The Niue government says the island has come a long way since attaining self-governing status on October 19, 1974.
It said the anniversary is a testament to the strength, resilience, and determination of the Niuean people.
Premier Dalton Tagelagi said as a nation, Niue has achieved remarkable milestones in several areas, including infrastructure development, healthcare, education, and sustainable environmental practices.
He said, "we are proud of our accomplishments and we remain dedicated to further enhancing the quality of life for our citizens, for Niue ko Kaina."
Tagelagi said through the 49 years of self-governance, Niue's diplomatic relationships with nations around the world has continued to strengthen.
"Niue is committed to promoting peace, cooperation, and mutual understanding on the global stage," Tagelagi said.
"Our diplomatic ties have opened doors to opportunities and collaborations that benefit our people and our nation as a whole.
"I welcome our new partners who recognise our sovereign status such as South Korea, Switzerland, Israel, Canada and the United States of America and look forward to fruitful partnerships."
Premier Tagelagi said strengthening partnerships with businesses was also important and the Niue government values the partnerships it has formed with key business entities.
"These partnerships play a crucial role in fostering economic growth and sustainability, and we look forward to continued collaboration with our key business partners in the Pacific, including Air New Zealand, KiwiBank, and the Asian Development Bank.
"As we raise our flag high on this historic day, the Government of Niue reaffirms its commitment to working hand in hand with all stakeholders to create a resilient, prosperous, and inclusive Niue. For Niue is our home. Niue ko Kaina.
"We look forward to the challenges and opportunities that lie ahead and are confident that together, we will continue to make Niue a beacon of self-governance and success," he added.