Tourism and Beyond: Seychelles targets sustainable growth, investment opportunities
Traditionally reliant on tourism and fisheries, Seychelles is targeting diversification, infrastructure and sustainable development to reduce exposure to seasonality, broaden its economic base and strengthen its investment appeal. Industry accounts for around 13.5% of GDP, and a key goal is to widen that contribution. “Industry has much more to offer, and we can do more,” says Minister for…
Seychelles, traditionally dependent on tourism and fisheries, is actively pursuing diversification, infrastructure development, and sustainable growth to mitigate the risks associated with seasonality and broaden its economic foundation. Industry plays a significant role, accounting for around 13.5% of the nation's GDP, and the government aims to expand its contribution.
Minister for Industry and Enterprise, Geralda Desaubin, emphasizes the potential of renewable energy and real estate as priority sectors. The National Development Strategy 2024–2028 underscores the importance of investing in green infrastructure, housing, and sustainable development to fuel further economic expansion. Green construction, which witnessed a Compound Annual Growth Rate (CAGR) of 18.4% from 2020 to 2024, is set to benefit from increased UAE imports, and the UAE is also shaping renewable energy initiatives.
Desaubin highlights that the country is at a pivotal moment to attract more investments by collaborating with Seychelles in technology, innovation, and digitalisation. Tourism continues to be the backbone of the economy, with major projects like Victoria Port modernisation valued at over $41 million and the Seychelles International Airport master plan underway.
Moreover, private enterprises, such as the recently upgraded luxury boutique hotel Le Duc de Praslin, are leveraging Seychelles' enduring appeal in the tourism sector. Desaubin asserts that Seychelles remains a beautiful and secure destination, attracting private investments and bolstering the nation's investment potential.
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