Fiji has experienced a substantial economic uplift, with remittances totaling $4.5 billion between the years 2019 and 2023, according to Deputy Prime Minister and Minister for Trade Manoa Kamikamica. During a recent update to Parliament regarding the USA-Fiji Investment and Savings Drive 2024, Mr. Kamikamica highlighted the essential role of the Fijian diaspora in contributing to the nation’s economy.

The Deputy Prime Minister noted the positive responses from Fijians abroad regarding the initiative, which aims to provide opportunities for saving and investment, ultimately benefiting the country economically. He pointed out that the diaspora significantly aids economic growth, with remittances accounting for nearly 10 percent of Fiji’s GDP, thereby supporting numerous households and businesses.

In the 2022-2023 period alone, personal remittances rose by 23.2 percent, reaching $1.1723 billion. Notably, Australia’s contributions represent the largest share of remittances at 44 percent, while the United States follows at 24 percent. The remittance figures have consistently grown, averaging around 17 percent per year since 2019.

Mr. Kamikamica emphasized that many Fijians living overseas, especially in the United States, Canada, Australia, and New Zealand, are eager to invest in their home country. The investment drive aims to enhance connections and provide the necessary information, access, and support to facilitate these investment goals.

In a noteworthy development, over 100 diaspora members engaged in new investments exceeding $1 million during a six-day period. This surge illustrates the potential achievements possible when the government collaborates with its citizens for the advancement of the nation.

This article paints a promising picture of Fiji’s economic prospects, showcasing the vital support from its diaspora community and the government’s effort to engage them in the nation’s development.

For those interested in the economic progress of nations, Fiji serves as a compelling case study of how remittances and diaspora engagement can foster growth and development.