Vision 2050 : A Defining Test for Mauritius’ Economic Future

The launch of Vision 2050 consultations marks a defining moment for Mauritius. Beyond bold ambition, experts caution that the success of the long-term strategy will rest on governance reform, fiscal discipline and the ability to adapt to global uncertainty. Dr Bhavish Jugurnath and Shaktee Ramtohul share their perspectives on what must change for Vision 2050 to succeed.

Mauritius officially launched its Vision 2050 national consultation process on 15 January 2026, with a first strategic dialogue held in Ebène that brought together key industry stakeholders to shape the long-term development roadmap for the nation. 

The consultations are part of an ambitious effort to frame the country’s economic, social and environmental priorities over the next 25 years, with a focus on sustainable growth, inclusivity and resilience. Government officials say the dialogue will extend across sectors and communities, ensuring broad participation in defining the goals and pathways of Vision 2050. 

Dr (Mrs) Jyoti Jeetun, Minister of Financial Services and Economic Planning, emphasized the importance of engaging stakeholders in co-constructing the national vision. She said the long-term plan is designed to chart Mauritius’ transformation into a high-income, resilient economy, calling on private-sector partners, civil society and citizens to contribute ideas that will guide policy and investment decisions for decades to come. 

A dedicated website has been set up to allow members of the public to submit their views and proposals. Dr Jeetun underlined that consultations will be carried out both thematically and regionally, with the exercise scheduled to conclude by early April this year. 

And as Mauritius embarks on nationwide consultations to shape Vision 2050, economists and financial experts are weighing in on what it will truly take to transform a long-term national ambition into a workable economic roadmap. 

For Dr Bhavish Jugurnath, Financial Consultant, Chartered Accountant and Economist, the ambition behind Vision 2050 is not in question — its feasibility, however, hinges on the choices Mauritius makes today. “Vision 2050 places Mauritius on an ambitious long-term path towards becoming a more inclusive, sustainable, and prosperous economy. But the real question is not whether the vision is desirable — it clearly is — rather, it is whether the priorities we set today are realistic given our structural constraints,” he explains.

At the heart of this transformation, he argues, must be economic diversification and productivity growth. According to him, Mauritius can no longer rely on its traditional pillars alone. “To sustain growth, we need to move decisively towards higher value-added activities such as digital services, fintech, life sciences, renewable energy, and the blue economy,” he notes, adding that diversification will only succeed if it is supported by innovation, technology and skills rather than cost competitiveness.

Human capital, he insists, remains the decisive factor. “A vision for 2050 will fail if today’s education and training systems do not prepare the workforce for tomorrow’s economy,” Dr Jugurnath warns. Addressing skills mismatches, improving labour market flexibility and boosting participation — particularly among youth and women — must therefore be central to the national agenda.

Beyond growth figures, inclusion is another pillar that cannot be overlooked. “Economic progress that benefits only a segment of the population is neither sustainable nor socially stable,” he says. In his view, Vision 2050 must translate into better jobs, reduced inequality and stronger support for SMEs. “Inclusion is not just a social goal; it is a foundation for long-term economic resilience.”

Sustainability and climate resilience, meanwhile, should be treated as economic imperatives rather than policy add-ons. “As a small island economy, Mauritius is highly vulnerable to climate change,” Dr Jugurnath points out. Investing in renewable energy, climate-resilient infrastructure and sustainable tourism, he argues, is both a necessity and an opportunity to unlock new growth avenues.

Yet even the most coherent strategy risks falling short without sound public finances and strong institutions. “High public debt, rising recurrent expenditure, and demographic pressures significantly constrain policy space. Without fiscal discipline, efficient public spending and robust governance, Vision 2050 risks remaining aspirational,” he cautions.

So, how realistic is Vision 2050? “The priorities are the right ones, but implementation will be challenging. Constraints such as limited scale, skills shortages, fiscal pressures, and exposure to external shocks cannot be ignored. That said, Vision 2050 can be realistic if it is pursued as a long-term, sequenced reform agenda, supported by political commitment, institutional coordination, and sustained public–private collaboration,” avers Dr Jugurnath. 

On his side, Shaktee Ramtohul, FCCA, Chartered Accountant and Business Consultant, asserts that Mauritius’ past success story is undeniable — but so too are the warning signs. “Mauritius has long been seen as a model of resilience, inclusion and prosperity,” he says, pointing to the country’s transformation from a sugar-based economy to tourism and financial services. Yet he argues that momentum has faltered. “The past 15 years saw a stagnation in innovative sectors, much to the dismay of the population, driven by a lack of vision by policy makers and blatant mismanagement of public funds.” 

He highlights structural weaknesses that threaten the very foundations of Vision 2050. “Little progress has been made on the development of the blue economy, certain regions in Mauritius are still experiencing water cuts, brain drain has emerged as a major issue while the country faces an ageing population,” Shaktee Ramtohul notes. Without decisive action, he warns, the goal of achieving high-income status could slip out of reach. “Unless the government paves the way to improve efficiency in public administration and business continuity, the very essence of becoming a high-income economy will fade away.”

The business climate, he adds, is already showing signs of strain. “Mauritius has recently experienced a drastic fall in company incorporations and this data should speak volumes of the climate of ease of doing business,” he says. For Shaktee Ramtohul, the success of Vision 2050 will hinge on fundamentals: “The eradication of mismanagement of public funds, the adoption of measures to encourage investments in renewable energy, incentives for our youth to utilise their skills for the betterment of the country and consistent dialogue between the public and the private sector.”

Economic Diversification

On economic diversification specifically, Dr Jugurnath stresses that creating new sectors alone will not be enough. “To remain competitive by 2050, we must diversify into knowledge-intensive and innovation-led industries. This means investing in digital services, fintech, biotech, renewable energy, and the blue economy. But diversification is more than creating new sectors — it requires upgrading skills, fostering research and innovation, and building a supportive ecosystem for startups and SMEs,” he says. Mauritius, he adds, must transition towards a knowledge-driven, innovation-led economy, where human capital and technology are the engines of competitiveness.

On his side, Shaktee Ramtohul acknowledges progress in traditional sectors but warns against complacency. “We have to commend the efforts and progress made by Mauritius in the tourism, financial services and textile sectors, however, over the years, our product and service offering have not changed,” he observes. 

He points to missed opportunities in eco-tourism, cultural immersion and community collaboration, while cautioning that the financial services sector remains vulnerable to external shocks, particularly treaty-related changes. “On the Tourism front, there is a hint of the concept of eco-tourism but with meagre implementations, cultural immersion is almost not on the agenda while collaboration with the local community is barely visible. The financial services sector has been performing well, however, any glitches in treaties could see a major shift in businesses,” he utters.

Competitiveness, stresses Shaktee Ramtohul, will increasingly depend on the country’s digital readiness. “Our digital space will need major upgrading in order to preserve our competitiveness,” Ramtohul says, adding that diversification into “artificial intelligence, Fintech, Cybersecurity, the blue economy, renewable energy, specialised healthcare and pharmaceuticals” is no longer optional.

Institutional Readiness

Turning ambition into action will also require institutional reform according to Dr Jugurnath. “To deliver Vision 2050, Mauritius must focus on strong, forward-looking institutions and strategic policy coordination,” he explains, highlighting the need for transparency, accountability, and regulatory efficiency, while aligning economic, social, and environmental strategies.

“We must also embrace evidence-based decision-making, strengthen public–private collaboration, and build a skilled, agile civil service. In short, effective governance, strategic foresight, and institutional resilience are essential to turn Vision 2050 from ambition into reality,” he states. 

For Shaktee Ramtohul, governance and institutional credibility will be decisive. “Governance primarily at the apex of public institutions is a major determinant of success and economic prosperity,” he says, citing recent instability at the Bank of Mauritius as a cautionary tale. “These mishaps are damaging for the reputation of the country which is striving to position itself as a major financial hub.” 

Among the reforms he calls for are “full modernisation and digitalisation of public services,” stronger support for private-sector innovation and “multidisciplinary research complemented by secure and transparent data collection.”

Social Inclusion

One key theme of Vision 2050 is inclusive growth. How can Mauritius ensure that economic transformation does not widen social inequalities but rather provides opportunities for youth, women, and marginalized groups?

“Inclusive growth must be at the heart of Vision 2050. Mauritius can achieve this by investing in education and skills, creating quality jobs for youth and women, and supporting SMEs and regional development. Social protection and targeted policies must ensure that the benefits of economic transformation reach marginalized groups, not just the few. Growth must be broad-based, equitable, and opportunity-driven, so no one is left behind,” affirms Dr Jugurnath. 

According to Shaktee Ramtohul, inclusive growth must rest on skills and creativity rather than consumption. “The key success criteria will be that of upskilling,” he says, urging a fundamental rethink of the education system in light of changing job markets. 

He links gender equality to the creation of “decent and attractive job opportunities favouring artificial intelligence, the blue and green economy,” while calling for stronger financial support for SMEs. “Mauritius needs to move away from a consumption to a creative economy. In this regard, major financial (and other) support is needed for small and medium enterprises. These measures shall help in boosting productivity and reducing the income inequality gaps,” he utters. 

The External Risks

Looking ahead, Dr Jugurnath identifies major external risks Mauritius must prepare for — from climate change and geopolitical tensions to technological disruption and global economic shocks. “To remain resilient, Mauritius must diversify its economy, strengthen fiscal buffers, invest in adaptive infrastructure, and develop human capital capable of navigating uncertainty,” he says.

Shaktee Ramtohul also agrees that externally, Mauritius’ vulnerabilities are stark. “Mauritius, being part of the small island developing state is prone to climate change,” Ramtohul notes, listing flash floods, coastal erosion and cyclones among the major threats. 

“Mauritius, being part of the small island developing state is prone to climate change. Flash floods, erosion of our coastal beaches and our vulnerability to tropical cyclones are major threats to the country. Furthermore, our constant dependence on imports of staple foods and fuel exposes our risk to foreign exchange,” he states. To mitigate this risk, he advocates for better use of various free trade agreements to improve exports and build reasonable foreign currency reserves. 

Geopolitics also loom large. “Mauritius itself needs to play a cautious role being entangled over the long dispute of the Chagos Archipelagos, which puts the country in a delicate situation. Geopolitical tensions have become the norm in recent months with numerous countries inclined to invest heavily in armed forces. However, such tensions have been driven mostly by selective heads of nations’ blatant lost of competitive status.  A show of military power might seem as the only way to showcase their existence. Geopolitical tensions do take its toll on inflation and supply chain,” he asserts. 

On diplomacy, he underlines the importance of “consistent collaborations with major allies such as India and China” to safeguard the country’s interests. “Consistent collaborations with major allies such as India and China can assist the country for instance with military observations and interventions on our exclusive economic zone whilst in country, significant efforts are required to encourage innovative farming to reduce our dependence on imports.”

Measuring Progress & Accountability

Finally, accountability will determine whether Vision 2050 delivers measurable outcomes. “To track progress toward Vision 2050, Mauritius should establish clear, measurable indicators across economic, social, and environmental dimensions. Key metrics could include GDP diversification, productivity growth, employment rates for youth and women, education and skills outcomes, innovation outputs, renewable energy adoption, and social equity measures,” Dr Jugurnath says. 

Accountability, he asserts, requires transparent reporting, regular audits, and public dashboards. “Each stakeholder has a role: the government sets policies and monitors progress, the private sector drives investment and innovation, and civil society ensures inclusivity and public oversight.”

“Data-driven monitoring and shared accountability will turn Vision 2050 from aspiration into concrete, measurable results,” he concludes.

On the other hand, measuring progress under Vision 2050, Shaktee Ramtohul argues, will require both existing and new metrics. “The economic and social metrics that are already in existence are namely Gross Domestic Product, Inflation, Strength of the local currency, balance of payments, debt level, unemployment level amongst a host of others.”

While a great number of indicators are already in place, he calls for improved research-driven tools to track “climate related data such as the extent of the rise of the sea level, income inequality gaps, corruption indexes.” He also stresses the need to measure the growth of renewable energy businesses and clean energy capacity.

Finally, accountability, he insists, depends on openness and dialogue. “The country needs to be an advocate for free speech and constructive criticisms,” Shaktee Ramtohul says, arguing that the implementation of a Freedom of Information Act would be a critical step forward. 

“The government absolutely requires a two-way communication with the private sector and civil societies,” he adds. He also stresses that public education on climate change must foster a sense of patriotism rooted in environmental protection. “The Civil society needs to be constantly educated about the dangers of climate change and such education will need to instil a sense of patriotism which will stem from protecting our environment.”