Fiji’s BPO industry eyes budget boost for expansion
SUVA, FIJI — Fiji’s business process outsourcing (BPO) industry is eagerly anticipating a boost in its budget allocation following the 2024-2025 budget announcement.
This increase is expected to support the sector’s ongoing expansion and solidify its role in the country’s economic diversification strategy.
Government’s commitment to economic diversification
Fiji’s Trade Minister Manoa Kamikamica has underscored the importance of the BPO sector in Fiji’s economic landscape.
“That’s why I talk about BPO being a billion dollars. I talk about the industry being about a billion dollars. So we need to create more industries that actually create more potential for economic growth in Fiji,” Kamikamica stated.
The government aims to leverage the BPO sector to create more job opportunities and drive economic growth, reducing the country’s reliance on tourism.
Industry leaders express optimism for budget allocation
Outsource Fiji President Morika Hunter expressed confidence that the upcoming budget would include additional incentives for the BPO industry.
“So with the budget, we understand that it’s a very new segment with a huge growth opportunity. We have confidence that the government will definitely be aware of what the potential is in the BPO space. So we’re pretty sure that we will get, if not the same budget allocation, at least something more. But again, whatever it is, we appreciate that,” Hunter stated.
Strategic advantages of Fiji’s BPO sector
Fiji’s BPO industry has grown rapidly, employing around 8,000 to 10,000 Fijians and contributing approximately $216 million annually to the economy.
The sector benefits from several strategic advantages, including a highly-skilled, English-speaking workforce, robust telecommunications infrastructure, and a favorable time zone for nearshore outsourcing to Australia and New Zealand.
The government’s support through tax incentives, infrastructure development, and training programs has further bolstered the sector’s growth.
Future prospects and government support
The Fijian government has consistently demonstrated its commitment to fostering the growth of the BPO sector. Last year, it invested $2.5 million in the sector, emphasizing the importance of resilient ICT infrastructure and new skills accreditation courses.
Deputy Prime Minister Biman Prasad noted, “The outsourcing industry plays a vital role in the Fiji Government’s economic diversification strategies, serving as a sustainable pillar of economic growth and development.”
With the anticipated support from the 2024-2025 budget, Fiji’s BPO industry is poised for significant expansion.
The government’s commitment to economic diversification, coupled with the sector’s inherent advantages, positions Fiji as a leading outsourcing destination in the Pacific region.
As the industry continues to grow, it is expected to create more job opportunities and contribute substantially to the country’s economic development.
