
Why Europeans are investing heavily in Mauritius: Key insights for Belgian expats
Amid global uncertainty, Mauritius continues to demonstrate its appeal to investors, particularly in the real estate sector. While foreign direct investment (FDI) saw a slight overall decline in 2024, key economic indicators remain strong, especially for European investors. For Belgians considering a move to Mauritius, these trends signal stability, promising investment opportunities, and a welcoming environment for relocation. Magellan, a firm specializing in relocation advice, unpacks the dynamics at play.
Promising sectors despite a moderate decline
In 2024, Mauritius recorded MUR 32.9 billion in foreign direct investment (FDI), down from MUR 37 billion the previous year—an 11% decrease. This decline mirrors global trends shaped by inflation, geopolitical tensions, and the effects of climate change. Despite this, several key sectors remain resilient, notably real estate, financial services, industry, and energy.
The Mauritian real estate sector—long favored by foreign investors—posted strong growth, with investments rising from MUR 21.1 billion in 2023 to MUR 23.9 billion in 2024. This reflects continued, and possibly increasing, interest in property acquisition opportunities available to non-citizens. Government-approved schemes such as the Property Development Scheme (PDS), Integrated Resort Scheme (IRS), and Smart City Scheme alone attracted MUR 18.6 billion, marking a year-on-year increase of over 33%.
A real estate market open to foreigners
Mauritius provides a clear and secure legal framework for foreign nationals seeking to invest in property. Purchasing real estate through schemes such as the Property Development Scheme (PDS) or the Smart City Scheme grants not only full ownership but also eligibility for a residence permit, subject to a minimum investment of USD 375,000.
This structure appeals to international buyers drawn by favorable tax conditions, a high quality of life, and a reliable healthcare system. For Belgian expatriates, it presents an opportunity to settle in Mauritius on a long-term basis while securing a stable investment, whether for personal residence or rental income.
Europe leading as a source of investment is a sign of confidence
Europe remains the leading source of foreign direct investment (FDI) in Mauritius. In 2024, European investors injected MUR 19.5 billion into the economy, up from MUR 17.7 billion in 2023. France tops the list, contributing MUR 9.3 billion—a MUR 6.9 billion increase from the previous year.
This trend underscores the cultural, legal, and economic closeness between Mauritius and French-speaking Europe. For Belgian nationals, it enhances administrative compatibility and simplifies the process of relocation or property acquisition. The widespread use of French across the island is another advantage for expats from Wallonia and Brussels in particular.
By contrast, U.S. investment fell sharply—from MUR 6.9 billion to just MUR 884 million—reflecting a strategic reorientation of Mauritius toward Europe and Africa. Notably, South Africa emerged as the second-largest investor after France, increasing its stake to MUR 4.6 billion in 2024.
Opportunities in emerging growth sectors
While real estate remains a cornerstone of foreign investment, other sectors are rapidly gaining traction. In 2024, financial and insurance services attracted MUR 974 million in FDI, up sharply from MUR 129 million in 2023. This surge reflects the government’s commitment to positioning Mauritius as a regional financial hub.
Industry also saw renewed interest, securing MUR 335 million in investment, more than double the previous year’s figure. The energy sector, propelled by growing demand and climate-related pressures, matched that amount with MUR 335 million. These gains highlight the rise of new sectors where skilled expatriates and entrepreneurs can find real opportunities.
Mauritius presents a promising environment for growth and innovation for Belgian professionals with expertise in engineering, finance, sustainable construction, or emerging technologies. Though the domestic market is relatively small, its strategic location offers access to African, Asian, and regional markets, including Réunion Island and Madagascar.
A dynamic of exchange and regional influence
Outbound foreign direct investment (FDI) from Mauritius also increased in 2024, reaching MUR 3.3 billion. These investments were primarily directed toward the manufacturing, financial services, and real estate sectors, with key destinations including Réunion Island, India, and France.
This trend reinforces Mauritius’s dual role as both an attractive destination for investment and a launchpad for regional business expansion. For Belgian entrepreneurs, it presents an opportunity to broaden their footprint beyond Mauritius, leveraging the island’s strategic location and strong diplomatic ties.
Tax benefits and quality of life: Key incentives
Beyond investment figures, Mauritius remains attractive thanks to its simple and advantageous tax regime. Personal income tax is capped at 15%, and there is no property tax or wealth tax. The country’s modern, stable banking system is well integrated into international financial networks.
Every day life in Mauritius also holds strong appeal. The island offers a tropical climate, reliable healthcare, French-speaking and international schools, a growing road network, and widespread high-speed internet access. Its welcoming population, relaxed lifestyle, and reputation for safety further enhance its desirability.
For Belgian nationals, relocation is facilitated by mutual recognition of administrative documents, a shared language, and an already well-established expat community.
The bottom line: Mauritius is a highly competitive destination for Belgians
Despite a slight overall decline in foreign investment, the latest data confirms that Mauritius remains a trusted destination for European investors. Real estate continues to thrive, and emerging sectors offer new opportunities for ambitious project leaders.
For Belgians considering expatriation, these trends reinforce the island’s growing appeal. With its combination of legal stability, favorable taxation, and high quality of life, Mauritius stands out as a strategic choice for investing, launching a business, or simply enjoying life in a tropical setting. Contact Magellan to make your relocation to Mauritius as smooth as possible.
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