Mauritius

Economy

Main article: Economy of Mauritius

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Since independence in 1968, 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 the period, annual growth has been of the order of 5% to 6%. This remarkable achievement has been reflected in increased life expectancy, lowered infant mortality and a much improved infrastructure.

Related Topics:
1968 - Agriculturally - Tourist - Infrastructure

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Sugar cane is grown on about 90% of the cultivated land area and accounts for 25% of export earnings. However, a record-setting drought severely damaged the sugar crop in 1999. The government's development strategy centres on foreign investment. Mauritius has attracted more than 9,000 offshore entities; many aimed at commerce in India and South Africa while investment in the banking sector alone has reached over USD 1 billion. Economic performance during the period from 2000 through 2004 combined strong economic growth with unemployment at 7.6% in December 2004.

Related Topics:
Sugar cane - 1999 - India - South Africa - Banking

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On the 4th of April 2005 during his budget speech, Hon. Pravind Jugnauth, Deputy Prime Minister and Minister of Finance and Economic Development announced that Mauritius will become a duty-free island and that will take about 4 years. Duty has been decreased (and for many products completely eliminated) for more than 1850 products including clothing, food, jewellery, photographic equipment, audio visual equipment, lighting equipment etc.

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The main motivations are (1) Attract more tourists going to Singapore and Dubai, and, (2) Give all Mauritians easier access to quality products at affordable prices.

Related Topics:
Singapore - Dubai

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A plan by ADB Networks calls for Mauritius to become the first nation to have coast-to-coast wireless internet access. The wireless "hot spot" currently covers about 60% of the island and is accessible by about 70% of its population. By year's end antennas should provide access to 90% of the island.

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