06:20 AM EDT, 08/20/2024 (MT Newswires) -- Fiji's border reopening post-COVID saw strong jobs and income growth, noted ANZ Bank.

That rebound in income growth drove robust increases in consumer spending over the 12 months to March 2023 and helped Fiji quickly get back to its pre-pandemic level of gross domestic product (GDP), wrote the bank in a note to clients.

Since then, however, private consumption has tracked sideways and has been a constraint on domestic demand, pointed out ANZ. Net overseas migration and an escalation in short-term overseas departures have weighed on volume purchases of consumer goods and services.

The bank thinks retail trade and private consumption spending should turn around in the second half of this year supported by significant wage increases.

Investment is picking up and the government is spending more money. As a consequence, ANZ believes Fiji's domestic economy is in good shape despite recent challenges.