If the current growth rates and current stock levels continue, Fiji will need additional 140 hotels by 2025.

Investment Fiji chief executive officer, Godo Müller-Teut said this was if demand continues to grow.

“It is a very good thing. This means there is room for investment for Companies that are thinking of setting up and developing hotel properties,” he said.

Mr Müller-Teut reiterated the Fijian economy is on a strong growth trajectory.

He was speaking during the tripartite forum of Fiji, Australia and New Zealand Business Councils yesterday at The Pearl Resort and Spa in Pacific Harbour.

“2016 is an exciting year for us, as we expect to further deepen relationships with our customers and help potential exporters find new markets for their products, may this be across the Pacific, into Australia, New Zealand or further afield,” he said.

Mr Müller-Teut said the significance of the tourism sector cannot be underestimated and was attracting a growing interest from both domestic and foreign investors.

“A total of 41,500 people are directly employed by the tourism industry in Fiji, with an estimated 112, 5000 being indirectly employed which equates to 37 per cent of Fiji’s total workforce.”

Domestic exports by country

Mr Müller-Teut added during 2015, Fiji’s total exports equated to $1.87 billion of which $1.1 bln were domestic exports, classified as products originating from Fiji.

“Our top export partners are the United States, Australia, the United Kingdom, China, New Zealand, Vanuatu and Japan.

“Fuelled by mineral water sales, exports to the United States reached $275m, whilst exports to United Kingdom primarily concerned sugarcane destined for the European Union.

He said Australia contributed 36 per cent ($248.4m) and New Zealand contributed 15 per cent ($58.6m).

Domestic exports to Australia

Mr Müller-Teut further said domestic exports to Australia declined from $285m in 2012, to $247m in 2013, and $228m in 2014 but recovered in 2015 to $248.4m.

“In 2015, approximately 80 per cent of the $248.5m exported concerned two commodities- precious stones, metals and pearls( 40 per cent or just over $100m), followed by textiles and textiles articles ( 38 per cent or $94m).”

Edited by Maraia Vula

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