The Seychelles is an archipelago of 115 islands in the Indian Ocean, off East Africa. It’s home to numerous beaches, coral reefs and nature reserves, as well as rare animals such as giant Aldabra tortoises. Mahé, a hub for visiting the other islands, is home to capital Victoria. It also has the mountain rainforests of Morne Seychellois National Park and beaches, including Beau Vallon and Anse Takamaka.
The medium-term economic outlook is positive. Real GDP is projected to grow 4.6% in 2021 and 5.8% in 2022 as economic activity increases and tourist arrivals rebound. Investor confidence is likely to be strengthened by the smooth transition to a new leadership after the opposition won in the October 2020 elections, which bodes well for the country’s medium-term economic outlook and its ability to sustain its recently acquired high-income status. The fiscal and current account deficits are projected to narrow to 1.0% and 31.1% respectively in 2021 and to 1.3% and 27.9% in 2022. Insufficient economic diversification and vulnerability to external shocks (more than 25% of GDP comes from tourism) and climate change pose the main risk to the outlook.
Tuscany Office Park, Ground Floor, Building XI, 6 Coombe Place, Rivonia, 2128, Johannesburg South AFrica
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