Mahé, Seychelles Hotels and City Guide

Mahé - Business Tips

Local Economy

With tourism and fishing declining during 2008, the IMF bailed the country out with a 2-year rescue package that came with strings attached. It had to lay off nearly 2,000 government workers, sell off state assets, lift foreign exchange controls and float its currency. The value of the Seychelles rupee plummeted immediately resulting in the price of imports doubling.

2009 was no better as not only did the global recession hit, but piracy became a major problem in the Indian Ocean. However, Seychelles weathered the financial storm.

In 2011 tourism is the major industry and employer. The construction industry is booming as land is being reclaimed for the building of luxury tourist accommodation, marinas with freehold houses and apartments for purchase by non-Seychellois, and time-share complexes, making it an exciting place for architects. But the country still has a centrally controlled economy with no major shareholdings in the forex-exporting hotels, the majority of which are owned by foreign investors who are offered tax incentives. One can only hope that the islands’ natural pristine beauty and unique and fragile ecology will survive the massive tourist onslaught.

Seychelles is a very expensive destination as it relies heavily on imports, in particular fuel and foodstuffs, with machinery, equipment and chemicals making up the balance. The main export (90%) is tinned tuna, while giant clams, prawns, and black pearl oysters are farmed for export. Trading partners are South Africa, UAE, India, Singapore, Japan and Europe.

Fishing is a local occupation and cattle, chickens, pigs and vegetables are farmed. Tea is grown on Mahé’s mountain slopes. There is an abundance of local tropical fruit. Seychelles brews its own beer, Seybrew and Ecu.

Cable & Wireless and Airtel ensure good telephone, fax and e-mail connections, and there is a mobile phone network. There are about five Internet cafés and seven ATMs in Victoria. Euros is the chosen currency for business. Seychelles provides registration facilities for foreign companies. It is developing its financial services sector.

The Local Population

Primary and secondary schools accommodate a third of the population who are under the age of 18. There is a school for talented children, a modern Polytechnic College, a hotel training school, the American University of Medicine and the University of Seychelles offering degrees in business studies and engineering. The country has doctors, pilots, engineers, teachers, computer boffins and businessmen.

40% of the population is employed, the minimum wage is far higher than in neighbouring African states resulting in a higher standard of living for the Seychellois, and the literacy rate is an enviable 96%. But this social development comes at a cost. The country is not self-sufficient and has a balance of trade deficit. To rectify the situation, land and islands are being sold to Arabs, Russians, South Africans and Mauritians. To buy property a foreigner is in theory required to have a Seychellois partner.

Business Etiquette

Office hours are Mon-Fri 08.00-16.00.

Because of the hot, humid climate, suits and ties and not worn by businessmen. Cool short-sleeved cotton shirts and casual trousers are the norm for men and knee-length dresses or skirts for women.

As life is very casual in Seychelles, meetings are laidback, first names are used, business cards are rare and gifts are not expected. Punctuality is not always adhered to.

The Seychellois do not bargain in meetings and decisions are taken without too much negotiation.

Smoking is only permitted out of doors.

Hotels in Mahé, Seychelles