United States. Central Intelligence Agency

“ Growth slowed in 1998-2002, due to sluggish tourist and tuna sectors. Also, tight controls on exchange rates and the scarcity of foreign exchange have impaired short-term economic prospects. The black market value of the Seychelles rupee is half the official exchange rate; without a devaluation of the currency the tourist sector should remain sluggish as vacationers seek cheaper destinations such as Comoros, Mauritius, and Madagascar. ”

“ 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 in order to upgrade hotels and other services. ”

“ Constitution: 18 June 1993 Legal system: based on English common law, French civil law, and customary law Suffrage: 17 years of age; universal Executive branch: chief of state: President James MICHEL (since 14 April 2004) ; note - the president is both the chief of state and head of government
elections: president elected by popular vote for a five-year term; election last held 31 August-2 September 2001 (next to be held NA 2006)
election results: France Albert RENE re-elected president; percent of vote - France Albert RENE (SPPF) 54.19%, Wavel RAMKALAWAN (UO) 44.95%, Philippe BOULLE 0.86% ”