About

Fiji holidays are the most popular in the South Pacific with over 500,000 tourists visiting annually, about half of whom arrive on package holidays from Australia and New Zealand. Despite these numbers and because there are so many beautiful small islands to visit, and so many secluded beach resorts to stay at, the stunning picture postcard Fiji beaches are seldom crowded. Watersports in Fiji include world class snorkelling, scuba diving and surfing which are just some of the major tourist attractions that Fiji has to offer. Tropical rainforests and traditional villages giving an additional dimension to this true south pacific paradise.

Officially the Republic of The Fiji Islands, is an island nation in Melanesia in the South Pacific Ocean about 1,100 nautical miles (2,000 km; 1,300 mi) northeast of New Zealand’s North Island. Its closest neighbours are Vanuatu to the west, France’s New Caledonia to the southwest, New Zealand’s Kermadec to the southeast, Tonga to the east, the Samoas, France’s Wallis and Futuna to the northeast and Tuvalu to the north.

The majority of Fiji’s islands were formed through volcanic activity started around 150 million years ago. Today in Fiji, some geothermal activity still occurs on the islands of Vanua Levu and Taveun. Fiji has been inhabited since the second millennium BC. Fiji comprises of an archipelago of more than 332 islands, of which 110 are permanently inhabited, and more than 500 islets, amounting to a total land area of circa 18,300 square kilometres (7,100 sq mi). The two major islands of Fiji, Viti Levu and Vanua Levu, account for 87% of the population of almost 850,000. The former contains Suva, the capital and largest city. Most of Fijians live on Viti Levu’s coasts, either in Suva or in smaller urban centres. Viti Levu’s interior is sparsely inhabited due to its terrain.

In the 17th and 18th centuries, the Dutch and the British explored Fiji. Fiji was a British colony up until 1970; British occupation lasted almost a century. Because of the abundance of forest, mineral, and fish resources, Fiji is one of the most developed economies in the Pacific island realm. Today, the main sources of foreign exchange in Fiji is the tourist industry and sugar exports. Fiji’s currency is the Fijian dollar.

Fiji has a local government system where city and town councils fall under the general supervision of the Ministry of Local Government and Urban Development.[13] President Ratu Epeli Nailatikau became Fiji’s president, after a high court ruled that the military leadership was unlawfully appointed after a 2006 coup.[14] During World War II, the United Kingdom allowed for many thousands of Fijians to volunteer to aid in Allies’ efforts via their attachment to the New Zealand and Australian army units. The Republic of Fiji Military Forces (RFMF), consisting of land and naval units defend and protect Fiji.

Fiji’s main island is known as Viti Levu and it is from this that the name “Fiji” is derived, though the common English pronunciation is based on that of their island neighbours in Tonga. Its emergence was best described as follows:

Fijians first impressed themselves on European consciousness through the writings of the members of the expeditions of Cook who met them in Tonga. They were described as formidable warriors and ferocious cannibals, builders of the finest vessels in the Pacific, but not great sailors. They inspired awe amongst the Tongans, and all their Manufactures, especially bark cloth and clubs, were highly esteemed and much in demand. They called their home Viti, but the Tongans called it Fisi, and it was by this foreign pronunciation, Fiji, first promulgated by Captain James Cook, that these islands are now known.

Fiji, endowed with forest, mineral, and fish resources, is one of the more developed of the Pacific island economies, though still with a large subsistence sector. Natural resources include timber, fish, gold, copper, offshore oil potential, hydropower. Fiji experienced a period of rapid growth in the 1960s and 1970s but stagnated in the 1980s. The coup of 1987 caused further contraction.

Economic liberalization in the years following the coup created a boom in the garment industry and a steady growth rate despite growing uncertainty of land tenure in the sugar industry. The expiration of leases for sugar cane farmers (along with reduced farm and factory efficiency) has led to a decline in sugar production despite a subsidized price. Subsidies for sugar have been provided by the EUand Fiji has been the second largest beneficiary after Mauritius.

Urbanization and expansion in the service sector have contributed to recent GDP growth. Sugar exports and a rapidly growing tourist industry — with 430,800 tourists in 2003 and increasing in the subsequent years — are the major sources of foreign exchange. Fiji is highly dependent on tourism for revenue. Sugar processing makes up one-third of industrial activity. Long-term problems include low investment and uncertain property rights. The political turmoil in Fiji has had a severe impact on the economy, which shrank by 2.8% in 2000 and grew by only 1% in 2001.

The tourism sector recovered quickly, however, with visitor arrivals reaching pre-coup levels again during 2002, which has since resulted in a modest economic recovery. This recovery continued into 2003 and 2004 but grew by 1.7% in 2005 and grew by 2.0% in 2006. Although inflation is low, the policy indicator rate of the Reserve Bank Of Fiji was raised by 1% to 3.25% in February 2006 due to fears of excessive consumption financed by debt. Lower interest rates have so far not produced greater investment for exports.

However, there has been a housing boom from declining commercial mortgage rates. The tallest building in Fiji is the fourteen-storey Reserve Bank Of Fiji Building in Suva, which was inaugurated in 1984. The Suva Central Central Commercial Centre, which opened in November 2005, was planned to outrank the Reserve Bank building at seventeen stories, but last-minute design changes made sure that the Reserve Bank building remains the tallest.

Trade and investment with Fiji has been criticized due to the country’s military dictatorship. In 2008, Fiji’s interim Prime Minister and coup leader Frank Bainimarama announced election delays and that it would pull out of the Pacific Islands Forum in Niue, where Bainimarama would have met with Australian Prime Minister Kevin Rudd and New Zealand Prime Minister Helen Clark.

The South Pacific Stock Exchange  (SPSE) is the only licensed securities exchange in the Fiji Islands and is based in Suva. Its vision is to become a regional exchange.