During 2013, the IMF expects the GDP of Mauritius to grow additional 3.7%, up from 3.3% compared to last year’s growth. Martin Petri, IMF mission Chief, commented that this increase “will be fuelled by strong growth in fisheries, information and communication technology and financial services”.
In an attempt to depend less on Europe, the nation has been “branching into information technology, business outsourcing and offshore banking”. The economy of Mauritius depends largely upon European Tourism, its primary source of revenue, which provides 2/3 of all tourists to the country. Additionally, Europe acts as a major market for the country’s textiles and also “sugar and services industry”.
It will be interesting to see how the economy of Mauritius will rely less upon Europe and more upon the nation’s growth in other areas.
For the full article, please click here: http://www.reuters.com/article/2013/01/30/mauritius-economy-imf-idUSL5N0AZ1TX20130130