Mauritius, officially the Republic of Mauritius, is an island nation in the Indian Ocean about 2,000 kilometers (1,200 mi) off the southeast coast of the African continent, east of Madagascar whose capital city is Port Louis. It includes the main island (also called Mauritius), as well as Rodrigues, Agaléga, and St. Brandon. The islands of Mauritius and Rodrigues, along with nearby Réunion French overseas department), are part of the Mascarene Islands.
The president of the Republic of Mauritius is the head of state of the Republic of Mauritius. Mauritius is a parliamentary republic, and the president functions as a ceremonial figurehead, elected by the National Assembly as set out by the Constitution of Mauritius. The current office-holder is Prithvirajsing Roopun. He took office on 2 December 2019.
The current population of Mauritius is 1,278,078 as of Monday, July 3, 2023, based on Worldometer elaboration of the latest United Nations data.
The island of Mauritius has made substantial progress in its campaign for social equality and poverty reduction and represents an exemplary model of development.
The island is classified as an upper-middle-income country by the World Bank, with a high Human Development Index, and is seeking to become a high-income country within the next decade. According to the IMF, GDP per capita (PPP) reached almost USD 22,030 in 2021, the second-highest in Africa after Seychelles.
Despite government fiscal support, including wage subsidies, unemployment increased since the outbreak of the COVID-19 pandemic mostly as a consequence of the downturn of the tourism sector reaching 10.5% in the first half of 2021 (Coface)
The economy of Mauritius is a mixed developing economy based on agriculture, exports, financial services, and tourism.
Mauritius’ National Youth Policy (2010) defines youth as between 14 and 29 years of age and notes that “all persons within this age group are not homogeneous.
Young people out of employment without adequate education, training, and skills are at high risk of economic marginalization and social exclusion and represent a challenge to growth as well as economic and social stability.
The key use documents in a strategy of Mauritius development are: Mauritius Vision 2030, Strategic Plan for Mauritius (2020-2025)
Business opportunities in Mauritius
Investing in Mauritius’ financial sector can be a lucrative opportunity as the country has a well-developed banking system and a growing insurance and asset management industry. The tourism sector also offers potential investments in areas such as luxury resorts, eco-tourism, and cultural tourism. The ICT sector is also growing with increasing demand for IT services, especially in areas such as BPO and software development.
Mauritius’ manufacturing sector also offers investment opportunities with a focus on textile and clothing, agro-processing, and pharmaceuticals. The government is also promoting sustainable tourism, which offers opportunities for eco-friendly and community-based tourism projects.
