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Seychelles moves to World Bank’s rich list as income per capita increases

Published on July 06, 2015

The Seychelles archipelago of 90,000 people has been accepted into an exclusive club of 83 nations on the World Bank’s ‘high income’ list.

The Seychelles, together with Argentina, Venezuela, and Hungary, have all graduated to the top earners list this year.

In a press statement issued on Thursday afternoon, the Seychelles President, James Michel, welcomed the recognition of Seychelles’ economic progress from the international institution.

“A combination of factors has enabled us to achieve this graduation, not least, the successful economic reform programme undertaken since 2008, the diversification of our economy and the growth of investment in tourism,” said President Michel, who had in June 2014 spoken publicly about the prospect of Seychelles joining the high-income group, which was reinforced by a US-based analyst’s report that this was ‘highly likely.’

“The hard work, resilience and innovation of the Seychellois people has brought results and we are committed to continue on this path. We have achieved this together, and if we all continue to work together we can achieve much more for our country and people.” Read more. Source | Seychelles News Agency