Fiji must think outside the box to grow economy: Economist

Fiji should aim to double its economic growth rate to six per cent within three years through bolder reforms, stronger regional partnerships and wider global engagement, ANZ senior economist Kishti Sen says.

Speaking at the 51st Fiji Institute of Chartered Accountants Annual Congress 2026 at the Crowne Plaza Fiji Nadi Bay Resort and Spa yesterday, Mr Sen said Fiji needed to move beyond traditional economic thinking to secure long-term growth.

“The time has arrived for Fiji to think outside the box, be bold, be ambitious, and aim for that six per cent gross domestic product (GDP) growth within three years,” he said.

Mr Sen said Fiji’s economy remained heavily dependent on tourism, remittances and overseas-generated income, leaving it exposed to global uncertainty and rising oil prices.

“Tourists come here, they support jobs, they spend, the economy keeps growing, and our friends and families who live abroad help us during difficult times through remittances,” he said.

He warned instability in global oil markets, linked to supply concerns through the Strait of Hormuz and tensions in the Middle East, could push prices even higher for consumers.

“Prices may stabilise, but I think there are still some increases left in the system to be passed on to consumers,” he said.

Despite external pressures, Mr Sen said Fiji’s tourism sector continued to perform strongly, with visitor arrivals approaching one million.

“The tourism economy is holding up quite well, which is good news,” he said.

He also urged Fiji to reassess tourism incentives introduced after the pandemic to remain competitive against lower-cost Asian destinations.

“If you can do 1.1 million visitors this year, the economy will do better than what most people are forecasting,” he said.

Mr Sen said stronger tourism performance would support employment and boost Government revenue through value-added tax collections.

“We win on the other side by collecting more VAT and keeping people in jobs.”

He said agriculture, consumer spending and stronger Pacific partnerships — particularly with Papua New Guinea — would also play a key role in driving future growth.

“In the region's economies, Papua New Guinea is doing really well. Maximising opportunities through partnerships in the Pacific region, particularly with Papua New Guinea, while strengthening relationships with the rest of the world, is going to be a good deal.”

Mr Sen said Fiji should focus on attracting technical expertise and strategic partnerships to support sustainable economic development.

“We are not looking for handouts or funding for projects or programmes, but technical expertise to grow Fiji,” he said.