12 Nov 2009

Asian Development Bank says tourism arrivals to Fiji show a firm growth

11:17 am on 12 November 2009

The Asian Development Bank says tourism arrivals to Fiji are showing a firm growth while all other income-earning sectors continued to perform poorly during the third quarter.

The Fiji Times reports an ADB report saying indicators of business outlook are mixed -- credit growth remains in positive territory but is declining, and lower export earnings have been reported from sugar, mineral water, timber and garments.

It says Fiji has passed the turning point in tourism trends.

However, is says tourism volumes do not tell the whole story and expectations are that tourism receipts will remain flat given heavy discounting in the industry.

The ADB's pacific economic monitor highlighted the country's export sector noting total exports from January to July this year dropped by 13 per cent compared to the same period last year, attributed to lower earnings from major sectors.

It said imports fell by 16.4 per cent over the same period, providing more favourable balance of payments.