook. PRESENTATION OUTLINE  Domestic Economy Outlook  GDP  Trading Partners  Exchange Rate  Inflation  Current.

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Presentation transcript:

Fiji Economy & Tourism Sector Outlook

PRESENTATION OUTLINE  Domestic Economy Outlook  GDP  Trading Partners  Exchange Rate  Inflation  Current Account  Foreign Reserves  Outstanding Bank Lending and Deposits  Sectoral Contribution to Growth  Future Investment and Growth  Ease of doing business  Impedance to Investment  Tourism Industry  Statistic’s on Visitor Arrivals,  Development plans & Projects in progress  Summary of recent investment expericen  Way Forward

Domestic growth erratic over the years GDP outlook is looking more promising

TRADING PARTNERS’ OUTLOOK  Source: IMF World Economic Outlook –April 2011  Positive Outturn in Trading Partner Countries  - Despite Natural Disasters still Positives for Fiji in Trade, Tourism

Inflation is a concern but expected to ease

Trade & Current account deficits improved

Foreign reserves comfortable

But Private Sector activity is weak

EASE OF DOING BUSINESS Ease of Doing Business2011 rank2010 rankChange in rank Singapore 11- New Zealand33- United States55- Australia10 - Samoa61676 Fiji6261 Tonga China7978 Kiribati Papua New Guinea India Total Number of Countries – 183 Source: Doing Business 2011, The World Bank

EASE OF DOING BUSINESS IN FIJI Top quartile for getting credit and protecting investors! Ease of rank 2010 rankChange in rank Doing Business6261 Starting a Business Dealing with Construction Permits 58 - Employing Workers31- Registering Property Getting Credit Protecting Investors Paying Taxes7776 Trading Across Borders Enforcing Contracts63652 Closing a Business

IMPEDIMENTS TO INVESTMENT  Major Impediments found: in no particular order of priority  Government policy uncertainty  Red tape and bureaucracy  General economic climate  Finding skilled labour  Political situation  Law and order issues  Lack of infrastructure  High Utility costs (eg. water and electricity)  Land tenure instability

FUTURE INVESTMENT AND GROWTH IN GROWTH IN TOURISM

Bibliography  Fiji GDP 2010 (FIBOS)

Questions?

Fiji Economic Outlook

 Geography  Population  GDP  Key Figures- Economic, Financial, BOP, Social Welfare, Import/Export  Indicators- GNI/Capita, Purchasing Power parity, Gender Indication, MDG, Economic Freedom Index, Diff. Between GDP & GNI  Infrastructure- Transport, Power generation & distribution, water & sanitation, Telephone & ICT  Public Finance  Money & Credit  Labour Productivity & Cost  Income Distribution  Investment  Savings  Banking Performance  Foreign Trade Performance  Price & CPI/ Tax