Africa Immigration Series (AIS) is a series of articles to be published on our blog frequently. Each article will explore the Africa’s expat mobility landscape and a brief overview of the current economic situation and investment opportunities.
Our second article focuses on Mauritius.
Capital: Port Louis
Population: 1,322,238 (estimation at July 2013)
Currency: Mauritian rupee
Government: Parliamentary democracy
Mauritius, an island nation east of Madagascar off the southeast coast of Africa, gained independence in 1968. A stable democracy with regular free elections and a positive human rights record, the country has attracted considerable foreign investment and has earned one of Africa’s highest per capita incomes. Mauritius is divided into ten districts and three dependencies, and its capital is Port Louis. Its official language is English, and its currency is the Mauritian rupee (MUR).
Since independence, Mauritius has developed from a low-income, agriculturally based economy to a middle-income, diversified economy with growing industrial, financial, and tourist sectors. For most of this period, annual growth has been in the order of 5% to 6%. This remarkable achievement has been reflected in more equitable income distribution, increased life expectancy, lowered infant mortality, and a much-improved infrastructure. The economy depends on tourism, textiles and apparel, and financial services, and is expanding into fish processing, information and communications technology, hospitality, and property development.
According to Statistics of Mauritius, the growth of gross domestic product (GDP) at basic prices was 3.8% in 2017. The headline inflation rate increased from 1.0% in 2016 to 3.7% in 2017.
Investment as a ratio of GDP has increased by 17.3% in 2017 compared to 18.2% in 2016, and total foreign direct investment for the period of January 2017 to September 2017 was 362 million United States dollars (USD). GDP per capita for financial year 2017 was USD 10,694.
Stay tuned for our upcoming article on the immigration landscape of Mauritius.
Read more about our very first AIS article of introducing Kenya.
Please do not hesitate to contact us for advice regarding immigration & visa, setting up business, property transfer & investment.
by Fernanda Braz