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Tourism Boosts Seychelles Economy

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A recovery in tourism will help the Seychelles' economy grow by a faster-than-expected 3.5 percent this year, then accelerate to 4 percent by 2015, the country's finance minister said.

The tourism sector, the country's economic mainstay, has been battling to fill hotel beds during the global economic slowdown. Long known as a playground for royals and tycoons, the Indian Ocean archipelago has been turning to Asia in search of new business.

"This stronger growth will be supported primarily by continued recovery of our principal European tourism markets and expansion of new markets," finance minister Pierre Laporte told parliament in his 2014 budget reading.

Laporte told parliament the Seychelles' public debt would fall to 69 percent of national output. He forecast a primary surplus of 4.4 percent of gross domestic product in 2014, after a revised 5.2 percent this year.

(Reuters)

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