Global Competitiveness Report 2017/2018 Mauritius in leading position in Sub-Saharan Africa
In its Global Competitiveness Report 2017/2018 the World Economic Forum (WEF) ranks Mauritius 1st in Sub-Saharan Africa and 45th globally. The report assesses the competitiveness of economies and provides an insight into their productivity and prosperity.
Countries are assessed according to the 12 pillars of the Global Competitiveness Index (GCI), namely institutions, infrastructure, macroeconomic environment, health & primary education, higher education & training, goods market efficiency, labour market efficiency, financial market development, technological preparedness, market size, business sophistication and innovation. Each pillar is grouped into three sets describing basic requirements, efficiency enhancers and innovation factors of competitiveness.
According to the report, Mauritius has an efficient legal framework coupled with highly accountable private institutions, effective auditing and accounting standards. The report also commended the legal provisions which ensure protection of minority shareholders’ interests.
The country’s infrastructure is developing according to regional standards and the country boasts an efficient goods market driven by greater foreign presence and competition. The labour market is relatively flexible regarding wages and recruitment. In addition, the employment of women has significantly increased across all economic sectors, including the scientific and engineering fields.
Efforts have been acknowledged in relation to the development of the financial market through notable improvements in the sector. This recognition includes a sound banking sector, wellregulated securities exchanges, venture capital, and other financial products available.