In 2009, Fiji faced a recession when its economy was impacted by the global financial crisis.
"Nearly 100,000 jobs have been created over the last 10 years.”
While not suffering from the financial crisis directly, visitor arrivals – a key driver of the economy – collapsed in its wake, sending the tourism industry into a downturn.
Since then, the country has recovered well and gone on to register seven continuous years of growth, absorbing shocks from natural disasters.
Let the good times roll
ANZ Research expects Fiji’s economy to grow by 3.3 per cent in 2018 and 3.1 per cent in 2019, supported by strong private and public sector investment.
Household consumption expenditure, the largest contributor to gross domestic product, is forecast to increase by an average of 3.3 per cent a year over the next two years, supported by employment growth and remittance inflows.
Fiji’s economy is now 25 per cent larger (in real terms) than its previous peak in 2008 and nearly 100,000 jobs have been created over the last 10 years.