Economic diversification: a winning strategy

Historically based on agriculture, particularly sugar cane, Mauritius has reinvented itself by diversifying its economy. Key sectors today include:

1. Tourism: Despite the disruptions caused by the COVID-19 pandemic, tourism remains an economic pillar. With a gradual return of international visitors and initiatives to attract high-end tourism, this sector is contributing significantly to the country’s GDP.

2. Financial Services: Mauritius has positioned itself as a regional hub for financial services and investment in Africa. Its attractive tax framework and bilateral agreements with many countries strengthen its competitiveness.

3. ICT and Innovation: By investing in digital infrastructure and creating specialised economic zones, Mauritius aspires to become a technology hub for the region.

4. The blue economy: Exploiting its vast maritime space, the country is banking on activities such as sustainable fishing, aquaculture and marine renewable energies to stimulate its growth.

Foreign investment and the tax framework

Mauritius attracts foreign investment thanks to a favourable business environment, competitive tax incentives and a skilled and bilingual workforce. Free zones and strategic partnerships with emerging economies such as India and China enhance its attractiveness.

Long-term outlook

To maintain its economic dynamism, Mauritius will need to continue to innovate and adapt to global trends. Priorities include:

• Strengthening education and training: To prepare a workforce adaptable to the digital economy and new emerging sectors.

• Promoting sustainability: Integrating green practices into all sectors, especially tourism and the blue economy.

• Diversify markets: Reduce dependence on certain economic partners by expanding commercial relations.

Conclusion

With a clear strategic vision and sustained efforts to address its challenges, Mauritius is well positioned to remain a model of economic growth in the Indian Ocean and beyond. Collaboration between government, business and civil society will be crucial to realising its full potential.