FIJI OVERVIEW

  • Fijians are the happiest people on Earth –WIN/Gallup International poll
    – 2.5 billion people within a 10 hour flight of Fiji.
    – Fiji Tourism Board were targeting 5% minimum annual  growth pre the Covid pandemic. This target will likely increase post the pandemic, as Fiji is projected to enjoy a tourism boom given its location and safe have status.
    – Attractive Tax and duty incentives for new projects.
    – Fiji Airways already services 12+ major international cities/markets and has potential to add new routes and frequencies for the global tourism demand growth that is projected for Fiji post Covid – 19.
    – Naisoso project completion will be post Covid -19 stabilization (2024)
    – Interim ‘Pacific bubble’ expected to be a boom for Fiji as only currently captures 3.1% of Australia outbound and 6.3% of NZ outbound leisure travellers.

FIJI DEMAND PICTURE

Below conditions expected to return within maximum 24–36months:

  • Hotel supply, which already sits at 100% occupancy (on-peak), is insufficient to meet current tourist demand
  • Estimated that hotel room supply shortage currently sits at over 1,000 rooms and growing each year with lack of supply.
  • A strong demand outlook and limited new supply presents a compelling case forNaisoso
  • Naisoso project responds to highest current and expected future demand segment.

FIJI TOURISM MARKET AT A GLANCE

Steadily Increasing Number of Visitors

Fiji hosted almost 900,000 visitors to Fiji with an overall growth of 4.2% for 2018-2019. This demonstrates a 12% increase since 2016. This tourism activity amounted to FJD$2+ billion in economic impact – more than ever before. Furthermore, almost 100,000 visitors came from the US in 2019, nearly 2 times as many as 2016. Visitors grew at a pace of 4.3% per annum since 2014, and $ spending per person grew at 3.1% per annum during the same time period.

Increased Demand from Australia, NZ and SE Asia in the near term + Growth in the future Japan, US & China markets = Growing Target Audiences for the Hotel & Commercial Centre long term.

  • Tourism demand will be very strong post Covid, as Fiji is not only considered an idyllic tropical leisure beach destination, but also a safe and secure haven.
  • In the course of 5 years from 2014 to 2019, Tourism Expenditure nearly doubled from New Zealand and the USA with a CAGR of 11% and 10% respectively.

Fiji’s Branded Hotel Penetration is a fraction of Australia, New Zealand, and the Global Avg.

  • Fiji’s Branded Hotel Penetration remains low at roughly half of the global average and Australia or one-third of New Zealand. (Branded Hotel Penetration by # of Keys is calculated by # of Keys operated by Branded Hotels/Total # of Keys.)
  • There’s significant room for branded hotels such as Marriott to come into the Fiji market.

Majority of the Tourists falls under the Target Household Income Bracket

  • Our target audience will have a household income between USD 60k and 200k. In each of the key source markets, this represents apx. 70-80% of the total visitors.

**MEDIA & PR**