Foreign direct investments (FDI) in Mauritius stood at 13.64 billion rupees ($388.8 million) in 2016, up 41% compared to 2015, according to a statement published on April 4th by the central bank.

The surge is mainly due FDIs’ increase in the real estate and finance sectors. In the first, FDIs stood at 9.93 billion rupees whereas in the finance sector they reached 2.15 billion rupees.

“About a third of foreign direct investments comes from France (4.49 billion rupees), while China provided 17.9% (2.44 billion rupees) of the total amount,” the central bank added.

Since its independence in 1968, Mauritius recorded a stable average annual growth, ranging between 5% and 6%. The former British colony thus moved from being a low-revenue country, with an economy mainly supported by agriculture previously, to an intermediate-revenue country, with a diversified economy supported by growing financial and industrial sectors as well as medical tourism, real estate and outsourcing.