Fiji Economy and Politics

The land of Fiji is considered to be among the more economically developed countries of the Pacific island. Fiji had witnessed a swift economic growth during the 1960s and 1970s. But somehow the growth became sluggish in the early parts of the1980s. The 1987coup had made things all the more difficult. But soon the land of Fiji witnessed and participated in the economic liberalization. This economic liberalization gave a much-needed to the garment industry of the country. The GDP growth owes much of its credit to the expansion and urbanization of the service sector in the recent times. Sugar exports have increased. Fiji is home to a swiftly growing tourist industry. The tourism industry is one of the biggest sources for earning foreign exchange. In the year 2003, Fiji had about 430,800 tourists from round the globe.

Fiji economy and politics have exerted much influence over one another. Fiji had to go through times or political unrest. The frequent military and civilian-led coups have had some impact over the economy of the country as a whole. The political circumstances pushed the economy back by a margin of 2.8 percent in the year 2000. In 2001, the economy was able to achieve a growth of only 1 percent. By its own virtue, Fiji economy and politics didn't have morbid impact on the tourism industry, which was able to recover the lost grounds pretty fast. The hospitality sector of Fiji was even able to achieve some positive growth during the hard times. Inflation is at a low level in the island nation of Fiji.