Mauritius is the best performing wealth market in Africa, claims report

  • July 25, 2018

Mauritius is the richest country in Africa, with total wealth held in the country now amounting to US$43 billion (R567 billion), while per capita wealth (average wealth per person) stands at US$33,000 (R435 138.00) as per a 10-year wealth growth study (2007-2017) by the New World Health and AfrAsia Bank.

Over the past 10 years, total wealth held in Mauritius has risen by 195% (in US$ terms). This also makes Mauritius the world’s third best performing wealth market, next only to Vietnam and China.

According to Business Report, the reasons for wealth growth in Mauritius include:

  • A thriving financial services sector
  • Well-developed banking system and stock exchange
  • Strong Foreign Direct Investment (FDI) inflows
  • Secure ownership rights – the most critical component of successful wealth creation globally
  • Low taxes – company and personal income tax rates are only 15%, with no inheritance or capital gains tax
  • Residents are free to invest overseas with no exchange controls
  • Low level of government regulation in the local business sector
  • Automatic permanent residency if one buys a US$500,000+ home in the country
  • Ease of doing business in the country
  • Low jobless rate and low inflation rate
  • Developed, free media
  • Safety – deemed the safest country in Africa
  • Good schools
  • Rising commercial and residential property prices
  • Access to first class food and produce

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