The Fiji Islands Hotel and Tourism Association said tourism is the only sector to turn the Fiji economy around and the incentives offered are a great help.
Association Vice President and Fiji Visitors Bureau Chairman Patrick Wong said the Vanua Levu Hotel Development Program will really open up the tourism in these areas adding that they do need to get the help of resort owners in these projects.
The tourism Industry has received a number of incentives under the 2009 Hotel Incentive Package. There will be 10 years tax holiday for capital investments not less than $7million dollars.
All capital goods including capital equipment, plant and machinery not available in Fiji that is used in carrying out the investment will be exempted from duty.
Under the Vanua Levu Hotel Development programme, any hotel development in Vanua Levu with minimum of 15% equity by resource owners, will qualify for another 7 years of tax holiday in addition to the 13 year tax exemption. In total the tax holiday will be for 20 years.
Tourism Only Sector to Turn Fiji Economy Around-Wong
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