Economy

Sugarcane plantation. Main articles: Economy of Mauritius and Mauritian rupee

Since independence in 1968, Mauritius has developed from a low-income, agriculture-based economy to a middle-income diversified economy. 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. Mauritius has no exploitable natural resources and therefore depends on imported petroleum products to meet most of its energy requirements. Local and renewable energy sources are biomass, hydro, solar and wind energy. Mauritius has one of the largest Exclusive Economic Zones in the world, in 2012 the government announced its intention to develop the Ocean Economy.

Artist's impression of the Neotown development in Port Louis.

Mauritius is ranked high in terms of competitiveness, investment climate, governance and freest economy, the Gross Domestic Product (PPP) estimate was at $20.200 billion and GDP (PPP) per capita income over $15,591 in 2012, one of the highest in Africa. Mauritius has an upper middle income economy, according to the World Bank in 2011. For the fifth consecutive year, the World Bank's 2013 Ease of Doing Business report ranks Mauritius first among African economies and 19th worldwide out of 183 economies in terms of ease of doing business. Mauritius has built its success on a free market economy, according to the 2012 Index of Economic Freedom, Mauritius is ranked eighth worldwide. The report's ranking of 183 countries is based on measures of economic openness, regulatory efficiency, rule of law, and competitiveness.

Port Louis, the capital city.

The rupee (sign: ₨; ISO 4217 code: MUR) is the currency of Mauritius. It is theoretically divided into 100 cents; however, as at October 2011, only 5 and 20 cent coins, are currently in circulation, the latest mintage of these two coins was in 2010. A Half Rupee coin is also in circulation. The rupee was established by law in 1876 as the local currency of Mauritius. The rupee was chosen due to the massive inflow of Indian rupees following Indian immigration to Mauritius. The Mauritian rupee was introduced in 1877, replacing the Indian rupee, sterling and the Mauritian dollar, with the Mauritian rupee equal to one Indian rupee or half a Mauritian dollar. The pound was worth 10¼ rupees at that time. The Mauritian currency also circulated in the Seychelles until 1914, when it was replaced by the Seychellois rupee at par. In 1934, a peg to sterling replaced the peg to the Indian rupee, at the rate of 1 rupee = 1 shilling 6 pence (the rate at which the Indian rupee was also pegged). This rate, equivalent to 13⅓ rupees = 1 pound, was maintained until 1979.

Tourism Seven Coloured Earths at Chamarel. Main article: Tourism in Mauritius See also: Hotels in Mauritius

Mauritius is one of the world's top luxury tourism destinations. It possesses a wide range of natural and man-made attractions, enjoys a 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. Mauritius received the World Leading island Destination award for the third time and World's Best Beach at the World Travel Awards in January 2012. Mauritius has also one of the highest rates of returning tourism visitors in the world.

Transportation Main article: Transport in Mauritius

Transport in Mauritius has been free for students, the disabled and seniors since July 2005. There are currently no railways in Mauritius, there were previously industrial railways, but these have been abandoned. To cope with increasing road traffic congestion, a Light Rail Transit system has been proposed between Curepipe and Port Louis. The main harbour where international trade is handled and Cruise Terminal is found at Port Louis. The main airport is Sir Seewoosagur Ramgoolam International Airport, the home of the national airline Air Mauritius, a new passenger terminal is currently under construction and will be operational in April 2013.