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Mauritius remains a magnet for affluent individuals

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Mauritius remains a magnet for affluent individuals

Mauritius stands out as a top choice for affluent individuals

Mauritius has solidified its status as the preferred destination for the world’s wealthiest individuals, as affirmed by two international reports.

According to KPMG’s Doing Deals in Sub-Saharan Africa 2023, 14 % of senior executives opt for Mauritius as their choice for acquisitions or investments. This places the island nation, with its population of 1.3 million, on par with Kenya and Ghana and just behind South Africa, Nigeria, and Tanzania in terms of preference.

Additionally, Henley & Partners’ Africa Wealth Report 2023 highlights Mauritius as the emerging hub for permanent residency among the super-rich. Among the 1,200 high net worth individuals who migrated to Africa in the past decade, Mauritius stands out as the preferred destination. The report predicts that the number of millionaires in Mauritius will surpass 8,500 in the next decade, compared to the current figure of 4,900.

L. Amédée Darga, President of the Mauritius Africa Business Club, emphasizes Mauritius’s relentless pursuit of growth and increased per capita income levels. He notes that the country has consistently diversified its economy, resulting in significant socio-economic advancements. Notably, Mauritius has witnessed a doubling of per capita income since 2005, reaching 10,545 USD last year.

Despite challenges posed by the COVID-19 pandemic, Mauritius has displayed resilience and recovery. The country has rebounded strongly, with GDP growth hitting 8.5 % last year, marking the fastest growth in 35 years. As Mauritius continues to diversify its economy beyond its traditional pillars of tourism, agriculture, trade, and financial services, its appeal as a destination for the affluent remains robust.

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