Fiji Economy & Tourism Sector Outlook. PRESENTATION OUTLINE Domestic Economy Outlook GDP Trading...
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Transcript of Fiji Economy & Tourism Sector Outlook. PRESENTATION OUTLINE Domestic Economy Outlook GDP Trading...
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Fiji Economy & Tourism Sector Outlook
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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
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Domestic growth erratic over the yearsGDP outlook is looking more promising
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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
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Inflation is a concern but expected to ease
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Trade & Current account deficits improved
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Foreign reserves comfortable
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But Private Sector activity is weak
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EASE OF DOING BUSINESS
Ease of Doing Business
2011 rank 2010 rank Change in rank
Singapore 1 1 -
New Zealand 3 3 -
United States 5 5 -
Australia 10 10 -
Samoa 61 67 6
Fiji 62 61 -1
Tonga 71 66 -5
China 79 78 -1
Kiribati 93 91 -2
Papua New Guinea 103 108 3
India 134 135 1
Total Number of Countries – 183 Source: Doing Business 2011, The World Bank
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EASE OF DOING BUSINESS IN FIJITop quartile for getting credit and protecting investors!
Ease of... 2011 rank 2010 rank Change in rank
Doing Business 62 61 -1
Starting a Business 104 107 3
Dealing with Construction Permits
58 58 -
Employing Workers 31 -
Registering Property 50 44 -6
Getting Credit 46 44 -2
Protecting Investors 44 41 -3
Paying Taxes 77 76 -1
Trading Across Borders 103 108 5
Enforcing Contracts 63 65 2
Closing a Business
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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
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FUTURE INVESTMENT AND GROWTH IN GROWTH IN TOURISM
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Bibliography Fiji GDP 2010 (FIBOS)
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Questions?
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Fiji Economic Outlook
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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