mauritius capital:
Mauritius Capital is in Southern Africa, island in the Indian Ocean; about 900 kilometers (560 mi) east of Madagascar Mauritius became independent from the UK in 1968. It has a total area of 1,860 square kilometers and has a population of approximately 136,000.Economic Status In Mauritius: Mauritius has one of the most successful and competitive economies in Africa; 2010 GDP at market prices was estimated at $9.5 billion and per capita income at $7,420, one of the highest in Africa. The economy is based on tourism, textiles, sugar, and financial services. In recent years, information and communication technology, seafood, hospitality and property development, healthcare, renewable energy, and education
and training have emerged as important sectors, attracting substantial investment from both local and foreign investors.
and training have emerged as important sectors, attracting substantial investment from both local and foreign investors.
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%, far above the sub-Saharan African average.
Economic Growth in 2010
According to CSO figures, GDP grew by 4.2% in 2010 which compares favourably with the 3.1% growth attained in 2009. Exclusive of sugar, the rate works out to 4.2% compared to 2.9% in 2009.
Economic Private Sector:
Mauritius has a long tradition of private entrepreneurship, which has led to a strong and dynamic private sector. Government policy is to act as a facilitator to business, leaving production to the private sector. However, it still controls key utility services, including electricity, water, waste water, postal services, and television broadcasting.
Mauritius, tourism is one of the most important pillars of the economy contributing significantly to economic growth and has been a key factor in the overall development of Mauritius. In the past two decades tourist arrivals increased at an average annual rate of 9 %.
Offshore banks provide access to politically and economically stable jurisdictions. This may be an advantage for those residents in areas where there is a risk of political turmoil who fear their assets may be frozen, seized or disappear. However, developed countries with regulated banking systems offer the same advantages in terms of stability.
Main Focus on Tourism in Mauritius:
Mauritius is predominantly a holiday destination for beach-resort tourists. It possesses a wide range of natural and man-made attractions, enjoys a sub-tropical climate with clear warm sea waters, attractive beaches, tropical fauna and flora complemented by a multi-ethnic and cultural population that is friendly and welcoming. These tourism assets are, its main strength, especially since they are backed up by well-designed and run hotels, and reliable and operational services and infrastructures.
The good reasons for visiting the fantastic island paradise of Mauritius: |
Ø Minimal Time Difference Ø No Vaccinations Required Ø Many Fast and Convenient Flights Ø Air Mauritius Ø Fascinating Cultural Diversity Ø Beautiful Beaches in Mauritius Ø Mauritians are a Friendly, Hospitable People Ø Hotels Offering Incomparable Value for Money |
Contribution of Service Sector in Economies of Mauritius Capital:
- Wholesale and retail trade, restaurants, and hotels
- Financing, insurance, real estate, and business services
- Transport, storage, and communication.
The ranking of the first subsector reflects the high level of importance of tourism in Mauritius. The other two subsectors consist of producer services, and their ranking indicates the importance of a whole range of complementary services required to support economic growth and development.
The services sector also offered more employment opportunities than either agriculture or manufacturing. At present, services provide around 60 percent of total employment in large establishments.
Total trade in goods (exports plus imports) in fact grew much faster than total trade in services in spite of the rapid expansion of the tourist sector. However, this trend has been reversed as from the early 1990s.
At present Mauritius is diversifying more towards the financial services and tourism. The Mauritian economy is mainly driven by the tertiary sector which generates close to 70 per cent of GDP. That sector grew by 6 percent in 2008, slightly lower than the 6.7 per cent rate for 2007. Tourism has been an important engine of the country’s sustained economic growth. However, the picture of the Mauritian tourism industry in 2008 is quite different from that of previous years.
Government contribution to increase service Sector in Mauritius Capital:
The Mauritius Government expects 2 millions tourist arrivals per annum by 2015.So, a new strategy of development has been defined called “opening of the sky” marketing action plan to develop new markets ,ambitious programme of building with the increase of the number of rooms and the launching of numerous Integrated Resort Scheme and the organization of international cultural events. Tourism to Mauritius has experienced consistent growth in recent years. The number of international tourist arrivals increased from 422,463 in 1995 to more than 788 00 in 2006.
Priority Tourism Investment Sectors Have Been Identified as Follows:
- Leisure
- Establishment and management of hotels and other tourist accommodation,
- New beach resorts
- Middle market family hotels
- Inland lodges
- Golf estates
- Integrated resorts with hotels, housing, marinas, golf;
- Boutique hotels
- Luxury self-catering.
- Spa complexes and health and therapeutically centers.
- Marinas.
- Adventure and nature activities – carting, driving ranges, parasailing, bungee jumping, parachuting.
- Indoor entertainment complexes and amusement/theme parks.
- Support services such as hotel management institutes and training centers for the hospitality industry.
On the above discussion we find out that Mauritius economy is increase on the basis of private and public sector. All the private sector and public sector are proper use of their assets in mauritius capital.
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