EXO Fiji Event Update Announcement
Statement by Outsource Fiji Executive Director, Ms Sagufta Janif
6 June 2024 | 10.30am | Outsource Fiji Foyer
Investment Fiji CEO, Mr. Kamal Chetty, representatives from the Australian Government Market Development Facility, members of the media, Bula Vinaka and good morning to you all.
Thank you for coming in today as we unveil updates on a significant milestone for Fiji’s outsourcing industry. In 2023, Outsource Fiji announced the EXO Fiji event, a strategic initiative designed to showcase our vibrant outsourcing sector to potential business partners in Australia, New Zealand, the UK, and the USA. With just two weeks remaining before the event, I am thrilled to share some exciting developments.
EXO Fiji – Exploring Outsourcing in Fiji – is more than just an event; it’s a comprehensive 4-day country familiarisation program which will begin on Tuesday 18 June 2024, and will conclude on Friday 21 June 2024, hosted at the Grand Pacific Hotel, Suva. Supported by the Fiji Government and key stakeholders such as Investment Fiji, and the Market Development Facility, this initiative is set to introduce leading location consultants from around the globe to the unparalleled advantages of Fiji as an outsourcing destination.
One of the consultants Mr Simon Kriss will be facilitating a masterclass on AI’s place in CX – he is a top leading voice for AI in Australia, and we are excited to have him join us for this event. The masterclass session is open for the public to join, and the details have been posted on our social media pages as well.
These location consultants such as Matchboard, Australia — who Outsource Fiji and our members have successfully collaborated with in the past—play a crucial role in connecting our service providers with high-profile clients across the globe. Some of the consultants that are coming in provide advisory support to large corporate brands like Amazon, IBM and Accenture amongst other. And we believe that their involvement is crucial in promoting and expanding our market reach, and their presence here marks a significant leap forward.
The purpose of this event is to provide these consultants with an immersive experience of our outsourcing landscape. They will engage with key industry stakeholders, interact with our talented and diverse workforce, and visit our service providers to witness firsthand how operations are managed.
I am excited to announce that we will be accommodating 26 high profile consultants and influencers in the Outsourcing space for the EXO Fiji Country Famil program, with 9 consultants arriving from Australia, 13 from the United States, and 4 from the United Kingdom, out of which 2 are potential investors. We are immensely grateful to the Fiji Government, and the Australian Government Market Development Facility for their substantial financial support, which has been instrumental in making this ground-breaking event possible.
I would also like to extend our deepest appreciation to Investment Fiji for their unwavering collaboration. Their efforts in attracting investors to our outsourcing ecosystem are invaluable. The idea is to not just bring in service provider or outsourcing businesses but those that can contribute to the entire ecosystem and we are extremely grateful for their support in bringing these investments into the country to further strengthen the sector in the global market.
Ladies and gentlemen, it’s important that we understand the significance of this sector, The global market for outsourcing services was valued at US$620.381 billion in 2022. It will expand at a compounded annual growth rate (CAGR) of 5.54% during the forecast period. This will result in a total market size of US$904.948 billion by 2027 and if we tap into just 10% of this market, we are looking at creating atleast 25000 jobs in Fiji’s economy in the next 5-10 years which makes the outsourcing sector a significant pillar for Fiji’s economy and our economic diversification strategy. The industry currently employs approximately 8,000 individuals in the BPO, KPO and Shared Services space.
This event is set to significantly amplify our economic landscape by creating even more job opportunities in the sector. The engagement of location consultants will be pivotal in helping our businesses secure new clients, as well as brining in new investments thus driving economic growth and boosting high-value employment across the nation.
As we welcome these consultants, we are opening the doors to increased investment, enhanced industry capabilities, and a more resilient economy. Our goal is to ensure that Fiji’s outsourcing industry not only thrives but also becomes a sustainable and robust pillar of our national economy. Thank you, and Vinaka.