Fiji has experienced a significant economic uplift, receiving an impressive $4.5 billion in remittances from 2019 to 2023, according to Deputy Prime Minister and Minister for Trade Manoa Kamikamica. During his address to Parliament regarding the upcoming USA-Fiji Investment and Savings Drive 2024, Mr. Kamikamica highlighted the essential role the Fijian diaspora plays in the country’s economy.

He pointed out that the remittances represent nearly 10 percent of Fiji’s Gross Domestic Product (GDP), directly benefiting countless households and businesses. Among the source countries, Australia contributed the highest percentage of 44%, while the United States ranked second with 24%. Notably, personal remittances surged by 23.2% to reach $1.172 billion in the 2022-2023 period, reflecting an average growth of 17% annually since 2019.

Furthermore, Mr. Kamikamica emphasized the eagerness of diaspora members residing in various countries, including the US, Canada, Australia, and New Zealand, to invest in Fiji and engage in its development. He noted that the saving and investment drive aims to provide crucial information, access, support, and policies for these investors. The initiative has already facilitated over $1 million in new diaspora investments from more than 100 participants within just six days.

This influx of remittances and investments showcases the potential for fostering economic growth in Fiji, especially when combined with the active participation of the diaspora. The Deputy Prime Minister’s remarks reflect a hopeful outlook for the future, emphasizing collaboration and the importance of listening to the needs of Fijians to achieve sustainable development.

In summary, Fiji’s strong remittance inflow underscores the vital connection between the diaspora and the nation’s economy, highlighting both a success story and a promising prospect for future growth.