Sub-Saharan Africa
Seychelles
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.
9
Renewable Resources and Alternative Energy, Services, Food and Beverage
0.785
How is this information gathered?
SDG Investor Maps employ an 8-step methodology, combining data research and stakeholder consultations to identify Investment Opportunity Areas (IOAs) and potential business models with significant financial and impact potential.
Disclaimer
UNDP, the Private Finance for the SDGs, and their affiliates (collectively “UNDP”) do not seek or solicit investment for programmes, projects, or opportunities described on this site (collectively “Programmes”) or any other Programmes, and nothing on this page should constitute a solicitation for investment. The actors listed on this site are not partners of UNDP, and their inclusion should not be construed as an endorsement or recommendation by UNDP for any relationship or investment.
The descriptions on this page are provided for informational purposes only. Only companies and enterprises that appear under the case study tab have been validated and vetted through UNDP programmes such as the Growth Stage Impact Ventures (GSIV), Business Call to Action (BCtA), or through other UN agencies. Even then, under no circumstances should their appearance on this website be construed as an endorsement for any relationship or investment. UNDP assumes no liability for investment losses directly or indirectly resulting from recommendations made, implied, or inferred by its research. Likewise, UNDP assumes no claim to investment gains directly or indirectly resulting from trading profits, investment management, or advisory fees obtained by following investment recommendations made, implied, or inferred by its research.
Investment involves risk, and all investments should be made with the supervision of a professional investment manager or advisor. The materials on the website are not an offer to sell or a solicitation of an offer to buy any investment, security, or commodity, nor shall any security be offered or sold to any person, in any jurisdiction in which such offer would be unlawful under the securities laws of such jurisdiction.
