2024 Mauritius Investment Trends : Real Estate Soars, Tech Dives

Foreign Direct Investment (FDI) in Mauritius saw a significant increase in the real estate sector while experiencing a downturn in technology and science sectors during the first half of 2024. According to preliminary figures released last week by the Bank of Mauritius, total FDI reached Rs 15.9 billion in this period, up from Rs 13.5 billion in the same timeframe last year.

The real estate sector emerged as the primary beneficiary of this investment influx, largely attributed to various schemes including the Integrated Resort Scheme, Real Estate Scheme, Invest Hotel Scheme, Property Development Scheme, and Smart City Scheme.

South Africa and France remain the leading sources of FDI in the country.

In the first half of 2024, the real estate sector attracted Rs 11 billion in FDI, a notable increase from Rs 8.6 billion recorded during the same period in 2023.

The Accommodation and Food Service Activities sector followed with investments totaling Rs 1.1 billion, although this figure marked a decline compared to the Rs 1.6 billion registered the previous year.

The data also highlighted significant growth in other sectors.

The agricultural, forestry, and fishing sector attracted Rs 503 million this year, a considerable rise from just Rs 5 million last year.

Similarly, the Electricity, Gas, Steam, and Air Conditioning Supply sector saw investments increase from Rs 34 million in the first half of 2023 to Rs 195 million in 2024.

The construction sector enjoyed a rise in FDI as well, bringing in Rs 19 million compared to Rs 5 million the year prior.

However, the water, sanitation, and waste management sector did not register any FDI in the first six months of 2024, a stark contrast to the Rs 28 million it received during the same period in 2023.

The Human Health and Social Work Activities sector also saw its FDI plummet to zero in 2024, having secured Rs 11 million the previous year.

On a more positive note, the Financial and Insurance Activities sector reported significant investment growth, attracting Rs 229 million in the first half of 2024, up from Rs 64 million during the same period in 2023.

Conversely, a substantial decrease was recorded in the Information and Communication sector, which fell from Rs 669 million in 2023 to just Rs 112 million in 2024.

The Professional, Scientific, and Technical Activities sector also experienced a decline, garnering only Rs 55 million compared to Rs 104 million last year.

The downward trend continued in the Administrative and Support Service Activities sector, where FDI plummeted from Rs 369 million in the first half of 2023 to just Rs 37 million in 2024.

Regarding FDI sources, developed countries led the way, contributing Rs 10 billion in the first half of 2024, up from Rs 7 billion during the same period in 2023.

Europe accounted for Rs 9.9 billion of this total, compared to Rs 7.2 billion the previous year. France was the top investor, injecting Rs 5 billion in FDI in the first six months of 2024, a jump from Rs 2.8 billion last year.

Switzerland also saw a substantial increase, with investments rising from Rs 293 million in the first half of 2023 to Rs 1.1 billion in 2024.

In contrast, Belgian investments were cut in half, dropping from Rs 468 million in 2023 to Rs 224 million in 2024.

Luxembourg also witnessed a decline, with FDI decreasing from Rs 96 million in 2023 to Rs 12 million in 2024.

The UK experienced a significant drop in investments, going from Rs 1 billion in the first half of 2023 to Rs 466 million during the same period in 2024.

Among African nations, South Africa stood out, investing Rs 2.4 billion in the first half of 2024, up from Rs 1.8 billion the previous year.

However, FDI from developing economies decreased by Rs 800 million, falling from Rs 3.8 billion in 2023 to Rs 3 billion in 2024.

Source: l’Express