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MAURITIUS ECONOMIC INDICATORS |
Mauritius GDP (PPP): |
$14.9 billion (2007 est.)
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Mauritius GDP (official exchange rate): |
$7.03 billion (2007 est.)
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Mauritius GDP - real growth rate: |
5.5% (2007 est.)
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Mauritius GDP - per capita (PPP): |
$11,900 (2007 est.)
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Mauritius GDP - composition by sector: |
agriculture: 4.8%
industry: 25%
services: 70.1% (2007 est.) |
Unemployment |
9.2% (2007 est.) |
Inflation rate (consumer prices): |
9.1% (2007 est.)
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Investment (gross fixed): |
23.4% of GDP (2007 est.)
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Several prominent economists have quoted Mauritius as being an economic miracle. Despite its insularity and small size and limited natural resources, Mauritius has been able to diversify itself from a single pillar agrarian economy to a robust multi-pillar economy. The average economic growth rate of the island for the last 30 years is close to 5%.
Since independence in 1968, Mauritius has developed itself from a low-income, agrarian economy to a middle-income diversified economy with growing industrial, financial services, and tourism sectors. Mauritius has also been able to develop in a relatively short time span a flourishing IT-enabled services sector primarily based on activities like call centre, Business process outsourcing and software development. Over the last 8 years, this sector has been growing exponentially.
By leveraging on its highly literate workforce, Mauritius is now diversifying its economic base and transforming itself into a multi-pillar economy. The growth rate for year 2008 is forecasted to be nearly 8 %.
The rapid pace of development of Mauritius is due to sound economic management, strong institutions, a clearly defined development policy and a strong partnership among government, business community and civil society.
The emerging sectors include:
- Property Development
- Media and Entertainment
- Marine and Land Based oceanic industry
- Biomedical and R&D
- Knowledge
- Seafood
- Creative Industry
In addition, significant reforms have been introduced in view of considerably improving the investment climate and ease of doing business.
MAURITIUS TOURISM INDUSTRY
Mauritius has over the years built itself the reputation of being an up-market tourism destination. The island has earned international recognition as a choice tourism destination for its welcoming and genuine hospitality, scenic splendour and world class hotels and golf courses, marinas and integrated developments. In year 2007, Mauritius hosted nearly 1 Million tourists and revenue earnings from the tourism industry representing nearly 1 Bn euros. From 2006 to 2007, tourist arrivals increased by 15 % while earnings from the tourism industry increased by 27 %.
The table below shows the evolution of tourist arrivals and earnings from the tourism industry.
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1998 |
2000 |
2002 |
2004 |
2006 |
2007 |
Tourist Arrivals |
558,195 |
656,453 |
681,648 |
718,861 |
788,276 |
906,971
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Tourist Earnings
(MUR Million) |
11,890 |
14,234 |
18,328 |
23,448 |
31,942 |
40,687 |
Source: Bank of Mauritius
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