Fiji’s Yachting sector generates $61M
January 28, 2019 12:49 pm
[Source: Baobab Marine Fiji]
Fiji’s yachting sector is slowly stamping its mark, becoming an important contributor to the Fijian economy.
A new study reveals the sector generated $61 million last year.
The study released earlier this month by the Australian Government-funded Market Development Facility provides the first-ever independent economic assessment of Fiji’s yachting industry.
It was conducted in partnership with Fiji’s leading marinas, Port Denarau and Vuda.
With its modest visitor arrivals at 4, 473 arriving on an estimated 721 visiting yachts, it is one of highest yielding tourism segments.
The study reveals it has an annual average spend for each visitor per trip of
$7,808, more than three-times the national average of $2,067 quoted in the Fijian Tourism 2021 Plan.
An estimated 54 super yachts arrived into Fiji last year generating an average spend of $167,000 per vessel and an annual overall contribution of nine million dollars.
The economic contribution by the sector is even more pronounced as yachts sail to many remote islands and communities – and spend more on locally sourced food, supplies and repairs compared to normal tourists spending.
The report quotes that $35 million of foreign exchange was spent directly into Fijian business.
Tourism Fiji chief executive, Matthew Stockel says the preliminary findings are insightful.