Prospects of economic progress for Mauritius on its 50th Independence
Dr. Nirmal Kumar Betchoo
On the occasion of the 50th anniversary of the Independence of Mauritius, a republic in the Indian Ocean, business prospects for a new economic miracle are constantly being sought. In fact, the island nation’s economic development was linked with two key economic booms known as ‘miracles’ in the mid-1970s and 1980s. These embellishment periods propelled economic growth and advancement for the nation. In recent times, with a growth rate nearing 3.5% and unemployment coming close to a double-digit mark, there are apprehensions of whether embellishment times are ahead or not. In this context, the Mauritius 2030 which aligns with the United Nations Development Programme Millennial goals expects the nation to be a fast technologically-driven society with strong institutions that will support such development. This research article, initially developed in ‘Business Magazine Year Book 2018’ calls for a review of the past economic miracles, the conditions under which they took place and posits that, under Porter’s competitive advantage concept, rather than re-expecting a miracle, an embellishment time would be more appropriate for the country seen from the international competitive environment that now prevails.