With South Africans making up 21.7% of the foreign property market, we take a look at what makes Mauritius such an attractive investment destination. As we explore Mauritius at a glance, we can see how this continent’s many facets are so appealing to the South African market, especially as South Africans have had to recently face a ‘junk status’ rating.
Compared to South Africa that boasts a 55,91 million population and 11 official languages, Mauritius is a small country with approximately 1,3 million people, who have only one official language, English. Although it may be small in size, Mauritius has shown tremendous growth as a country.
The stable and budding economy is a huge drawing card for South Africans, especially the wealthy; as there are approximately 3200 USD millionaires living in Mauritius. The success of the economy can be attributed to the diversification of the sectors, such as services that add up to about 73.2%, the industry sector accounts for 22.4% and agriculture 4.5%. The GDP per capita for the upper-middle income is around $11, 000. Furthermore, the Mauritius real GDP growth rate has been a steady 3% – 5.9% since 2006. This is an incredible accomplishment, especially as to date, we see South Africa’s average GDP annual growth rate average only 2.89%.
Other general factors that come into play, when looking at Mauritius from a South African perspective, is that there is a high employment rate of 92%, and about an 89.8% adult literacy rate.
At a glance, we can clearly see that Mauritius is getting stronger each year, and achieving incredible results as a country; making it a desirable destination to invest, live and work in.
