Ile Maurice, Mauritius Hotels and City Guide

Ile Maurice - Business Tips

Local Economy

With a stable government operating a free market economy and sensible banking practices, Mauritius was able to weather the global financial crisis of 2008-9. Indeed, it has grown during 2011 mainly due to a burgeoning tourist industry attracting nearly a million visitors a year with concomitant luxury property development, and remains one of Africa’s most successful economies. It boasts five of the world’s top luxury hotels.

When the Export Processing Zones Act (EPZ) was promulgated in November 1970 by boosting export orientated companies, the Mauritian economy diversified and improved as it allowed goods to be imported duty-free to be used in manufacturing goods for export. This provided employment and attracted foreign investment. Its offshore and free-port sectors permitted foreigners to purchase property in Mauritius.

Sugar, introduced by the Dutch in the 17th century and until the 1970s the mainstay of the economy, diminished in importance after EPZ, but the cane industry is still alive and well. It remains the country’s main crop covering 80% of the arable land and responsible for 63% of the island’s agricultural exports. Mauritius produces raw and refined sugar, bagasse, ethanol and specialty sugars such as demerara and muscovado.

The country now focuses on offshore enterprises rather than traditional agriculture. Offshore facilities include banking, insurance, shipping, aircraft financing, licensing, data processing and IT services, pension funds, asset management and more. The Mauritius Board of Investment actively promotes international investment in Mauritius, thereby attracting business talent. The country’s IT sector is highly sophisticated with an excellent telecommunication network providing a speedy Internet connection. ‘Cyber Island’ is already being used to describe Mauritius.

The textile industry is a pillar of the economy, manufacturing high-quality designer-label clothing for export to leading retailers in Europe and the USA. Other exports include canned tuna, jewellery, travel goods and handbags. Mauritius also manufactures light engineering goods, electronics, optical goods, pharmaceuticals, jewellery, plastics and has printing and publishing companies. Tropical flowers are exported to Europe, Asia, Australia and the USA, while tropical fruits are exported to the EU.

Imports include manufactured goods, capital equipment, foodstuffs, petroleum products, chemicals, meat, dairy produce, wheat flour, rice, vegetable oil, iron and steel, cement, fertilizers, and raw materials for its textile industry. Major import partners are India, France, South Africa, China, Japan, Spain, Italy, Germany, Malaysia and Thailand.

South Africa is Mauritius’s major trading partner while the country has strong historical and commercial ties with India.

The University of Mauritius in Reduit has faculties of Agriculture, Social Studies & Humanities, Law & Management, Science, Engineering, and a Centre of Information Technology and Systems. There is also a University of Mauritius Medical School and a University of Technology. Mauritius has an enviable 80+% literacy rate.

The International Conference Centre is situated in Grand Baie and the Freeport Exhibition Centre in Mer Rouge. Most large hotels have conference facilities. A Stock Exchange was established in 1989.

Business Etiquette

Business hours: Mon-Fri 0900-1730; Sat 0900-1200.

English is the language of business. Meetings should be arranged in advance. Be punctual and shake hands on meeting. Business cards are exchanged at the end of meetings. Business entertaining consists of lunches or dinners. He who suggests it, foots the bill.

Dress smartly and conservatively, usually in a lightweight suit, bearing in mind the multi-ethnic society. A more casual dress code applies in the IT profession.

Hotels in Ile Maurice, Mauritius