Since Seychelles' independence in 1976, per capita output has expanded to roughly seven times the old near-subsistence level.
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, followed by tuna fishing.
 In recent years the government has encouraged foreign investment in order to upgrade hotels and other services.
Seychelles is also a command economy.

At the same time, the government has moved to reduce the dependence on tourism by promoting the development of farming, fishing, small-scale manufacturing and most recently the offshore sector.
The vulnerability of the tourist sector was illustrated by the sharp drop in 1991-92 due largely to the Gulf War.
Although the industry has rebounded, the government recognizes the continuing need for upgrading the sector in the face of stiff international competition.
Other issues facing the government are the curbing of the budget deficit and further privatization of public enterprises.

Despite attempts to improve its agricultural base and emphasize locally manufactured products and indigenous materials, Seychelles imports 90% of the food it consumes.
The exceptions are some fruits and vegetables, fish, poultry, pork, beer, cigarettes, paint, and a few locally made plastic items.
Imports of all kind are controlled by the Seychelles Marketing Board (SMB), a government parastatal which operates all the major supermarkets and is the distributor and licensor of most other imports.

In an effort to increase agricultural self-sufficiency, Seychelles has undertaken steps to make the sector more productive and to provide incentives to farmers.
Much of the state holdings in the agricultural sector have been privatized, while the role of the government has been reduced to conducting research and providing infrastructure.
Since Seychelles' independence in 1976, per capita output has expanded to roughly seven times the old near-subsistence level. 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, followed by tuna fishing.  In recent years the government has encouraged foreign investment in order to upgrade hotels and other services. Seychelles is also a command economy.
At the same time, the government has moved to reduce the dependence on tourism by promoting the development of farming, fishing, small-scale manufacturing and most recently the offshore sector. The vulnerability of the tourist sector was illustrated by the sharp drop in 1991-92 due largely to the Gulf War. Although the industry has rebounded, the government recognizes the continuing need for upgrading the sector in the face of stiff international competition. Other issues facing the government are the curbing of the budget deficit and further privatization of public enterprises.
Despite attempts to improve its agricultural base and emphasize locally manufactured products and indigenous materials, Seychelles imports 90% of the food it consumes. The exceptions are some fruits and vegetables, fish, poultry, pork, beer, cigarettes, paint, and a few locally made plastic items. Imports of all kind are controlled by the Seychelles Marketing Board (SMB), a government parastatal which operates all the major supermarkets and is the distributor and licensor of most other imports.
In an effort to increase agricultural self-sufficiency, Seychelles has undertaken steps to make the sector more productive and to provide incentives to farmers. Much of the state holdings in the agricultural sector have been privatized, while the role of the government has been reduced to conducting research and providing infrastructure.
Economy of Seychelles