Country Profiles
Focus on Fiji (continued) Fiji’s current predicament is all the more unfortunate because it is one of the region’s more developed economies. This is reflected by the World Bank’s Ease of Doing Business Index, in which Fiji ranked 34th out of 155 in 2006, but has since slipped to 54th, below Pacific neighbour Tonga. In the decade and a half leading up to the latest coup, Fiji had created a substantial tourist industry, with a varied inventory ranging from the world-class integrated resort of Denarau Island, family-friendly resorts on the Coral Coast, backpacker accommodation and upscale island retreats. Fiji is also something of a regional hub. Its capital Suva plays host to the considerable apparatus of the Pacific Islands Forum Secretariat (although this could be re-located, given that Fiji is itself currently suspended from the Forum), while Nadi, on the western ‘tourist’ side of the main island of Viti Levu, is a focal point for regional transport and home to Fiji’s successful national carrier, Air Pacific. In telecommunications, Fiji is the only Pacific Island nation to have direct
access to the trans-Pacific Southern Cross undersea fibreoptic cable. This underpins a healthy local telecommunications sector, where consumers to enjoy reliable, leadingedge services at reasonable prices. It has also enabled Fiji to develop its own call-centre industry. If the growth of this sector has been unspectacular in its first seven years, Fiji’s time-zone (usefully positioned just to the west of the International Dateline, it is where ‘the new day begins’) and affordable, educated English-speaking workforce mean it has the potential to grow much larger. The arrival of Mindpearl, international provider of call centre services to the global airline industry, in late 2009 could provide the catalyst. Fiji is also home to some of the region’s most dynamic entrepreneurs, such as Y P Reddy, founder of the regional Tanoa hotel chain, and Hari Punja, whose diverse interests include the Flour Mills of Fiji firm that exports biscuits to Australia. Two of the largest employers remain the sugar and garment industries, although these traditional mainstays have both been in decline since preferential trade access
agreements started to be phased out. Symptomatic of the maturity of Fiji’s economy is that it is comparatively broad-based, with sectors such as mining (gold), fisheries, forestry and non-textile manufacturing also making notable contributions to local employment. Indeed, in Fiji Water, it can boast a genuinely world-class brand. Bottling water from a massive artesian aquifer in the north west of Viti Levu, the US-owned firm exports its distinctive square-shaped bottles globally and has benefited from a string of highprofile products placements.
Contact Fiji Islands Trade and Investment Bureau 6th Floor, Civic Tower, Victoria Parade, Suva PO Box 2303 Government Buildings, Suva Fiji Islands Tel: +679 331 5988 Fax: +679 330 1783 Email: info@ftib.org.fj www.ftib.org.fj
Population: 883,000
Data compiled with the assistance of Pacific Islands Trade & Invest (Sydney).
Capital: Suva Surface Area:
18,376 sq km
People:
Fijian 50%, Indian 46%, other 4% (European, other Pacific Islanders, Chinese)
Time Zone:
GMT +12 hours
Business Language: English Nominal GDP: US$3.2 billion (IMF forecast 2010) Inflation:
4% (2010)
Currency:
Fiji dollar
Major industrial sectors:
Tourism, sugar, garments, gold, timber, ICT, agribusiness, fishing
Exports: Agribusiness, sugar, garments, gold, timber, fish, services Major export markets: USA, United Kingdom, Australia Imports: Manufactured goods, machinery and transport equipment, petroleum products, food, chemicals Major import markets: Singapore, Australia, New Zealand WORLD BANK EASE OF DOING BUSINESS RANKING 2010:
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