Economic Dynamism
Since independence in 1976, percapita output in this Indian Ocean archipelago has expand, moving the island into the upper-middle income group countries. The growth has been led by the tourist sector, which employs about 30% of the labor force and provides more than 70% of hard currency earnings, and also by tuna fishing. In recent years, the government has encouraged foreign investment to develop international hotels and other services. At the same time, the government also promotes development of farming, fishing, and small scale manufacturing.
As the world becomes more embroiled with the recent financial crisis in 2008, Seychelles vulnerability as a small islands developing state, becomes more pronounced. The government has embarked on series national strategies in order to cushion the country and its people from the negative impact of these global crises.
Seychelles relies much on relationship with outside world and how well to develop and enhance co-operation and goodwill, both local and abroad to promote sustainable long term projects to maximize the multiplier effects in the economy.
As the world becomes more embroiled with the recent financial crisis in 2008, Seychelles vulnerability as a small islands developing state, becomes more pronounced. The government has embarked on series national strategies in order to cushion the country and its people from the negative impact of these global crises.
Seychelles relies much on relationship with outside world and how well to develop and enhance co-operation and goodwill, both local and abroad to promote sustainable long term projects to maximize the multiplier effects in the economy.