Fiji’s investment landscape has experienced a noteworthy transformation in the last decade, marked by a surge in capital directed towards diverse sectors, moving away from the nation’s traditional dependence on tourism and natural resources.
Kamal Chetty, Chief Executive of Investment Fiji, stated that while tourism continues to be a vital component of the economy, there is a growing diversification in investor interests, especially in the aftermath of the COVID-19 pandemic. “Ten years ago, most investment was concentrated in resource-based sectors. Today, we’re seeing strong interest in renewable energy, technology, outsourcing, value addition, and agriculture,” he remarked.
The pandemic has served as a pivotal moment, reshaping global investment priorities and intensifying the demand for digital services and sustainable industries. Investment Fiji has observed the emergence of sectors like information technology, cybersecurity, artificial intelligence, and business process outsourcing (BPO) as new avenues for growth in Fiji.
Renewable energy has also gained significant traction, propelled by global climate obligations and increasing energy needs. Chetty emphasized that agriculture, historically viewed as a traditional sector, is now attracting fresh interest, especially in value-added production tailored for regional and international markets.
Domestic investors play a crucial role in this diversification, with Investment Fiji estimating that approximately 50 percent of the investors it engages are local, highlighting the importance of home-grown capital in driving economic progress.
Furthermore, Chetty pointed out that tourism investment is evolving as visitor numbers stabilize, with new developments focusing more on high-end and luxury offerings instead of mass-market expansion. This shift adds another layer of diversification within the tourism sector, indicating a positive trend in the overall economic landscape of Fiji. The country is poised for a promising future as it embraces this evolving investment paradigm.
Leave a comment