FIJI’S travel and tourism industry is expected to grow by 6.6 per cent this year and 4.7 per cent per annum by 2024.
And with Fiji’s total contribution of travel and tourism to gross domestic product valued at $2.84billion last year, the forecast by the World Travel and Tourism Council translates into an increase in the total contribution to $4.79b or 47.8 per cent of GDP in 10 years.
The authority on world travel and tourism released its 2014 economic impact report for Fiji yesterday, saying the contribution of travel and tourism last year was 37.1 per cent of GDP.
WTTC president and CEO David Scowsill said travel and tourism investment in Fiji last year was $408.3million or 30.3 per cent of total investment and this was projected to increase by 4.6 per cent this year and 4.4 per cent per annum over the next 10 years to $658m or 45.9 per cent of the total.
“In 2013, the total contribution of travel and tourism to employment, including jobs indirectly supported by the industry, was 33.5 per cent of total employment or 116,500 jobs. This is expected to rise by 5.2 per cent in 2014 to 122,500 jobs, and rise by 2.8 per cent per annum to 161,000 jobs in 2024 or 43.6 per cent of the total,” he said.
Mr Scowsill said the council conducted economic analysis of the impact of the travel and tourism sector in 184 countries every year.
