The Economic Consequences in Seychelles in 2020
Mon, 06 July 2020
The Seychelles government has revealed that about 230 Seychellois and more than 170 foreigners have lost their jobs due to the COVID-19 pandemic. The situation is likely to get worse, as the Employment Department estimates that another 4,000 people will lose their livelihoods due to the economic impact caused by the spread of the COVID-19 virus.
Data from the Employment Department show that from March to July, more than 100 companies applied to make redundancies under the Employment Law. The Minister of Employment, Miriam Telemaque, told the media that out of these 100 applications, that 33 out of these 100 have already been processed and approved, whose consequences are the presence of 171 emigrants and another 228 Seychellois who lose their jobs. The focus remains on the goal of keeping Seychellois in their jobs, although both foreigners and Seychellois are expected to be economically affected.
The tourism sector, which accounts for most of Seychelles' revenues, is hit the hardest. In the last 3 months, the country has not received tourists, which has led to a strong impact on the hotel business and tourist services, to the extent that some of them are closed.