September 5, 2017 / 3:12 PM / a year ago

Foreign direct investment into Mauritius up 22 pct in H1-central bank

PORT LOUIS, Sept 5 (Reuters) - Foreign direct investment in Mauritius grew by 22 percent in the first half of 2017 to 9.72 billion rupees ($295 million), driven by inflows into real estate, financial activities and insurance, official data showed on Tuesday.

Foreign investment in real estate led with 5.32 billion rupees followed by financial and insurance activities with 3.12 billion rupees, the central bank said.

“Nearly a third of the direct investment inflows originated from Luxembourg (3.25 billion rupees), while those from France and South Africa amounted to 2.47 billion rupees and 1.07 billion rupees, respectively,” the bank said in a statement.

Famed for its white sandy beaches and luxury spas, the Indian Ocean island nation is diversifying its economy away from sugar, textiles and tourism into offshore banking, business outsourcing, luxury real estate and medical tourism. ($1 = 32.9000 Mauritius rupees) (Reporting by Jean Paul Arouff; Editing by George Obulutsa and Dale Hudson)

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