Country Profile: Mauritius
About
Mauritius, lies 800 km east of Madagascar, is an island country in the Indian Ocean. Although Creole is spoken by about four-fifths of the population, English as the official language is widely used in the business scene. The government’s strategic focus on becoming a digital island, has been attracting global investments into ICT sector along with renewable energy. Besides agri-business, tourism and real estate are contributing hugely to the service sectors locally; generating a positive 7% real GDP growth. Its liberal investment policy has made Mauritius among the most open, competitive and lowest tax economies in the world.
Factsheet
Capital
Port Louis
Area (km²)
46.7
Official language
English
Currency
Mauritian Rupee (MUR)
Population
1.27M
(2023)
Natural increase
20.7
(2023)
GDP (USD)
14.4B
(2023)
GDP per capita (USD)
11,420
(2023)
Real GDP growth
7.0
(2023)
GDP composition
Agriculture 3.6%, Industry 18.2%, Services 65.8%
(2022)
Major cities
Port Louis
Port
2
Int'l airport
1
Imports (USD)
8.47B
(2023)
Exports (USD)
5.67B
(2023)
FDI stocks (USD)
40B
(2022)
Inward FDI (USD)
375B
(2022)
Opportunities
Mauritius often referred internationally as the “Star and Key of the Indian Ocean”. “Key” for being a top-tier financial hub that “unlocks” access to the African continent and economic opportunities, and “Star” for its strategic location on the air and sea routes that link Asia, Europe, and Africa. The country has developed strong business ties with several African countries by taking advantage of its geographic location, which encourages international investment and trade. The accomplishment of sustainable economic growth requires participation in trade blocs like AfCFTA, COMESA, and IOC, membership in the African Union, and a network of trade agreements like AGOA with the USA.
Mauritius' economy, which was once based solely on crops, has since expanded to include information technology, tourism, textiles, and banking. The manufacturing sector has upgraded to high-value output through the use of automated processes and technology. Attributable to its openness, good governance, rule of law, and financial incentives, the stable and safe political environment attracts businesses looking to expand into Africa. With an emphasis on partnerships for sustainable development and responsible growth in emerging areas like the ESG framework, Mauritius remains a top destination for venture capital and private equity firms seeking to access the African market.
Strengths
Political stability
Investment Promotion and Protection Agreements guarantees predictability, certainty and security, favorable to expats.
Connectivity
The small island is accessible with international air and port connecting passengers and items from Africa to APAC.
Ease of doing business
Strong growth-oriented developmental path has been built with institutional and regulatory framework.
Reasons to invest
Broad-based economy
Transformed from an uncharted island, to a digital island, Mauritius is driving innovation with new talent and capital.
Trade agreement network
Strong cooperation across Africa and the Indian Ocean is the success of AGOA, AfCFTA, COMESA, IOC.
Friendly taxation
Besides 100% foreign ownership, exemption from capital gains tax, estate duty, wealth tax, and more.
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