Seychelles

Located off the eastern coast of Africa in the Indian Ocean, this former British colony consists of an archipelago of 115 islands, with the majority of its 100,000 inhabitants living on the three main islands of Mahé, Praslin, and La Digue. Endowed with unique biodiversity, much of the land is protected as part of nature reserves. Economic growth over the last few decades has been led by tourism and fisheries, attracting significant foreign investment. Today, the archipelago is the most prosperous nation in Sub-Saharan Africa, and its citizens enjoy good healthcare, education and overall quality of life.

Still, the business climate faces challenges. An inefficient regulatory framework, poor access to financing, an underdeveloped formal labor market, and the state’s excessive presence in the economy hinder the emergence of a dynamic private sector beyond the tourism industry. Additionally, its island location makes it especially vulnerable to climate change.