Seychelles Broadens Investment Horizons: New Sectors and Sustainability Take Centre Stage

The Seychelles Investment Board (SIB) is spearheading a dynamic shift in the island nation’s investment landscape, placing a renewed emphasis on diversification, sustainability, and streamlined facilitation for both foreign and local investors. This strategic approach is designed to ensure Seychelles’ long-term economic resilience and competitiveness, while also aligning with global trends and the evolving expectations of international partners, including those from sub-Saharan Africa.

At the core of this transformation is a clear message: Seychelles is open for business, but with a sharper focus on quality, sustainability, and sectors that promise lasting value. As Roland Laljee, Director of Investment Promotion at SIB, puts it, “We’re the VIP of investment promotion in Seychelles.” The Board’s mission is to channel foreign direct investment (FDI) into priority sectors that reflect the government’s vision for a diversified and robust economy [[1]](https://www.state.gov/reports/2024-investment-climate-statements/seychelles).

Beyond Sun and Sand: A New Era for Tourism

While tourism remains the backbone of Seychelles’ economy, the country is actively moving beyond its traditional image of pristine beaches and luxury resorts. The SIB is championing a new wave of tourism investment that embraces cultural tourism, sports tourism—such as beach soccer—and agro-tourism linked to hiking trails and local experiences. This approach not only enhances the visitor experience but also encourages longer stays and higher spending, benefiting a broader cross-section of the local economy.

This diversification within tourism is closely tied to national development goals. By promoting investment in new tourism segments, Seychelles aims to reduce its vulnerability to external shocks and seasonal fluctuations, while also showcasing the rich cultural and natural heritage that sets the islands apart.

Facilitating Investment: The One-Stop Shop Approach

For investors, the SIB offers a streamlined, supportive entry point into the Seychelles market. Acting as a one-stop shop, the Board guides investors through every stage of the process—from initial project scoping to navigating regulatory requirements with referral agencies across sectors such as tourism, health, and infrastructure. This facilitation role is designed to minimize bureaucratic hurdles and accelerate the ease of doing business, without compromising on essential regulations [[1]](https://www.state.gov/reports/2024-investment-climate-statements/seychelles).

Laljee acknowledges that bureaucracy can be a challenge, but emphasizes that the SIB’s proactive approach is making a tangible difference. By reducing bottlenecks and providing hands-on support, the Board is helping to create a more attractive and predictable environment for both local and international investors.

Emerging Sectors: Renewable Energy, ICT, and Aquaculture

Seychelles is actively seeking investment in a range of emerging sectors that align with its sustainability agenda and long-term growth targets. Renewable energy stands out as a key opportunity, with the country leveraging its abundant solar resources to reduce dependence on imported fossil fuels. Ambitious targets for 2030 and 2050 are driving investment in solar and other clean energy solutions, positioning Seychelles as a regional leader in green innovation.

Other sectors ripe for investment include information and communications technology (ICT), education, financial services, and aquaculture. The aquaculture sector, in particular, is described as “primed and ready,” with clear regulations, policies, and designated areas already in place. This sector offers significant potential for sustainable growth, tapping into global demand for high-quality seafood while supporting local livelihoods.

Cruise Tourism and Cultural Expansion

Even within established sectors, Seychelles is identifying new avenues for growth. Cruise tourism is one such area, with opportunities for local entrepreneurs to develop auxiliary services such as souvenirs, crafts, and culinary experiences that cater to short-stay visitors. By enhancing the cultural and experiential offerings available to cruise passengers, Seychelles can capture greater value from this segment and foster deeper connections between visitors and local communities.

Sustainable Investment: Balancing Growth and Conservation

Seychelles’ commitment to sustainable investment is evident in its careful approach to new development. The country has implemented a moratorium on new tourism establishments to ensure that growth does not outpace the capacity of critical infrastructure such as waste management, water, sewage, and roads. All new projects are expected to incorporate sustainability principles, in line with the SDG investor map and the government’s broader development agenda .

This balanced approach is designed to protect the islands’ unique environment while still enabling economic expansion. Investors are encouraged to adopt practices that minimize their ecological footprint and contribute positively to the community, ensuring that Seychelles remains a desirable destination for generations to come.

Aftercare and Long-Term Vision

The SIB’s role does not end once an investment is approved. The Board provides ongoing aftercare, supporting investors through the construction and operational phases of their projects. This includes facilitating inter-departmental meetings and resolving challenges as they arise, ensuring that investors are not left to navigate the system alone.

Looking to the future, the SIB envisions a diversified economy where multiple sectors are thriving and contributing to national prosperity. The medium-term focus is on refining regulations and policies to create a business environment that is both attractive and resilient. In the long term, the goal is to see these investments mature and deliver sustained benefits to the Seychellois people.

Implications for Africa’s Travel Industry

For Africa’s travel sector, Seychelles’ evolving investment strategy offers valuable lessons and potential partnership opportunities. The focus on diversification, sustainability, and facilitation mirrors broader trends across the continent, where resilience and innovation are increasingly seen as keys to future growth. African stakeholders can look to Seychelles as a model for balancing economic development with environmental stewardship, while also exploring new avenues for collaboration in sectors such as renewable energy, ICT, and sustainable tourism.

As Seychelles continues to refine its investment framework and expand its economic horizons, the message to the global market is clear: the islands are open for business, but with a forward-looking vision that prioritizes quality, sustainability, and shared prosperity. For those in the African travel industry, this presents a timely opportunity to engage with a dynamic and evolving destination that is setting new standards for investment and development in the region.