There is a decent possibility that Fiji’s boundaries could open before the year’s end and the Gross Domestic Product can bounce back by 4.9% relying upon the accessibility of COVID-19 immunizations.
This is as per the 2020 ANZ Research Pacific Economic Outlook Fiji Report which is co-wrote by ANZ’s International Economist Kishti Sen and Senior International Economist Tom Kenny.
As per the report, a 15.4% lift in GDP is gauge for 2022.
The travel industry income tumbled from $1.9 billion of every 2019 to $308 million out of 2020 which is a decay of about 84%.
Notwithstanding, it likewise expresses that dangers to the viewpoint are adjusted and there is a likelihood that worldwide lines don’t open this year if antibody supply is restricted.
The travel industry is one of the areas hardest hit by the COVID-19 pandemic which has brought about the deficiency of thousands of occupations with the joblessness rate going up to 21.5% from 7% in 2019.
The report further states they are confident that the non-the travel industry economy driven by solid settlements would keep on supporting GDP and work this year.
As per the Reserve Bank, Fiji’s all out settlements got from January to December a year ago was the most noteworthy truly remaining at $653 million, which is a yearly increment of 11%.