With a 15.6% growth rate on the year, Fiji’s economy is back with a vengeance

While most of the world is staring down the barrel of economic recession, the Fijian economy is set to shatter records for economic growth on the year. The pandemic was brutal blow for small island economies, but thanks to an almost single-minded focus on re-opening, Fiji is now on pace for an astounding recovery.

The resurgence has been driven by tourism numbers that rival 2019. By getting out in front of the rest of the Pacific, Fiji has welcomed back hundreds of thousands of tourists since its December re-opening. Most people who were unemployed during the pandemic are now working again.

The Reserve Bank of Fiji says foreign reserves remain comfortable at $3.5 billion with 8 months of retained imports and are expected to remain adequate in the near to medium term.

Fiji’s lesson for other Pacific Island countries and tourism destinations is clear: Do not dither when it comes to re-opening. Fiji took the right medicine at the right time, and it’s since become a model for recovering economies.