Moody’s, the American credit rating agency has predicted, in its new Banking System Brief that Mauritius is expected to register a growth of 3.9% in 2018. This figure proves that the island’s economy is thriving and that it is trusted by foreign investors, whose numbers are growing year in year out. This good trend is the result of the great display of the tourism industry and the foreign direct investment in the real estate sector. Moody’s even states that the renegotiation of the double treaty agreement between Port-Louis and New Delhi will not affect the GDP growth.
For Moody’s, the government’s strategy as regards to the diversification of the economy and given the trend of the foreign direct investments coming from Eastern and Asian countries will keep strengthening the country’s economy. The Construction Industry Development Board (CIDB) predicts that the growth in the construction and real estate sector might reach 9.5% at the end of this year. This is regarded as a realistic objective given that the investments in the construction and real estate industries have registered in 2017 a growth of 6.8%.
The Mauritian government acknowledges Moody’s, “maintains proactive policies that support growth and an adaptive economy”. A welcomed compliment at a time where Mauritius is trying hard to attract investors in unexplored markets. A strategy which will no doubt be proved successful in the long term and the opportunities in the Mauritian real estate sector will gain visibility.