Fiji

# Fiji Economic Profile

Fiji is an island nation located in the South Pacific with a population of close to 3.3 million people and has developed a relatively stable economy in the region. With a GDP of approximately $9 billion, it is classified as an upper-middle-income country. The economy has developed around tourism and agriculture. In particular, tourism is a major source of foreign currency, with over 1 million tourists visiting annually, accounting for approximately 30-40% of GDP and serving as a crucial industry.

As for primary industries, sugar production is a traditional foundational industry and continues to play an important role. The fishing industry has also developed based on abundant marine resources, earning foreign currency through exports of frozen tuna and other products. Manufacturing is limited but includes food processing and coconut product processing.

Regarding recent economic trends, the COVID-19 pandemic inflicted severe damage on the tourism industry, causing the economy to contract significantly in 2020-2021. However, since 2022, the economy has entered a recovery phase accompanied by the recovery of tourist arrivals. Inflationary pressures are intensifying, with rising food and energy prices affecting household budgets. The government is aiming to diversify the tourism industry and build a more sustainable industrial structure.

Notable points include vulnerability to climate change. As a small island nation, risks of sea level rise and natural disasters are high, threatening long-term economic stability. Moreover, excessive dependence on tourism serves as a destabilizing factor for the economy, making industrial diversification and strengthening of regional industries urgent priorities. Regional integration and advancement of digital transformation will also be keys to development.