Fiji Boosts Economy with $4.5 Billion in Remittances, Driven by Diaspora Investments

Fiji experienced a significant economic boost of $4.5 billion in remittances from 2019 to 2023, according to Deputy Prime Minister and Minister for Trade, Manoa Kamikamica. While addressing Parliament on the USA-Fiji Investment and Savings Drive 2024, Mr. Kamikamica highlighted the initiative’s success in gaining positive feedback from Fijians living abroad. He emphasized that it created valuable investment and saving opportunities while significantly contributing to Fiji’s economy.

“The Fijian diaspora plays a critical role in driving our economic development. The numbers are a testament to their impact—between 2019 and 2023, Fiji received an impressive $4.5 billion in remittances,” stated the Deputy PM. He further noted that while the United States contributed 24 percent of total remittances, making it the second-largest source, Australia led with 44 percent.

Personal remittances surged by 23.2 percent, reaching $1.1723 billion during the 2022-2023 period. “Since 2019, these figures have grown at an average rate of 17 percent annually,” he added. To illustrate the impact, Mr. Kamikamica explained that remittances now account for nearly 10 percent of Fiji’s GDP, directly supporting numerous households and businesses across the nation.

“Many members of our diaspora, particularly those in the United States, Canada, Australia, and New Zealand, are keen to contribute more to Fiji’s growth,” said Deputy Prime Minister and Minister for Trade, Manoa Kamikamica. “They want to invest in Fiji, plan for their retirement, and actively participate in the nation’s development.”

He explained that the saving and investment drive successfully addressed the challenges faced by the diaspora, including gaps in information, access, support, and policies. Over the course of six days, the initiative assisted more than 100 individuals, resulting in new diaspora investments exceeding $1 million.

“This is a testament to what we can achieve when we listen to our people and collaborate for the betterment of all Fijians,” Mr. Kamikamica concluded.

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