Seychelles Business Directory & List of Companies
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Capital City and Other Cities in Seychelles
Seychelles is an island nation located in the Indian Ocean, off the eastern coast of Africa. It consists of 115 islands, and its capital city, as well as its largest city, is Victoria. Victoria is located on Mahé, which is the largest and most populous island in Seychelles.
While Victoria is both the capital and largest city, it is worth noting that Seychelles is a relatively small country, and there are no other large cities in the traditional sense. The population is concentrated on a few of the main islands, with the majority residing on Mahé. Other islands are characterized by smaller towns, villages, or rural settlements.
Seychelles Economy in Figures
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Gross Domestic Product (GDP): In 2020, Seychelles had a GDP of approximately 1.79 billion USD.
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GDP per Capita: Seychelles had a GDP per capita of around ,218 USD in 2020. This figure indicates the average income per person in the country.
Economic Structure
- Tourism: Tourism is the primary driver of Seychelles' economy. The country's beautiful beaches, coral reefs, and natural landscapes attract visitors from around the world. Tourism-related services, including hotels, restaurants, and tour operators, are vital to the economy.
- Fisheries: The fishing industry, including commercial fishing and seafood processing, is another significant contributor to the economy. Seychelles exports tuna and other seafood products to international markets.
- Financial Services: Seychelles has developed a robust offshore financial services sector, offering banking, insurance, and international business services. The country has sought to diversify its economy by attracting offshore companies.
- Agriculture: Agriculture, including the cultivation of fruits, vegetables, and spices, plays a role in the country's economy, but it is not as dominant as tourism and fisheries.
- Foreign Investment: Seychelles has attracted foreign investment, particularly in tourism infrastructure and real estate developments.
- Currency: The currency used in Seychelles is the Seychellois Rupee (SCR).
- Challenges: Seychelles faces economic challenges, including its vulnerability to external factors such as changes in global tourism demand. The country also faces issues related to income inequality and the need for sustainable development.
- Debt Relief: Seychelles has received international support for debt relief and sustainable development initiatives.
- Sustainable Practices: The government of Seychelles has made efforts to promote sustainable practices in tourism, fisheries, and environmental conservation, reflecting the country's commitment to preserving its natural beauty.
Ten Top Banks in Seychelles
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Bank of Baroda (Seychelles) Limited:
Bank of Baroda is an international bank with a presence in Seychelles, offering a range of banking and financial services to individuals and businesses.
- Barclays Bank of Seychelles:
Barclays Bank operates in Seychelles and provides various banking and financial services, including retail banking and corporate banking.
- Central Bank of Seychelles:
The Central Bank of Seychelles is the country's central bank, responsible for monetary policy, currency issuance, and financial stability.
- Seychelles Commercial Bank (SCB):
Seychelles Commercial Bank is one of the leading local banks in Seychelles, offering a wide range of banking services to customers.
- Mauritius Commercial Bank (Seychelles) Limited:
This is a subsidiary of the Mauritius Commercial Bank Group, offering banking and financial services to individuals and businesses in Seychelles.
- Habib Bank Limited (HBL):
Habib Bank Limited is an international bank with a presence in Seychelles, providing banking and financial services to clients.
- Seychelles Savings Bank (SSB):
Seychelles Savings Bank is a local bank that focuses on providing savings and financial services to the people of Seychelles.
- Seylan Bank (Seychelles) Limited:
Seylan Bank operates in Seychelles and offers various banking services, including personal banking, corporate banking, and trade finance.
- Standard Chartered Bank (Seychelles) Limited:
Standard Chartered Bank operates in Seychelles and provides banking services to individuals and businesses.
- Development Bank of Seychelles (DBS):
Development Bank of Seychelles focuses on providing financing and support for development projects and initiatives in Seychelles.
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