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Mauritius based banking group AfrAsia Bank and South African wealth intelligence firm New World Wealth have reviewed the rise of Mauritius as the wealthiest country in Africa.
Following several decades of strong growth, Mauritius now ranks as the wealthiest country in Africa by some margin (on a wealth per capita basis). Average wealth per person (wealth per capita) in the country amounts to just over US$30,000 as at June 2021, which is well above 2nd placed South Africa (US$11,000). Globally, it ranks above Poland (US$23,000) and only slightly below Portugal (US$48,000).
Possible reasons for Mauritius’ high wealth per capita:
Growth forecasts:
Our growth projections for Mauritius are strong – we expect it to experience wealth growth of 80% over the next decade (to 2030). This will make it one of the five fastest growing high-income markets in the world over this period, along with Australia, New Zealand, Switzerland and Malta. By 2030, HNWI numbers in Mauritius are expected to reach just over 7,800 compared to 4,400 currently.
Notes:
For more information on wealth, luxury and HNWI trends in Africa read : The AfrAsia Bank Africa Wealth Report 2021
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