Seychelles Could Gain 2,900 Jobs as World Bank Maps Path to Higher Pay

Finance, Economic Planning, Trade and Investment Minister Pierre Laporte said continued reforms supporting productivity, innovation and private-sector growth would be necessary to achieve Seychelles’ ambitions.

Better wages, more job openings and stronger prospects for young people could shape Seychelles' next chapter if the country carries out reforms to raise productivity, according to a new World Bank report. Its projections suggest the changes could increase GDP by 13% by 2040, create 2,900 additional jobs and generate the equivalent of more than 7,600 better-paying jobs, giving families a greater share in the country's economic progress.

The report, 2026 Seychelles Country Growth and Jobs Report: Modernize, Utilize, Digitalize: How to Raise Productivity to Deliver Growth, Good Jobs, and Social Mobility, estimates that real wages could rise by almost 8% and household purchasing power by more than 8%. These potential gains depend on a coordinated reform package that helps businesses operate more effectively, strengthens people's skills and expands the use of digital technology.

Strong Living Standards Face Growing Pressure

More than three decades of economic growth have given Seychelles Africa's highest income per capita, according to the release, but sustaining that success is becoming harder as the population ages and employers struggle to find the skills they need. The country's small size and geographic isolation add vulnerabilities that make a more productive economy increasingly important for protecting living standards and widening opportunities.

Finance, Economic Planning, Trade and Investment Minister Pierre Laporte said continued reforms supporting productivity, innovation and private-sector growth would be necessary to achieve Seychelles' ambitions. He described the report as a source of guidance for creating opportunities for young people, generating jobs and strengthening competitiveness, connecting the broader economic agenda with the everyday concerns of Seychellois families.

Better Business Rules and Skills Can Open Doors

The report's "Modernize" priority focuses on making it easier for firms to invest, grow and recruit by updating labor regulations, improving the management of foreign labor and reducing barriers to trade and investment. Strengthening commercial justice forms another part of this agenda, alongside tackling the high costs and obstacles that limit business activity and hold back productivity.

Its "Utilize" priority puts education, workforce skills and youth vulnerability at the centre of the growth discussion, recognizing that economic opportunities depend on people being prepared and supported to take them. Stronger pathways from school into employment could help young Seychellois build careers and give employers access to the capabilities they need, making better use of the country's human capital.

Fily Sissoko, the World Bank's division director responsible for Seychelles and several other countries in the region, said the country's next challenge was to keep creating quality jobs and raising incomes after an impressive development record. He highlighted targeted changes across labor markets, human capital and digital transformation as a route towards a more competitive, resilient economy with wider opportunities for future generations.

Digital Access Could Help Deliver Higher Incomes

The "Digitalize" priority addresses gaps in technology adoption that are limiting innovation and business growth, with recommendations to improve internet quality and affordability, expand digital government services and strengthen digital skills. Better access and greater confidence in using technology could support entrepreneurs, improve business productivity and make public services work more effectively for the people who depend on them.

The World Bank says the three reform areas would have their greatest impact when implemented together, with improvements in business conditions, skills and technology reinforcing one another. Some measures would require investment at the outset, but the report expects those costs to be modest compared with the longer-term benefits of stronger growth, better employment and improved public finances, making implementation central to turning the projections into tangible gains for households.