The Busi­ness End

Seychelles Business Travel Guide - - SEYCHELLES -

THE BLEND OF English and French speak­ing lo­cals fur­ther aids the coun­try’s in­ter­na­tional scope when it comes to busi­ness de­vel­op­ment; an evo­lu­tion that took shape in earnest fol­low­ing its in­de­pen­dence from the UK back in 1976. Sub­se­quently di­ver­si­fy­ing its global out­reach from a solely agri­cul­tural makeup to be­come a truly multi-mar­ket econ­omy, GDP out­put has risen ex­po­nen­tially al­most ev­ery year since then, and the Sey­chelles now boasts the high­est nom­i­nal per-capita GDP on the con­ti­nent.

Since the global eco­nomic cri­sis in 2008, the coun­try’s Government has gone to great lengths to pre­serve its sta­tus via a more con­certed pri­vati­sa­tion of en­ter­prises; which in turn has leant it­self to height­ened in­ter­est from FDIs and the in­ter­na­tional busi­ness scene.

Sim­i­larly, the Sey­chelles has taken the op­por­tu­nity to look ahead at this di­ver­si­fi­ca­tion trend and veer ever so slightly away from its nat­u­ral tourism ten­den­cies.

The Sey­chelles Tourism Board adds: “The Sey­chelles has taken the de­ci­sion to di­ver­sify both in terms of its tourism mar­kets and also in terms of its eco­nomic base, seek­ing ways to di­min­ish risk of de­pend­ing en­tirely on tourism by look­ing to ex­plore the many ex­cit­ing as­pects of its Blue Econ­omy and to for­tify its off­shore fi­nan­cial ser­vices sec­tor which has al­ready grown to rep­re­sent roughly eight per­cent of GDP.

“As such, The State Bank of Mau­ri­tius and Al Salaam Bank Sey­chelles with head­quar­ters in Bahrain are both open­ing branches in Vic­to­ria. A new res­i­den­tial com­plex, Pangea Beach, is also be­ing opened on the out­skirts of Vic­to­ria which will of­fer state-of-the-art fa­cil­i­ties within a co­coon of lux­ury.”

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