“Everyone wants to invest in Fiji now.”
That’s the view of entrepreneur Truman Bradley, who owns seven companies in the Pacific island nation.
He names the location as an attractive factor. “We have access to North America, we have access to Asia, we have access to Australia and New Zealand,” he says.
However, the past six years have been particularly difficult for Fiji.
In 2016, the worst storm on record in the southern hemisphere – Cyclone Winston – swept through the region, killing dozens of people and forcing tens of thousands more from their homes.
It was a stark reminder that the Pacific is particularly vulnerable to extreme weather events as the world’s oceans warm from climate change.
Then came Covid-19. With borders closed and lockdowns in place, Fiji’s thriving tourism industry – a mainstay of the economy – has all but ground to a halt, while lucrative seafood and agricultural exports have ground to a halt.
At the same time, Pacific island nations like Fiji are also grappling with escalating competition between the US and China for influence in the region, with both countries offering credit, aid and security. In response, Australia and New Zealand have also increased their involvement in the region.
Many in Fiji agree that now is the time for the country to diversify away from traditional industries and tourism to protect its economy.
- Country profile Fiji
Mr Bradley says the answer is to invest in sectors like technology and business services like call centers. And thankfully, he says there’s a lot of interest.
He speaks to the BBC from his office in the capital, Suva, which is in an old wooden house overlooking the city. His businesses range from selling furniture to developing phone apps.
The latter includes a subscription-based weather app called NaDraki, which provides forecasts and climate information to the Fiji government, businesses and the public.
The app also has a chat service where subscribers can speak directly to a weather forecaster for more detailed information.
Mr Bradley’s latest venture is a forthcoming travel app called Bula Fiji, which translates to ‘Welcome Fiji’. It will allow holidaymakers to book flights, accommodation and activities all in one place.
Looking ahead, Mr Bradley hopes that building a larger technology sector in Fiji will allow more university graduates to stay and work in the country rather than leave the country to work abroad.
Fiji’s main university, the University of the South Pacific, is the leading institution in the region.
Top students travel from all over Fiji and other Pacific island nations to study there. But after completing their studies, there has traditionally been a brain drain, as many migrated to more developed economies such as Australia and New Zealand in search of better employment opportunities.
“We have a university here that produces graduates and they don’t really find where they fit [in Fiji]says Mr Bradley, who was previously the head of Fiji’s foreign investment office.
“So they all go. Why can’t we work with these graduates and then enable them to develop applications and opportunities?”
Rabih Yazbek, Head of Fiji at Australian multinational banking group ANZ, says: “Fiji is benefiting from all the attention that the region is getting.
“I think it’s quite uniquely located in the Pacific, it’s just geographically the center of a lot of Pacific islands,” he adds. “It has a really well educated young workforce. It also has an excellent internet connection.”
New Tech Economy is a series exploring how technological innovation will shape the emerging economic landscape.
This Internet is a real asset for the country and neighboring islands. Most of the subsea internet cables in the region originate from Fiji.
These qualities have helped outsourced call centers in Fiji become successful.
ANZ uses these call centers for credit card processing, lending, payments and account functions. Other companies use these call centers for customer sales.
Mr Yazbek says that the fact that local workers have a good command of English will help the industry to grow. And like India and the Philippines, call centers are proving to be stepping stones to the development of a broader technology sector.
Sanjesh Kumar, director of Fiji cloud computing provider Acton, agrees. The company has overseas customers in Australia, New Zealand and even as far as Canada.
“I think the time is absolutely right for local companies to be at the forefront and actually see what applied technology can do,” he says.
He adds that climate change modeling is an example of something that could be done well by Fiji given its location.
“The temperature swings and then the sea level rise and greenhouse gas emissions… we’re on the front lines of all those things,” he says. “[And] we can do it much more efficiently today, we can exchange information much faster.”
Mr. Yazbek also sees potential in Fiji’s traditional industries. While the country has historically relied on sugarcane, which remains its fourth-largest export by value, he says ginger and turmeric have room to expand into new markets.
Mr Yazbek adds that kava – a local social drink made from the root or stump of the kava bush – could be marketed much more broadly than is currently the case.
Fish is now the third largest natural resource exported from Fiji. The country’s fisheries minister wants to see more investment in processing plants in the country.
“The Pacific Islands should process their own resources,” says Semi Tuleca Koroilavesau. “This will bring maximum benefits and returns to people. Not only in dollar bills, but also in job opportunities.
“The benefits are greater than just allowing other countries to come and fish and take them away and process them in their own countries.”
The ingredients for a bright future seem to be in place in Fiji. Using them to diversify the economy will be crucial to ensure the country can protect itself from the impacts of climate change and to give its young, well-educated workforce a reason to stay.
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