tl;dr: Its etymology goes back to a German botanist named Leonhart Fuchs, plus an -ia suffix.
Fuchsia (OS) is named after a color which is named after a (genus of) plant. Like many plants and flowers, the plant's scientific name was given by some European guy after some other European guy, with an -ia suffix to make it a plant name. (Presumably in many cases because they couldn't fathom that indigenous people already had names for things, and so didn't bother to find out; there are plenty of plant names that are derived from indigenous names.)
| Plant | Named after | Named by | Native to |
|---|---|---|---|
| Fuchsia | Leonhart Fuchs | Charles Plumier | Americas, Oceania |
| Begonia | Michel Bégon | Charles Plumier | Asia, Americas |
| Plumeria | Charles Plumier | Carl Linnaeus | Americas |
| Camellia | Georg Joseph Kamel | Carl Linnaeus | Asia |
| Zinnia | Johann Gottfried Zinn | Carl Linnaeus | Americas |
| Gardenia | Alexander Garden | Carl Linnaeus and John Ellis | Africa, Asia, Oceania |
| Linnaea | Carl Linnaeus | Europe, Asia, Americas | |
| Macadamia | John Macadam | Ferdinand von Mueller | Australia |
| Dahlia | Anders Dahl | Americas | |
| Magnolia | Pierre Magnol | Americas | |
| Forsythia | William Forsyth | mostly Asia | |
| Wisteria | Caspar Wistar? | Asia, North America | |
| Freesia | Friedrich Freese | Africa |