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Economy of Seychelles
The economy of Seychelles is based on fishing, tourism, processing of coconuts and vanilla, coir rope, boat building, printing, furniture and beverages. Agricultural products include cinnamon, sweet potatoes, cassava (tapioca), bananas, poultry and tuna.
The public sector, comprising the government and state-owned enterprises, dominates the economy in terms of employment and gross revenue, employing two-thirds of the labour force. Government consumption absorbs over one-third of Seychelles's GDP.[citation needed]
The French originally settled the Seychelles in 1770, setting up plantations which relied heavily on slave labour to produce cotton, sugar, rice, and maize. The British took control of the Seychelles during the Napoleonic Wars without removing the French upper class.
After the British prohibited slavery in 1835, the influx of African workers did not end because British warships captured Arab slavers and forced the liberated slaves to work on plantations as apprentices without pay.
In the 1960s, about 33% of the working population worked at plantations, and 20% worked in the public or government sector.
Plantations were the main industry of the Seychelles until 1971, when the international airport opened. Overnight, tourism became a serious industry, basically dividing the economy into plantations and tourism. The tourism sector paid better, and the plantation economy could only expand so far.
The plantation sector of the economy declined in prominence, and tourism and fishing became the primary industries of Seychelles. In the 1960s, about 33% of the working population worked at plantations, but by 2006 it was less than 3%.
While the tourism and industrial fishing industries were flourishing in the late 1990s, the traditional plantation economy atrophied. Cinnamon barks and copra—traditional export crops—dwindled to negligible amounts by 1991. There were no exports of copra in 1996; 318 tons of cinnamon bark was exported in 1996, reflecting a decrease of 35% in cinnamon bark exports from 1995.
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Economy of Seychelles
The economy of Seychelles is based on fishing, tourism, processing of coconuts and vanilla, coir rope, boat building, printing, furniture and beverages. Agricultural products include cinnamon, sweet potatoes, cassava (tapioca), bananas, poultry and tuna.
The public sector, comprising the government and state-owned enterprises, dominates the economy in terms of employment and gross revenue, employing two-thirds of the labour force. Government consumption absorbs over one-third of Seychelles's GDP.[citation needed]
The French originally settled the Seychelles in 1770, setting up plantations which relied heavily on slave labour to produce cotton, sugar, rice, and maize. The British took control of the Seychelles during the Napoleonic Wars without removing the French upper class.
After the British prohibited slavery in 1835, the influx of African workers did not end because British warships captured Arab slavers and forced the liberated slaves to work on plantations as apprentices without pay.
In the 1960s, about 33% of the working population worked at plantations, and 20% worked in the public or government sector.
Plantations were the main industry of the Seychelles until 1971, when the international airport opened. Overnight, tourism became a serious industry, basically dividing the economy into plantations and tourism. The tourism sector paid better, and the plantation economy could only expand so far.
The plantation sector of the economy declined in prominence, and tourism and fishing became the primary industries of Seychelles. In the 1960s, about 33% of the working population worked at plantations, but by 2006 it was less than 3%.
While the tourism and industrial fishing industries were flourishing in the late 1990s, the traditional plantation economy atrophied. Cinnamon barks and copra—traditional export crops—dwindled to negligible amounts by 1991. There were no exports of copra in 1996; 318 tons of cinnamon bark was exported in 1996, reflecting a decrease of 35% in cinnamon bark exports from 1995.