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 embarked on a multi-sector reform agenda in 2006 with the objective of improving the competitiveness of the economy. These reforms had considerable success in accelerating the rate of growth, reducing unemployment and speeding up the pace of diversification of the economy through the development of new sectors. The reforms created fiscal space to allow the authorities to perform a comprehensive, well-targeted, and temporary counter-cyclical policy in early 2009 to mitigate the negative impacts of the global financial crisis. The fiscal stimulus contributed to absorb the shock of the 2007/08 global crisis, which was reinforced in August 2010, with a second four percent of GDP stimulus package to cushion the impact of the European sovereign-debt crisis. Since 2010, the government embarked on a second generation reform program to continue improving Mauritius’ competitiveness as it transitions to more diversified export markets, ensuring also that inclusive growth reaches the entire population. 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.
Mauritius has one of the most stable and successful economies in Africa and is ranked high in terms of
