Research and consulting in Seychelles
Country Overview:
IOA’s research and consulting on Seychelles has led to our economists concluding that the country’s prosperity relative to most African nations is due to the best-developed blue economy on the continent, harnessing the industrial and tourism potential of the ocean surrounding the archipelago. Economic activity is either centred on the ocean – fishing and tourism – or long-established products like boat building and the cultivation and processing of coconut and vanilla. As a nation, Seychelles is more vulnerable to rising oceans than any other: IOA researchers find that 70% of the archipelago’s islands will be submerged if global warming continues.
Within a mixed economy, tourism remains the growth industry and recovered strongly from the global Covid-19 pandemic. However, reliance on tourism makes the economy vulnerable to international crises that may curtail travel.
Key opportunities in Seychelles:
- The resilience of tourism to recent global shocks signifies the country’s attractiveness as a holiday destination
- Traditional crops – coconut and vanilla – remain the mainstay of agriculture
- The fishing sector is strong and is a consistent source of employment and investment
Key concerns/risks in Seychelles:
- A chain of low-lying islands is extremely vulnerable to rising sea levels brought by climate change
- With all energy imported, the need is acute to fast-track alternative, renewable energy sources
- The country’s historic trade ties have also been utilised by drug traffickers, and IOA researchers report a drug abuse epidemic among Seychelles’ people
A sample IOA research report on Seychelles: