Updated 3 months ago

For the longest time, the Mauritian economy was heavily dependent on sugar cane export. Later on, the textile industry was established in Mauritius, and this helped the economy to grow steadily. Nowadays, other growing sectors in Mauritius include technology, tourism, finance, and real estate sectors.

“L’Aventure du Sucre” in Mauritius is a museum which offers a good overview of the island’s economic evolution. The fact that Mauritius stopped exporting sugar could have been harmful to the country’s economy. However, the restructuring and reorganisation of the sugar cane sector and its policies have allowed the country to keep this crucial source of income, by exporting refined sugar as well as other derivatives of sugar, and by using the bagasse to generate electricity. These innovations have been implemented in order to adapt to demands while finding ways to maintain a profitable approach.

In the past few years, Mauritius has been placing more emphasis on the technology industry, attracting international companies thanks to the skilled workforce in Mauritius, the facilities, infrastructures, and the affordable labour costs. The country wants to become a benchmark in the technology industry in this part of the world, which can be seen in the creation of cybercities, the most significant one being the Ébène cybercity. The tourist industry has also made its mark in Mauritius, having acquired an excellent international reputation, contributed heavily to the local economy, and created many new jobs. The tourist industry is continuously developing, due to a rise in real estate development and new air routes. The construction of luxury villas and apartments is impacting the economy positively, as can be seen by foreign investment and new job opportunities. Regarding future efforts, there is an emphasis on blue economy and a balance between sustainability and socio-economic equality.

Currency

The official currency of Mauritius is the Mauritian Rupee (Rs.), and the international code of the rupee is "MUR". The first banknotes in Mauritian Rupees appeared in 1876, and coins made their appearance in 1877. Bank notes are usually issued in denominations of 25, 50, 100, 200, 500, 1,000, and 2,000 rupees, and coins in 1, 5, 10, and 20 rupees and 5, 20, 25, and 50 cents

The Mauritian Rupee can only be exchanged in Mauritius. Foreign Exchange offices are located at the airport, but can also be found in other parts of the island. At the airport, the opening hours depend on the arrival of international flights. You may also exchange currency at banking institutions. Most international bank cards are accepted in Mauritius, and ATMs can be found all over the island.

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