Four award-winning reasons to move to Mauritius

Travel industry professionals and the public voted Mauritius best in four categories at the World Travel Awards (WTA) 2023 for the Indian Ocean region, reaffirming its status as its most beloved destination.

What locals lovingly refer to as their paradise island won four prestigious awards: Best Adventure Tourism Destination in the Indian Ocean, Best Wedding Destination in the Indian Ocean, Best Sustainable Tourism Destination in the Indian Ocean and Best Cruise Destination in the Indian Ocean. Read more on mauritiusnow.com 

This is largely thanks to its dense tropical forests, enticing waterfalls, particular wildlife, volcanic mountains, and palm-fringed white sand beaches, providing an enchanting natural environment for first-class luxury resorts and real estate to shine. Coupled with romantic surroundings and a commitment to sustainable tourism, Mauritius has a winning formula duly celebrated at the WTA, considered the world’s most prestigious tourism awards programme.

Immersive experiences

“We are honoured by this recognition of excellence and proud to have won these four awards. Mauritius offers a wide range of immersive experiences and is much more than an island; it is an island nation that caters to a diverse range of tourism segments,” says Arvind Bundhun, Director of the Mauritius Tourism Promotion Authority (MTPA).

Winning accolades in multiple categories at the WTAs is a remarkable accomplishment for local tourism, underscoring the sector’s resilience.

“It is important that we continue to promote our unique tourism offering so that Mauritius retains its status as a destination of choice. These awards will help us to shine on the international stage while stimulating growth,” adds Bundhun.

Meanwhile, Graham Cooke, WTA founder, says: “The interest generated by the World Travel Awards 2023 demonstrates that the appetite for travel and tourism has never been stronger. This bodes well for the future of the industry. The winners represent the very best of travel and tourism in the Indian Ocean, and I congratulate every one of them. They have all shown remarkable resilience in these difficult times.”

Destination of choice

Numerous visitors flock to Mauritius each year, enticed by its warm cerulean sea, lush tropical beauty, and upscale hotels. Those captivated by the island’s charm often plan return trips. Its tax-friendly policies, top-notch healthcare, high quality of life, global connectivity, superior amenities, robust infrastructure and services, diversified economy, dynamic business environment, political stability, and overall safety attract them.

Additionally, the allure extends to diverse investment properties set in a safe and secure environment.

The government refrains from taxing wealth, inheritance, dividends or capital gains, adopting a progressive tax rate of 10% to 15%. Income earned by a retired individual, their spouse, or common-law partner outside of Mauritius in the preceding five years is exempt from income tax.

Africa’s happiest country

Living in a stunning place that evokes a joyous tune from your heart is a dream many share. Especially when you reach a point in life where you can choose where, how, and what you want to do.

Opting for Mauritius as your preferred residence from age 50 onwards – considered the ideal retirement age by the island’s government – might just be the most rewarding decision you ever make. The emphasis here is not on retiring but refiring, given the profound impact of the environment, ambience, culture, and people who embody the philosophy of “don’t worry, be happy.” Unsurprisingly, this Indian Ocean gem ranks highest among African countries (59th out of 137 countries) listed in the World Happiness Report 2023 based on a three-year average from 2020 to 2022. Additionally, in the latest ranking by Le Figaro, Mauritius was recognised as the fourth-best country in the world for retirement.

According to the Economic Development Board (EDB), the government’s national investment promotion agency in Mauritius, 40% of retirees engage in various business ventures on the island. These endeavours often diverge from their original training, encompassing sectors such as real estate, hospitality, financial services, information and communication technology (ICT), and health and education.

The fastest growing market for centi-millionaires

The recent Centi-millionaire Report published by Henley & Partners in collaboration with New World Wealth highlights the large-scale migration of centi-millionaires and the expectation of this trend to continue over the coming decade.

The authors project their relocation to countries like Australia, New Zealand, and Switzerland, commonly recognised as safe haven markets. Additionally, Mediterranean countries are anticipated to gain popularity, as well as business-friendly nations like Mauritius. The latter is likely to be one of the fastest growing markets for centi-millionaires over the next decade (2022 to 2032), with significant growth expected in the local financial services sector, especially.

Various factors driving this migration encompass financial considerations, safety and crime rates, lifestyle preferences such as climate, nature, scenery, opportunities for work, business, and education, tax considerations, healthcare quality, and overall standard of living.

In the 2020s, the figure qualifying somebody as a centi-millionaire is around USD 100 million. According to the report, there are only 25,490 centi-millionaires in the world (as of June 2022), and they are typically the founders of successful companies or the CEOs of large multinational organisations.

“The migration of wealthy people into a country helps to build its wealth and has been instrumental in boosting wealth in several high-income markets over the past 20 years, including the likes of Australia, Malta, Mauritius, Monaco, and the UAE,” states the report.

Top pursuits of the super-wealthy

The Mauritius Residence by Investment Programme is an attractive prospect for these and other individuals who wish to secure permanent residence for themselves and their families. “The more diversified your investment migration portfolio is, the more opportunities you can take advantage of, and the less exposed you and your family will be to regional and global volatility. Having just a plan B is no longer enough. Our clients now seek a plan B, C, and even D.

Based on New World Wealth’s in-house high-net-worth individuals database findings, golf, cycling and mountain biking, fishing, yachting, and sailing are all in the top 10 pursuits of the super-wealthy, all of which are extremely popular in Mauritius.

New World Wealth is the only independent wealth research firm systematically tracking global private wealth migration trends between countries and cities. Henley & Partners holds the distinction of being the global leader in residence and citizenship through investment.