The diversified economy of Mauritius
Since gaining its independence in 1968, Mauritius has went through a remarkable transformation. Previously active in the monoculture of sugarcane, today it prides itself in having a strong and diversified economy.
The island’s diversified economy comprises of:
Ocean Economy
- GDP Contribution: 4% (exclusive of coastal tourism)
- Maritime zone of 2.3 million km2, equivalent to the territory of Spain, Germany, Italy, France and United Kingdom combined
- Export: USD 250 million
- Re-Export: USD 300 million
- Employment: 16,000
- Investment opportunities (with fiscal incentives) in:
- Fisheries, aquaculture and seafood processing
- Seabed exploration for hydrocarbon and minerals
- Ship building and ship registration
- Marine biotechnology
Textile and Manufacturing
- GDP contribution of 12.1%
- 85% of total exports
- Employment: 103,400
- 810 large establishments
- Investment opportunities in:
- Textile & Apparel
- Seafood Processing
- Agro-Processing
- Rum & Spirits
- Jewellery
- Pharmaceuticals and Medical devices
- OEMs and Automotive Components
- Technical Textiles
- Metal Fabrication
- Printing and Packaging
- Paper products
- Paints and Chemicals
- Recycling
Real Estate & Hospitality
- GDP contribution (Real Estate & Construction): 10.5%
- FDI: 6.7%
- GDP contribution: 13%
- Employment: 8,635
- Sectoral growth rate: 1.1%
- Opportunities in:
- Investment Banking
- Fintech
- Insurance
- Capital Markets
- Global Funds
- Global Treasurey Activities
- Family Offices
ICT-BPO industry
- GDP contribution: 7%
- 850 companies
- Employment: 27,000
- Internet penetration: 115%
- Mobile penetration: 143%
Education
- GDP contribution: 4.8%
- Gross Tertiary Enrolment Ratio: 48.9%
- Total employment: 29,965
- Primary schools: 319
- Secondary schools: 179
- Training institutions: 464
- Tertiary educational institutions: 51
- Investment opportunities (with fiscal incesntives) in:
- World-class pre-primary, primary and secondary schools
- Technical and vocational institutes
- Institutions/university campuses offering courses in innovative fields such as Artificial Intelligence, blockchain, robotics, Fintech, renewable energy, Ocean Economy, creative arts, high tech engineering, biotechnology, life sciences, computing, healthcare among others
- Centres of excellence
- Executive education
- Sports academies
Healthcare
- GDP contribution: 4.6
- Total employment: 8500 (doctors, dentists, pharmacists, qualified nurses and midwives)
- Investment opportunities in:
- Specialised diabetes research and treatment centres
- Specialised centres for elderly care & rehabilitative medicine
- Plastic reconstructive surgery clinics
- Clinics for dental surgery and dento-facial orthopaedics
- Psychiatric and Mental Health Services hospital
- Convalescence and pain clinics providing specialised care to patients suffering from acute and chronic conditions
- Clinics specializing in sports medicine
- Wellness centres and health resorts for rehabilitation
- Telemedicine
Freeport & Logistics
- GDP contribution (Transportation and Storage): 0.6%
- Total trade value: USD 738 million
- Import volume: 263,081 tons
- Export volume: 254,236 tons
- Freeport operators: 205
- Freeport incesntives:
- Duty-Free and VAT free for goods and equipment imported into Freeport zones
- 3% tax on export of goods
- Preferential market access
- 100% foreign ownership
- Free repatriation of profits
- No foreign exchange control
- Reduced port handling charges
Agro-Industry
- GDP contribution: 3.3
- Total Export: MUR 9.3 billion
- Employment: 41,000
- Investment opportunities in:
- Technology-based farming
Lifesciences
- +1000 trials carried out on cosmetic and pharmaceutical products
- Number of players: 25
- Employment: 1,275
- Investment opportunities (with fiscal incesntives) in:
- Pharmaceuticals
- Clinical and Pre-clinical Research
- Nutraceuticals
- Biotechnology
Creative & film industry
- GDP contribution: 3.5%
- GDP: MUR 14 billion
- Incentive: 30% cash rebate for local and foreign productions
Source: Economic Development Board, 2020 – www.edbmauritius.org