Mauritian History and Economy

A stable democracy with regular free elections and a positive human rights record, the country has attracted considerable foreign investment and has earned one of Africa’s highest per capita incomes.

Although known to Arab and Malay sailors as early as the 10th Century, Mauritius was first explored by the Portuguese in the 16th Century and subsequently settled by the Dutch in the 17th Century. The French assumed control in 1715, developing the island into an important naval base before the British captured the island in 1810 during the Napoleonic Wars. Mauritius played an important role during World War II for anti-submarine and convoy operations. Independence from the UK was attained in 1968.

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.

Annual growth has been in the main in the order of 5% to 6%. This achievement has been reflected in more equitable income distribution,increased life expectancy, lowered infant mortality, and and ever improving infrastructure.

The economy relies on sugar, tourism, textiles and apparel, and financial services, and is expanding into fish processing, information and communications technology, hospitality and property development. Sugarcane is grown on about 90% of the cultivatedland area and accounts for 15% of export earnings.

The government’s development strategy centres on creating vertical and horizontal clusters of development in these sectors. Mauritius has attracted more than 32,000 offshore entities, many aimed at commerce in India, South Africa, and China. Investment in the banking sector alone has reached over $1 billion.

Mauritius, with its strong textile sector, has been well poised to take advantage of the Africa Growth and Opportunity Act (AGOA).Mauritius’ sound economic policies and prudent banking practices helped to mitigate negative effects from the global financial crisis in 2008-09. GDP grew more than 4% per year in 2010-11, and the country continues to expand its trade and investment outreach around the globe