Wealth Management - Mauritius

Mauritius

In Mauritius, the Wealth Management market is expected to see significant growth in the coming years.
By 2024, the projected assets under management are estimated to reach US$956.70m.
Among the various segments within the market, Financial Advisory holds a dominant position, with a projected market volume of US$842.30m in 2024.
Looking ahead, the assets under management are anticipated to display a steady annual growth rate (CAGR 2024-2028) of 1.44%.
This growth trajectory is expected to result in a market volume of US$1,013.00m by 2028.
The Wealth Management market sector in Mauritius is poised for continued expansion in the coming years.
Mauritius is emerging as a leading destination for offshore wealth management, attracting high-net-worth individuals due to its attractive tax incentives and robust financial services sector.

Key regions: United States, United Kingdom, Germany, Hong Kong, Singapore

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Analyst Opinion

The Wealth Management market in Mauritius is experiencing significant growth and development due to several factors. Customer preferences are shifting towards more personalized and comprehensive wealth management services, while local special circumstances and underlying macroeconomic factors are also contributing to the market's expansion.

Customer preferences in Mauritius are evolving, with individuals seeking more specialized and tailored wealth management solutions. As the country's economy continues to grow, individuals are accumulating wealth and require professional guidance to manage their assets effectively. Clients are increasingly looking for a wide range of services, including investment advice, tax planning, estate planning, and retirement planning.

They want their wealth managers to have a deep understanding of their financial goals and to provide customized strategies to achieve them. Trends in the Wealth Management market in Mauritius reflect the global shift towards digitalization and automation. Wealth management firms are investing in technology to enhance their service offerings and provide clients with convenient access to their financial information.

Online platforms and mobile applications are being developed to enable clients to monitor their portfolios, make transactions, and receive personalized recommendations. This digital transformation is driven by the desire to improve efficiency, increase accessibility, and enhance the overall client experience. Local special circumstances in Mauritius also contribute to the development of the Wealth Management market.

The country has established itself as a leading financial center in Africa, attracting high-net-worth individuals and international investors. Its favorable tax regime, political stability, and well-regulated financial sector make it an attractive destination for wealth management services. Additionally, Mauritius has a strong legal framework for wealth protection and inheritance planning, further enhancing its appeal as a wealth management hub.

Underlying macroeconomic factors also play a significant role in the growth of the Wealth Management market in Mauritius. The country's robust economic growth, driven by sectors such as finance, tourism, and information technology, has resulted in an increase in disposable income and wealth accumulation. As individuals and businesses seek to preserve and grow their wealth, the demand for wealth management services has grown correspondingly.

Furthermore, Mauritius has a well-developed capital market, providing ample investment opportunities for wealth managers to offer their clients. In conclusion, the Wealth Management market in Mauritius is experiencing growth and development due to evolving customer preferences, global trends in digitalization, local special circumstances, and underlying macroeconomic factors. As individuals and businesses seek professional guidance to manage their wealth effectively, wealth management firms are adapting to meet their needs and provide personalized solutions.

With the country's favorable business environment and strong economic growth, the Wealth Management market in Mauritius is expected to continue expanding in the coming years.

Methodology

Data coverage:

The data encompasses B2C enterprises. The figures are based on gross revenues, assets under management, and user & advisor data of relevant services and products offered within the Wealth Management market.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research activities (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as: GDP, gross national income (GNI), consumer spending, total investment (% of GDP), high income (% of population), and number of high-net-worth individuals (HNWI). This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).