Seychelles, officially the Republic of Seychelles, is an archipelagic island country consisting of 115 islands in the Indian Ocean at the eastern edge of the Somali Sea. Its capital and largest city, Victoria, is 1,500 kilometers (800 nautical miles) east of mainland Africa. Nearby island countries and territories include the Comoros, Madagascar, Mauritius, and the French overseas regions of Mayotte and Réunion to the south; and the Maldives and the Chagos Archipelago (administered by the United Kingdom as the British Indian Ocean Territory) to the east. It is the least populous sovereign African country.
Wavel Ramkalawan is a Seychellois politician and Anglican priest who has been serving as the president of Seychelles since 26 October 2020.
The current population of Seychelles is 100,168 as of Monday, July 3, 2023, based on Worldometer elaboration of the latest United Nations data.
The economy of Seychelles is based on fishing, tourism, processing of coconuts and vanilla, coir (coconut fiber) rope, boat building, printing, furniture, and beverages. Agricultural products include cinnamon, sweet potatoes, cassava (tapioca), bananas, poultry, and tuna.
Seychelles is vulnerable, due to its small size, isolation, limited natural resources, and dependence on tourism. Seychelles has a service-oriented mixed economy in which some citizens still rely upon subsistence farming, but tourism has promoted an economy with a variety of private freedom in combination with centralized government regulation. The informal sector also affects productivity and growth.
The Seychelles National Youth Council, which has responsibility for youth policy and programs, defines youth as between 15-30 years. There is not a real lack of employment opportunities in this country currently. A recent National Survey based on the well-being and quality of life of young people showed that, in general, this group felt that the education system was providing a good enough foundation to enable them to secure decent jobs.
The key development documents used by Seychelles are: Vision 2033, National Development Strategy (NDS) 2019 – 2023, Seychelles Country Strategy Paper 2021-2025, National Human Resource Development Strategy 2018-2022, National Human Resource Development Policy 2018-2022
Business opportunities in Seychelles
One of the main investment opportunities in Seychelles is real estate. The country has a growing demand for high-end properties, particularly in the tourism industry. Investors can take advantage of this by investing in beachfront properties, resort developments, and residential properties.
Other areas that can attract investors are the construction, energy, financial services, and fisheries industries.
