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 Industry and Enterprise Geralda Desaubin, highlighting renewable energy and real estate as priority sectors. The National Development Strategy 2024–2028 places investment in green infrastructure, housing and sustainable development at the centre of the national agenda. That's set to drive further growth in sustainable construction, which recorded a CAGR of 18.4% from 2020 to 2024, with UAE import flows playing an important role.

The UAE is also influencing renewables development. “Following my participation in Abu Dhabi Sustainability Week, sustainable energy is one area where we can promote and encourage more investment for the country,” says Desaubin. That sits within the wider focus of diversification built on technology, innovation and digitalisation. “This is the right moment to come in and work with Seychelles as a partner in exploring these new opportunities,” she adds.

While tourism remains the economy’s anchor, it is also a driver for wider development. Major projects include the Victoria Port modernisation, valued at more than $41 million, and ongoing redevelopment under the Seychelles International Airport master plan. Private investment is following suit. Luxury boutique hotel Le Duc de Praslin recently upgraded its facilities to five-star standard, based on the sector’s enduring strength. “Seychelles remains one of the most beautiful destinations in the world and one of the safest,” says Owner and Director Robert Payet.