Seychelles has one of Africa’s strongest economic stories, but a new World Bank Group report warns that without smart, climate‑resilient investments, environmental risks could cut GDP by more than 6% by 2050. The Country Climate and Development Report (CCDR), released with the Seychelles government, charts a path to sustain growth, create thousands of quality jobs, and protect livelihoods through targeted reforms in tourism, fisheries, energy, infrastructure, and skills.
Seychelles Finance Minister Pierre Laporte welcomed the CCDR as a strategic tool for the country’s climate leadership and economic resilience. Tourism and fisheries, which employ much of the workforce and drive most foreign exchange, face growing threats from rising sea levels, coastal erosion, marine heatwaves, and extreme rain. The report calls for shifting both toward higher‑value, more resilient models that protect existing jobs while opening new opportunities across their value chains.
Scaling up local renewable energy could cut electricity costs by 20% and reduce reliance on volatile imported fuel, creating jobs in installation, maintenance, and related services. World Bank Resident Representative Boubacar‑Sid Barry said smart investments can deliver stronger growth, better jobs, and lower risks without forcing Seychelles to choose between expansion and protection. Upgrading coastal defenses, transport, water systems, and skills training for tourism, energy, construction, and agriculture will be critical to halve future economic losses and match workers to rising demand.
The CCDR proposes three priorities: reorienting key sectors for resilience and higher value; reducing exposure through targeted infrastructure; and strengthening fiscal and institutional foundations. This will require $810 million over 25 years — about 2.8% of GDP annually for five years — alongside reforms to attract private capital and shore up public finances. The framework will guide future World Bank support through the Seychelles Country Partnership Framework for 2025–2030.
