Economy of Kirbati
The
country’s economy is predominantly subsistence, with copra, seaweed and
fisheries the main source of foreign exchange earnings. Revenue from the
licensing of foreign vessels fishing in the Kiribati Exclusive Economic Zone
(EEZ) contributes some $2-3 million per annum. Tourism plays a fairly modest
role in the Gilbert Islands group but in the Northern Line Islands especially
Christmas Island and Fanning Island, tourism has a high
priority.
Revenue from tourism has been mainly generated from
cruise tourism in Fanning and Christmas Island. Cruise tourism to Fanning &
Christmas Island contributes more than USD$1.5 million each year derived
respectively from cruise ship landings.
In addition, cruise tourism also
generates extra income for the locals of Christmas Island & Fanning Island
through sales of local produce, local dancing performances and through local
tour guiding activities.