Mauritius didn’t rely on tourism to earn the World Bank‘s ranking as the easiest place to do business in Africa in 2014.

More than 50 percent of Mauritius is arable, and 90 percent of arable land is used for farming sugarcane, its main export crop, according to CNN.

Yet, despite sugar being a major export for decades, Mauritius has managed to successfully diversify its economy, mainly by investing in manufacturing, CNN reports.

At first, the focus was on production of clothing and textiles, but recently the country has started exporting watch parts and jewelry.

Manufacturing grew by 3 percent in 2013, up from 2.2 percent in 2012, according to CNN.

Diamond production, watches and jewelry represent 10 percent of Mauritian foreign exports, adding more than $150 million to the country’s gross domestic product.

Besides agriculture and manufacturing, other areas of rising economic activity include finance, especially banking and business outsourcing.

The country claims to be a safe haven for those seeking tax relief. Some of the tax perks of doing business there include no withholding taxes on dividends or interest, no capital gains tax, an efficient banking system and free repatriation of foreign currencies, according to GlobalFinanceMauritius, an organization set up as a nonprofit trust in 2010.

The island nation bypassed South Africa in 2014 to become Africa’s most competitive economy based on flexible regulations, good governance and political stability, according to the World Economic Forum Global Competitiveness Report.

Despite the global slowdown in recent years, the Mauritian economy has consistently had growth rates of more than 3 percent a year, with 3.5 percent growth in 2014 and projected growth of 3.5 percent for 2015, CNN reports.

Each year close to 1 million tourists visit Mauritius, which occupies less than 800 square miles and has 1.3 million people. They’re a diverse mix of residents, mainly of African, French and Indian descent. The country is known for its stunning scenery.