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Investment Opportunities in COMESA Region: Tourism Sector

           Exploring the Mauritian Case &
          Potential for the COMESA Region


    Mr Raju Jaddoo, Managing Director, Board of Investment
                      November 2008
www.investmauritius.com
                                                            Agenda


   Mauritius: Economic Development, Investments & Tourism

   New Developments in Hospitality industry: Anahita Case
   study

   Country Endowments: A powerful COMESA Region offering

   Challenges for regional tourism development

   Way forward – Investments, Growth & Hospitality



                                                                 2
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                                                        Mauritius Development & Tourism

                                                                        Tourism Facts & Figures
                                                    GDP Market
                                                                         Year     Hotel    Tourist
                                                    Price (US$ M)
2000: ITES/BPO & Freeport
                                                             6,000
                                                                         1970      20      30,000
1990s: India DTA & Global Business
                                                                         1980      43      100,000
1980s: Hospitality: 100,000 tourists
                                                                         1990      88      400,000
1980s: EPZ Textile boom                                      2,200

1970s: Sugar Protocol                                                    2006      103     800,000

                                                                         2007      102     906,971
                                                             400

               1975 1980 1985 1990 1995 2000 2005
                                                                          Tourism Expenditure
                 Bilingual Competitive Talents
                                                                     1990: USD 350 – 400 Million p.a
             Democracy                 Political Stability           2005: USD 1.5 Billion p.a


                                                                                                       3
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                                                                                                       Adjusting to External Shocks


                                                                                Ripple effect of Oil            Downward
                                                                                Shock                         pressure on real
                                                                                                               GDP growth

                  35
                         Sugar Protocol preferential price
                  30     US$ 519/T in 2008
                  25
U S cts/ Poun d




                                                                                End of preferential
                  20
                                                                                                                              GDP (US$ M)
                  15
                                                                                Sugar Protocol
                  10
                                                      World sugar price
                   5
                   0
                       70 75 80 85 90 95                  0      5     6    8



      1200

      1000               EPZ Exports (US$ M)
                                                                                Competition on
             800


                                                                                Textile exports
             600

             400

                                                                                (China)
             200

                                                                                                  1975 1980 1985 1990 1995 2000 2005
                   0
                       1976   1980   1985   1990   1995   2000       2005
                                                                                                                                            4
The Mauritian Economic Transition
  www.investmauritius.com
                                                                                  Post 2006

  Downward
pressure on real
 GDP growth
                                                                                       GDP Market
                                                                              8,600*
                                                                                       Price (US$ M)




                                                          Reforms to bring growth on track:
                                                      Ease of doing business
                                                      Broadening circle of opportunities in the
                                                      Hospitality Industry: IRS, Medical Tourism,…


                                                           2006                2008
  1975 1980 1985 1990 1995 2000 2005
    Source: Historical Series -National Accounts_CSO (* estimates)
                                                                                                       5
www.investmauritius.com
                                               Integrated Resort Scheme


   Using Recurrent Clients and Mauritian Brand Name to broaden the
   Hospitality base

   Integrating the Hotel and Villa concept into beachfront properties:
   leasehold land for hotels and freehold land for villas

   Integration of IRS villa owners into the
   Mauritian landscape, resilience to the
   current difficult credit market situation




                                                                         6
New Developments in Hospitality
www.investmauritius.com
                                                industry


                                   Case Study:
                               Anahita World Class
                                     Sanctuary




                                                       7
www.investmauritius.com
                                                                   Overview


   Anahita World Class Sanctuary project:
      Development of a luxury Four Seasons Resort
      45 world class luxurious Four Seasons branded villas
      325 luxury private residences comprising of 70 waterfront residences,
      200 estate villas, 15 golf villas and 40 golf lodges and
      An 18-hole, par 72 championship Ernie Els signature golf course.


   The development is being carried out over 213 ha of land with a
   unique 6 km sea frontage.




                                                                              8
www.investmauritius.com
                                                                     Goals


   Investment: MUR 15 Billion

   Expected Job Creation: 1500 long term jobs

   Corporate Social Responsibility MUR 66 Million (approx. USD 2M)
       Employability: Educate unemployed
       Youth Development Programmes
       Special school for Disabled Children
       Rehabilitation of socially marginaised ‘Street’ Children
       Economic empowerment
       Assistance for setting up new small enterprises

   Environment Protection



                                                                        9
www.investmauritius.com
                                                               Delivery

     Project                   Project                  Project
  Identification            Structuring            Implementation


 IRS Certificate issued                            Phase 1 & Phase 2
                           Different permits,
 in 2005 by BOI                                    implemented
                           licenses & clearances
                           obtained in 2006
                           facilitated by BOI      Phase 3 launched
                                                   in Nov 2008
                           Anahita Fishermen
                           Solidarity Fund as      Phase 4 to be
                           compensation for the    initiated in 2009
                           fishermen


The Anahita Case Study: A Win / Win Equation
                                                                       10
Country Endowments
www.investmauritius.com
                                                               Mauritius


Mauritius, a remote location within the Indian Ocean
   Sea Frontage: 177 km
   From remote to Exclusive
   From Sun, Sand & Sea to an Emotional Experience
   Branding Mauritius: Holistic approach to hospitality, investment & trade


    Soft Assets
        People
        Multilingualism & Cultural compatibility
        Ease of doing business / reforms
        Safety & Political Stability
        Infrastructure
        …
                                                                              11
Country Endowments
www.investmauritius.com
                                                          COMESA Region


   Sea Frontage: A total of approx. 13,993 km
   Extraordinary Array of Stunning Natural Resources:
      Natural Park
      Desert
      Mountains
      Safaris
      Deep Sea

    Vantage Points:
        Cross selling opportunities: Crowd Pullers
        (Kenya Safari / Egypt, …) & New Explorations
        Large number of flagship hotel brands present in
        the region: Hilton, Sheraton, Inter-Continental, Four
        Seasons, Taj, Movenpick,, Oberoi, …

                                                                       12
COMESA Region
www.investmauritius.com
                                          Egypt & Historical Tourism


   One of the most tourist attractive countries in Africa, attracting
   millions of tourists a year. In 2007, Egypt attracted about 9.8
   million tourists.
   The country is strong in Pyramids, Desert and Beaches




                                                                        13   13
COMESA Region
     www.investmauritius.com
                                            Kenya & Safaris

Masai Mara Game Park
Dubbed one of the 7 New wonders of the
world, the annual Migration is a natural
 cycle that replenishes and renews the
 grasslands of East Africa. Around 1.3
      million Wildbeast migrate




                                                         14
COMESA Region
www.investmauritius.com
                                         Uganda & Eco-Tourism

   Tourism – 9.2 % of GDP
   Unique untapped potential – ecotourism, bird life
   Snow capped Ruwenzori mountains – most challenging of African
   mountains by hikers
    Queen Elizabeth National Park - 100 mammals species and more
   than 600 bird species




                                                                   15
COMESA Region
www.investmauritius.com
                                  Madagascar & Endemic Species

   Tourism - 7.8% GDP Contribution
   80% of UNIQUE endemic flora and fauna species
   Madagascar is a world leader in the development and
   implementation of environmental best-practice
   Ambition to become leader in high-quality ecotourism in Sub-
   Saharan Africa & Indian Ocean




                                                                  16
COMESA Region
   www.investmauritius.com
                                                         Projecting Tourist Growth


  COMESA tourism in 2004/2005:
       Approx. 17.7 M tourists visited the region
       Tourism industry contribution: USD 9,855 M


  Projections 2015?
       Linear v/s Exponential
       Things as usual v/s Paradigm Shift



Vantage Points:
    Mauritius will double its number of tourists to
    2 million p.a by 2015.
    Investments in infrastructure, airport facilities,
    branding…
                                                                                17
COMESA Region
www.investmauritius.com
                                                   Key Challenges


   Improve security for visitors
   Improve existing infrastructure & facilities
   Improve air connections: inter–COMESA & target markets
   Increase market awareness of the regional product & diversify
   offerings (cross-selling opportunities)
   Broaden circle of opportunities: IRS / Medical Tourism / …
   Improve Doing Business in COMESA (DB World Bank Survey)
   Increase inter-regional investments: low compared to non-
   COMESA FDI




                                                                   18
www.investmauritius.com
                                   Opportunities From World Cup 2010


   One million tourists expected in South Africa for the 2010 World Cup to be
   held from 11 June to 11 July 2010

   Opportunities for COMESA countries:
      Devising special packages for Tourists & World Cup Fan Base
      Taking advantage of global media attention to promote tourism
      Positioning COMESA countries over the long-term on the world tourist map




                                                                                 19
www.investmauritius.com
                                                        Concluding remarks

  Benefits of a thriving tourist industry for COMESA region
     Increase GDP/ Income per capita
     Increase job creation
     Increase investment
     Broaden / build economic base


Concluding Remarks:
    The COMESA region has highly desirable and unique offerings
    The region has investors in the form of the most renowned international
    hotel chains
    There are new opportunities in the Hospitality industry
    Cross-selling & market awareness will get us forward
    A paradigm change in the way we look at Hospitality in the COMESA
    region can result in exponential GROWTH

                                                                              20
www.investmauritius.com




                      Thank you


                  www.investmauritius.com
                contact@investmauritius.com




                                              21

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Investments Opportunities Comesa Tourism Raju Jaddoo

  • 1. www.investmauritius.com Investment Opportunities in COMESA Region: Tourism Sector Exploring the Mauritian Case & Potential for the COMESA Region Mr Raju Jaddoo, Managing Director, Board of Investment November 2008
  • 2. www.investmauritius.com Agenda Mauritius: Economic Development, Investments & Tourism New Developments in Hospitality industry: Anahita Case study Country Endowments: A powerful COMESA Region offering Challenges for regional tourism development Way forward – Investments, Growth & Hospitality 2
  • 3. www.investmauritius.com Mauritius Development & Tourism Tourism Facts & Figures GDP Market Year Hotel Tourist Price (US$ M) 2000: ITES/BPO & Freeport 6,000 1970 20 30,000 1990s: India DTA & Global Business 1980 43 100,000 1980s: Hospitality: 100,000 tourists 1990 88 400,000 1980s: EPZ Textile boom 2,200 1970s: Sugar Protocol 2006 103 800,000 2007 102 906,971 400 1975 1980 1985 1990 1995 2000 2005 Tourism Expenditure Bilingual Competitive Talents 1990: USD 350 – 400 Million p.a Democracy Political Stability 2005: USD 1.5 Billion p.a 3
  • 4. www.investmauritius.com Adjusting to External Shocks Ripple effect of Oil Downward Shock pressure on real GDP growth 35 Sugar Protocol preferential price 30 US$ 519/T in 2008 25 U S cts/ Poun d End of preferential 20 GDP (US$ M) 15 Sugar Protocol 10 World sugar price 5 0 70 75 80 85 90 95 0 5 6 8 1200 1000 EPZ Exports (US$ M) Competition on 800 Textile exports 600 400 (China) 200 1975 1980 1985 1990 1995 2000 2005 0 1976 1980 1985 1990 1995 2000 2005 4
  • 5. The Mauritian Economic Transition www.investmauritius.com Post 2006 Downward pressure on real GDP growth GDP Market 8,600* Price (US$ M) Reforms to bring growth on track: Ease of doing business Broadening circle of opportunities in the Hospitality Industry: IRS, Medical Tourism,… 2006 2008 1975 1980 1985 1990 1995 2000 2005 Source: Historical Series -National Accounts_CSO (* estimates) 5
  • 6. www.investmauritius.com Integrated Resort Scheme Using Recurrent Clients and Mauritian Brand Name to broaden the Hospitality base Integrating the Hotel and Villa concept into beachfront properties: leasehold land for hotels and freehold land for villas Integration of IRS villa owners into the Mauritian landscape, resilience to the current difficult credit market situation 6
  • 7. New Developments in Hospitality www.investmauritius.com industry Case Study: Anahita World Class Sanctuary 7
  • 8. www.investmauritius.com Overview Anahita World Class Sanctuary project: Development of a luxury Four Seasons Resort 45 world class luxurious Four Seasons branded villas 325 luxury private residences comprising of 70 waterfront residences, 200 estate villas, 15 golf villas and 40 golf lodges and An 18-hole, par 72 championship Ernie Els signature golf course. The development is being carried out over 213 ha of land with a unique 6 km sea frontage. 8
  • 9. www.investmauritius.com Goals Investment: MUR 15 Billion Expected Job Creation: 1500 long term jobs Corporate Social Responsibility MUR 66 Million (approx. USD 2M) Employability: Educate unemployed Youth Development Programmes Special school for Disabled Children Rehabilitation of socially marginaised ‘Street’ Children Economic empowerment Assistance for setting up new small enterprises Environment Protection 9
  • 10. www.investmauritius.com Delivery Project Project Project Identification Structuring Implementation IRS Certificate issued Phase 1 & Phase 2 Different permits, in 2005 by BOI implemented licenses & clearances obtained in 2006 facilitated by BOI Phase 3 launched in Nov 2008 Anahita Fishermen Solidarity Fund as Phase 4 to be compensation for the initiated in 2009 fishermen The Anahita Case Study: A Win / Win Equation 10
  • 11. Country Endowments www.investmauritius.com Mauritius Mauritius, a remote location within the Indian Ocean Sea Frontage: 177 km From remote to Exclusive From Sun, Sand & Sea to an Emotional Experience Branding Mauritius: Holistic approach to hospitality, investment & trade Soft Assets People Multilingualism & Cultural compatibility Ease of doing business / reforms Safety & Political Stability Infrastructure … 11
  • 12. Country Endowments www.investmauritius.com COMESA Region Sea Frontage: A total of approx. 13,993 km Extraordinary Array of Stunning Natural Resources: Natural Park Desert Mountains Safaris Deep Sea Vantage Points: Cross selling opportunities: Crowd Pullers (Kenya Safari / Egypt, …) & New Explorations Large number of flagship hotel brands present in the region: Hilton, Sheraton, Inter-Continental, Four Seasons, Taj, Movenpick,, Oberoi, … 12
  • 13. COMESA Region www.investmauritius.com Egypt & Historical Tourism One of the most tourist attractive countries in Africa, attracting millions of tourists a year. In 2007, Egypt attracted about 9.8 million tourists. The country is strong in Pyramids, Desert and Beaches 13 13
  • 14. COMESA Region www.investmauritius.com Kenya & Safaris Masai Mara Game Park Dubbed one of the 7 New wonders of the world, the annual Migration is a natural cycle that replenishes and renews the grasslands of East Africa. Around 1.3 million Wildbeast migrate 14
  • 15. COMESA Region www.investmauritius.com Uganda & Eco-Tourism Tourism – 9.2 % of GDP Unique untapped potential – ecotourism, bird life Snow capped Ruwenzori mountains – most challenging of African mountains by hikers Queen Elizabeth National Park - 100 mammals species and more than 600 bird species 15
  • 16. COMESA Region www.investmauritius.com Madagascar & Endemic Species Tourism - 7.8% GDP Contribution 80% of UNIQUE endemic flora and fauna species Madagascar is a world leader in the development and implementation of environmental best-practice Ambition to become leader in high-quality ecotourism in Sub- Saharan Africa & Indian Ocean 16
  • 17. COMESA Region www.investmauritius.com Projecting Tourist Growth COMESA tourism in 2004/2005: Approx. 17.7 M tourists visited the region Tourism industry contribution: USD 9,855 M Projections 2015? Linear v/s Exponential Things as usual v/s Paradigm Shift Vantage Points: Mauritius will double its number of tourists to 2 million p.a by 2015. Investments in infrastructure, airport facilities, branding… 17
  • 18. COMESA Region www.investmauritius.com Key Challenges Improve security for visitors Improve existing infrastructure & facilities Improve air connections: inter–COMESA & target markets Increase market awareness of the regional product & diversify offerings (cross-selling opportunities) Broaden circle of opportunities: IRS / Medical Tourism / … Improve Doing Business in COMESA (DB World Bank Survey) Increase inter-regional investments: low compared to non- COMESA FDI 18
  • 19. www.investmauritius.com Opportunities From World Cup 2010 One million tourists expected in South Africa for the 2010 World Cup to be held from 11 June to 11 July 2010 Opportunities for COMESA countries: Devising special packages for Tourists & World Cup Fan Base Taking advantage of global media attention to promote tourism Positioning COMESA countries over the long-term on the world tourist map 19
  • 20. www.investmauritius.com Concluding remarks Benefits of a thriving tourist industry for COMESA region Increase GDP/ Income per capita Increase job creation Increase investment Broaden / build economic base Concluding Remarks: The COMESA region has highly desirable and unique offerings The region has investors in the form of the most renowned international hotel chains There are new opportunities in the Hospitality industry Cross-selling & market awareness will get us forward A paradigm change in the way we look at Hospitality in the COMESA region can result in exponential GROWTH 20
  • 21. www.investmauritius.com Thank you www.investmauritius.com contact@investmauritius.com 21