Mauritius has left no stone unturned in its bid to free the country’s tourism sector from the travel doldrums imposed by COVID-19. Before the pandemic, many foreigners found it wise to invest in luxury rentals because of the strong influx of tourists to the island. Government property programmes such as the Integrated Resort Scheme and G+2 helped facilitate such investments.
In 2019, the gross earnings from tourism in Mauritius hit MUR66 billion, up 3,1% from the MUR64 billion the previous year. Some 1,4 million tourists visit the island annually. That’s more than the country’s population of about 1,3 million.
True, it is unlikely that Mauritius will replicate previous gains from tourism in 2020 because of the travel restrictions due to COVID-19. However, the hospitality sector on the island is preparing for a strong comeback going into 2021, with the solid support it’s getting from the government.
Prospects for a strong tourism rebound bode well for high-end rentals.
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Strong tailwinds for tourism
The government’s 2020-2021 budget spelt out wide-ranging measures to boost tourism in Mauritius in the near-term. These measures were announced shortly after the June 1, 2020 lifting of the country’s lockdown to contain the spread of COVID-19. Significantly, Mauritius’s virus containment measures count amongst the most successful worldwide, a big plus in drawing tourists back to the island.
Visitors can have peace of mind on the sanitary protocols that are in place from their arrival to departure. The World Travel & Tourism Council has endorsed these comprehensive health safeguards tailor-made for all tourism-oriented establishments.
Marketing at full throttle
The government is also strengthening the competitiveness of Mauritius’s tourism industry through several measures. Special arrangements are underway at the airport to accommodate high-net-worth individuals arriving via private jets.
Other plans include a new tourism branding strategy that industry stakeholders, such as those who invest in Mauritius rentals, could adopt. Mauritius is likewise tapping the Liverpool Football Club in its promotion efforts starting September 2020. Moreover, the Mauritius Tourism Promotion Authority is planning major events, such as arts and music festivals. Tour operators, travel agents, and international media will be invited to these events.
Where the opportunities are
Houses and apartments for tourist rentals in Mauritius are located mostly in the northern and western parts of the island. Monthly rates for luxury rentals are in the MUR130,000–MUR325,000 (USD3,548–USD8,869) range. The gross rental yields in prime developments, in one industry estimate, range from 3,5 percent to 4 percent.
There are select options for those who want to invest in rental properties. Amongst the properties to focus on are the developments by 2Futures, the no. 1 luxury real estate developer in Mauritius. The company offers several beachfront projects well positioned to capture a generous slice of the tourism fortunes in Mauritius.
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