Red roofs of Eden Island, aerial view of Seychelles

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Sub-Saharan Africa

The Republic of Seychelles lies northeast of Madagascar, an archipelago of 115 islands with almost 98,000 citizens, three-quarters of whom live on the main island of Mahé. Seychelles has the highest gross domestic product (GDP) per capita in Africa, at $13,306 (2021). It is highly dependent on tourism and fisheries, with climate change posing risks to the sustainability of its economy long-term.

Seychelles is the most prosperous nation in Sub-Saharan Africa. Its economy is highly dependent on tourism, making it vulnerable to global developments. Investor interests in the blue economy sector is growing. Fisheries remain the largest sector after tourism.

In the medium term, tourism will continue to be the key growth driver, complemented by growth in private consumption. Average annual inflation has moderated, in line with an appreciation of the Seychelles rupee (as tourism has recovered). However, the fallout from the war in Ukraine will continue to put upward pressure on food and fuel prices and inflation into 2023. The fiscal deficit is expected to decline by 2.2 percentage points to reach 3.8% by end-2022.

Growth is expected to peak at 10.9% in 2022 and average 5% in the medium-term as tourism recovers, the pandemic recedes, and global economic growth and trade resumes. The war in Ukraine reduced tourist arrivals from Russia and Ukraine but an increase in arrivals from Western Europe has muted the impact. The economy has continued to recover in 2022, driven by a rebound in tourism and the services sector. In the first half of 2022, tourist arrivals were at about 70% of the 2019 level (in contrast to the 60% decline in 2020). Higher tourism activity has helped with an appreciation of the Seychelles rupee, and the stabilization of inflation, partly offsetting the upward pressure on prices from the war. The Government has scaled-up social protection to mitigate the impact of higher-than-expected inflation on poor households.​

Source: World Bank, Seychelles Country Overview


Access the Seychelles SDG Investor Map prospectus and summary report here and here

Investment OpportunitiesDescribes the number of investment opportunities in the country.
Most Affected SDGsDescribes the three priority SDGs the investment opportunities address in the country.
Decent Work and Economic Growth (SDG 8) Affordable and Clean Energy (SDG 7) Climate Action (SDG 13)
Priority Target SectorsDescribes the three priority sectors the investment opportunities address in the country, based on the SASB Sustainable Industry Classification System®️ (SICS®️) classification.
Renewable Resources and Alternative Energy, Services, Food and Beverage
Ease of Doing Business ScoreDeveloped by the World Bank, the Ease of Doing Business Score helps assess the absolute level of regulatory performance over time. An economy’s ease of doing business score is reflected on a scale from 0 to 100, where 0 represents the lowest and 100 represents the best performance.
See the World Bank Ease of Doing Business site for more information.
Human Development IndexDeveloped by the United Nations Development Programme (UNDP), the Human Development Index is a summary measure for assessing a country’s long-term progress in three basic dimensions of human development: a long and healthy life, access to knowledge and a decent standard of living.
See the UNDP Human Development Index site for more information.


Opportunities 9 Investment Opportunity Areas