Mauritius attracted less foreign investment in 2015 vs 2014

PORT LOUIS (Reuters) - Foreign direct investment to Mauritius slipped in 2015 to 9.62 billion Mauritius rupees ($272.14 million) compared with 2014, based on preliminary figures released by the central bank. Bank of Mauritius also revised up its estimate of direct investment that flowed into the Indian Ocean island in 2014 to 18.49 billion rupees, from a previously stated 14.15 billion rupees. It said the 2015 figure could face revision in future to capture transactions between residents and non-residents relating to equity, intra-company loans between affiliated entities and changes in retained earnings positions. Investment in real estate and related activities was the main beneficiary of investment in 2015, accounting for 8.12 billion rupees. France was the source of most of that investment. The bank said it estimated investment flows for the first quarter of 2016 at 3.0 billion rupees, with most of that also focused on real estate and related business. Of that total for the first quarter, France accounted for 926 million rupees and United Arab Emirates 565 million rupees. Famed for its white sandy beaches and luxury spas, Mauritius is diversifying its economy away from the traditional sectors of sugar, textiles and tourism into offshore banking, business outsourcing, luxury real estate and medical tourism. ($1 = 35.3500 Mauritius rupees) (Reporting by Jean Paul Arouff Editing by Edmund Blair)