24 Nov 2008

Economist says Polynesian countries will be hit by weak NZ dollar

10:33 am on 24 November 2008

A Fiji economist says Pacific countries will soon start to see the impact of the falling New Zealand dollar.

On Friday, the New Zealand dollar was buying 97.65 Fiji cents, the lowest it been for some time against the currency, and down against most other Pacific Nations.

USP economist, Azmat Gani says the low dollar will affect tourism, as New Zealanders change their holiday plans, especially in places like Fiji and the Cook Islands, which uses the New Zealand dollar.

"The tourism industry over there will get affected, the Cook Islands export as well as imports are likely to get affected. Samoa and Tonga, they're also likely to get affected as a result of this, and those large Samoan and Tongan communities in New Zealand, the remittances are likely to get get affected. So yes the Polynesian Pacific Island countries will get affected."