The 2026 Seychelles Country Growth and Jobs Report found that the proposed changes could also generate the equivalent of more than 7 600 better-paying jobs.
Real wages could rise by almost 8%, while household purchasing power could increase by more than 8%, improving living standards and expanding economic opportunities. “Seychelles has ambitious goals for the future, and achieving them will require continued reforms that support productivity, innovation and private-sector growth,” Seychelles Minister for Finance, Economic Planning, Trade and Investment Pierre Laporte said.
“This report provides important insights to help guide our efforts to create opportunities for young people, generate jobs, strengthen competitiveness and improve living standards for all Seychellois.”
Seychelles has recorded more than three decades of economic growth and achieved Africa’s highest income per capita.
However, an ageing population, skills shortages, high business costs and vulnerabilities associated with the country’s small size and geographical isolation are placing pressure on future growth.
The report also identified barriers affecting private-sector investment, youth employment and digital adoption. “Seychelles has built an impressive development record and achieved one of Africa’s highest standards of living,” World Bank Division Director for Mozambique, Madagascar, Mauritius, Comoros and Seychelles Fily Sissoko said.
“The next challenge is to unlock higher productivity and continue creating quality jobs, raising incomes and expanding opportunities for future generations.”
The World Bank identified modernisation, better use of human capital and digitalisation as three priorities.
Labour regulations should be updated, while foreign labour management, trade and investment rules and commercial justice require reform to support business expansion and job creation.
Seychelles should also address youth vulnerability, improve education and workforce skills and strengthen pathways between school and employment.
Digital reforms should focus on improving the quality and affordability of internet services, expanding digital government platforms and strengthening digital skills. “Targeted reforms in the labour market, human capital and digital transformation can help the country build a more competitive, resilient and inclusive economy,” Sissoko said.
The report said implementing the reforms together would produce the strongest results.
–WorldBank/ChannelAfrica–
