chief of mission: Ambassador Jean Ronald JUMEAU chancery: 800 Second Avenue, Suite 400C, New York, NY 10017 telephone: [1] (212) 972-1785 FAX: [1] (212) 972-1786
Diplomatic representation from the US:
the US does not have an embassy in Seychelles; the ambassador to Mauritius is accredited to Seychelles
Flag description:
five oblique bands of blue (hoist side), yellow, red, white, and green (bottom) radiating from the bottom of the hoist side
Economy
Seychelles
Economy - overview:
Since independence in 1976, per capita output in this Indian Ocean archipelago has expanded to roughly seven times the pre-independence, near-subsistence level, moving the island into the upper-middle income group of countries. 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, and by tuna fishing. In recent years, the government has encouraged foreign investment to upgrade hotels and other services. At the same time, the government has moved to reduce the dependence on tourism by promoting the development of farming, fishing, and small-scale manufacturing. Sharp drops illustrated the vulnerability of the tourist sector in 1991-92 due largely to the Gulf War and once again following the 11 September 2001 terrorist attacks on the US. Economic growth slowed in 1998-2002 and fell in 2003-04, due to sluggish tourist and tuna sectors, but resumed in 2005-07. Real GDP grew by 5.8% in 2007, driven by tourism and a boom in tourism-related construction. The Seychelles rupee was allowed to depreciate in 2006 after being overvalued for years and fell by 10% in the first 9 months of 2007.
GDP (purchasing power parity):
$1.378 billion (2007 est.)