The Reserve Bank of Fiji has raised concerns about labor supply challenges that could impede the growth of the country’s booming Business Process Outsourcing (BPO) sector. According to Governor Ariff Ali, the BPO industry has seen remarkable expansion, providing nearly $200 million annually in foreign exchange. This information was presented during his submission on the Reserve Bank’s upcoming annual report to the Standing Committee on Economic Affairs.
Ali noted that the BPO workforce, currently estimated between 5,000 to 6,000 employees, has the potential to increase by approximately 2,000 within the next few years, provided that the labor challenges are effectively addressed. He emphasized the importance of workforce development and retention strategies in maintaining the sector’s growth momentum.
This optimistic outlook aligns with recent reports indicating that Fiji is becoming a significant player in the outsourcing arena, supported by a highly literate and youthful population. Previous articles indicated plans to create around 25,000 new BPO jobs in the next five to ten years, driven by government initiatives and private sector involvement.
The industry’s growth during and following the COVID-19 pandemic highlights Fiji’s resilience as many other nations faced operational disruptions. As the government invests in enhancing digital infrastructure, including the establishment of a “BPO village” in the Kalabu Tax Free Zone, the future of Fiji’s outsourcing sector looks promising. Such developments not only aim to create more jobs but also seek to empower women, who currently make up more than 70% of the BPO workforce.
In summary, as Fiji forges ahead with its BPO sector, addressing labor supply and development will be crucial. With collaborative efforts between the government and educational institutions, along with strategic investments in infrastructure, the country is well-positioned to further establish itself as a premier outsourcing destination in the Pacific, ultimately fostering economic growth and community development.
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