Mauritius is Sub Saharan most competitive economy

The Global Competitiveness Index, released on the 28th September 2016 by the World Economic Forum (WEF) shows Mauritius as sub-Saharan Africa’s most competitive economy. According to WEF, the country was ranked 45th, with a score of 4.49, on the global ranking of 138 countries.

The Indian Ocean Island is followed by South Africa, Rwanda, Botswana and Namibia as top 5 for sub Saharan Africa.

The island nation, which markets itself as a bridge between Africa and Asia, is trying to shift an economy mostly based on sugar, textiles and tourism towards offshore banking, business outsourcing, luxury real estate and medical tourism.

The economy is expected to grow by 3.7 percent this year, from a previous forecast of 3.9 percent in June, due to an expected slowdown in agriculture and manufacturing.

The Index of WEF is an annual assessment of the factors driving productivity and prosperity in 138 countries. The degree to which economies are open to international trade in goods and services is directly linked to both economic growth and a nation’s innovative potential.

Source: World Economic Forum