- September 25, 2023
- Posted by: Aurélie
- Category: Investment
Nestled in the Indian Ocean, Mauritius has been attractive to foreign investors for many years with a wide range of opportunities in various sectors. The Tourism and Hospitality sector is by far one of the most thriving ones, thanks to the island’s strategic location, not to mention its pristine fine sand beaches, as well as its magnificent landscapes and vibrant cultural heritage, which are much sought-after by tourists and expatriates. Let’s have a look at the different ventures guaranteeing flourishing businesses for foreign investors.
Recent reports show that the number of tourist arrivals in Mauritius in 2022 rose by 72.09% compared to pre-pandemic levels. According to projections, this number should increase by at least 90% in the coming months following the recovery of European and emerging markets. Mauritius is expecting 1.3 million tourist arrivals in 2023, which means great potential for investment in the Tourism and Hospitality sector.
Opportunities for foreign investors in the tourism sector
When thinking of tourism, luxury hotels bordered by heavenly beaches are the first things that come to our minds. But there’s much more to it, for example, water sports activities such as scuba diving, snorkeling, sailing, etc. There’s also a growing demand for luxury accommodations and resorts, as well as boutique resorts, from international travelers.
Mauritius, being a multicultural island with a rich historical background, also holds a myriad of opportunities in the field of cultural tourism. Foreign investors can, therefore, tap into programs established to conserve historical sites and promote cultural activities, as well as modern convention and exhibition facilities, not to mention guided tours.
International travelers are also increasingly seeking entertainment options, including casinos, performance venues, recreational facilities, theme parks, etc. Such projects shall contribute to rejuvenating the existing offer, thus compelling tourists to come back for more. Besides, Mauritius is an attractive destination for Golf Tourism, as well as yachting and cruise activities. Foreign investors can tap into opportunities in these sectors for long-term profit-yielding investments.
Ecotourism has gained ground over the past years thanks to the Mauritian government’s efforts to smooth out tourism seasonality. The island is endowed with a multifaceted beauty, which
comprises mountains, valleys, nature parks, rivers and other natural landscapes offering fantastic opportunities for hiking, trekking, quad biking, eco-tours, bird and dolphin watching, as well as ecotourism development such as econ-friendly resorts and chalet residences for eco-conscious and adventure-seeking international travelers.
Over the past decade, Mauritius has also become an attractive medical tourism destination, offering diverse quality treatments in modern medical installations endowed with cutting-edge medical technology and highly skilled health professionals at competitive prices. Thanks to its tropical climate and natural healing resources, the island is the ideal place for the establishment of wellness centers, spa resorts, and other facilities sought after by health-conscious international travelers.
The Invest Hotel Scheme has been set up by the Mauritian government to attract prospective hotel developers and prospective foreign investors keen on funding the construction of new hotels or undertaking the renovation, reconstruction or upgrading of existing hotel structures. This unique scheme gives you the opportunity to not only contribute to the growth of Mauritius’ tourism and hospitality sector but also to become owners of exclusive hotel units. Indeed, potential buyers under the Invest Hotel Scheme can enjoy all the amenities of a luxury resort, including fine dining options, fitness centers and spas, as well as pools, while benefiting from it as a source of income. Owners of these hotel units, or their representatives, can occupy the unity for 45 days maximum within a 12-month period. Foreign investors can also explore leaseback arrangements when investing in such projects.
Thanks to its strategic location at the crossroads of Africa and Asia, Mauritius is the ideal place for business connections. As a regional and financial hub, the island regularly hosts world-class events, such as international conferences, exhibitions, and other meetings. As such, there is an urgent need for high-class business accommodation units, which is another path foreign investors can explore.
Real estate is another lucrative option for foreign investors in Mauritius. Considering the number of tourist arrivals, as well as foreign professionals, international students, foreign retirees, as well as digital nomads choosing Mauritius as their new destination, there is a growing need for real estate projects, including vacation rentals, as well as villas and condominiums that can be rented out for long and short periods. More and more travelers are seeking attractive and well-maintained accommodations in desirable locations, which means high potential returns for foreign investors, especially during peak seasons. It’s worth noting that the Mauritian government provides tax incentives for foreigners looking to invest in the tourism and real estate sectors. It’s also worth noting that the value of your investment may increase over time, so if you’re not yet sure what to choose, do not hesitate to seek professional advice.
Blue Azurite is here to assist you, from choosing your investment avenue to starting your business venture in Mauritius. Get in touch with our team of experts for more detailed information on the prospects available for foreign investors, the benefits of indulging in tourism and hospitality-related activities, and the formalities to be accomplished. We are here to help you thrive in your new business endeavors.