Luxury property boosts Mauritius FDI inflows to $503m

Foreign direct investment inflows to the tourism-dependent nation of Mauritius rose 27% to 23.1 billion rupees ($503 million) in the nine months through September from a year ago, led by higher property sales.

Real estate activities accounted for 69% of total foreign investments. Inflows to the sector reached 15.85 billion rupees, a 59% surge year-on-year. Sales of luxury residential units to foreigners advanced by a third to 10.24 billion rupees, the Port Louis-based Bank of Mauritius said in a statement.

Investments toward accommodation and food services activities more than doubled to 2.48 billion rupees, according to preliminary data from the Port Louis-based central bank.

ADVERTISEMENT

CONTINUE READING BELOW

The investment inflows add to tourism revenue and exports of manufactured goods, key sources of foreign currency to the Indian Ocean island nation. Europe is the top source of foreign direct investments, led by France.

© 2024 Bloomberg L.P.

William Murphy

Related post