The Seychelles is an exceptionally picturesque and inspiring place in East Africa, a mention of which makes one’s imagination visualize royal resorts, luxury hotels, sunny beaches and delicious food. However, the Seychelles are attractive not only for tourists, but also for entrepreneurs. Nowadays, investors all over the world are seeking opportunities to find new spheres of possible profit, and investing in the tourism industry is becoming more and more popular. Indeed, any kind of business is likely to become prosperous in a region with a year-round tourism season like the Seychelles: the resort season there is not interrupted by any seasonal changes of weather, and the average air temperature is +26°C. Such conditions of non-stop operating are attractive for sponsors and induce them to build their own business there, especially in tourism sector.
Historically, people of African, Asian and European origin have brought their traditions and habits to the Creoles population. This is a relatively young nation, whose culture is not completely formed yet. At the same time, the Creole language is a great world’s cultural heritage. This is why, in honor of the Creole language, various festivals and celebrations are organized in the islands. Such events are accompanied by the native Creole music, which combines Indian, Chinese, Arab, African and European motifs using guitars, African drums, and accordions. Besides, Seychelles have their national theater and a dance called “Moutya” and (“Seychelles Religion + Culture”).
A traditional Seychelles family is oriented towards matriarchy, as women manage the household and control family budgets. Age pyramid of the Seychelles’ population illustrates that the majority of citizens (49,4%) are 25-54 years old. Kids under 14 years old are on the second place (20,53%), and the third group is for 15-24 years old people (13,92%). In general, the population mostly consists of young people (Central Intelligence Agency).
Talking about Creoles’ cuisine, it consists of exotic dishes including seafood cooked with tropical fruits, vegetables and Indian spices (“Seychelles Culture”). The wide variety of sea resources allows the local citizens to serve many original dishes and amaze Seychelles visitors.
Reviewing the economic situation at the Seychelles, it is necessary to pay attention to the following economic factors:
1) GDP percentage by sectors of origin:
- service – 82,4 %,
- industry – 14,6 %,
- agriculture – 3 %.
2) Currency fluctuations. Seychelles national currency has been showing stable status to dollar during the last five years:
- 12.747 (2014 est.)
- 12.747 (2013 est.)
- 13.7 (2012 est.)
- 12.381 (2011 est.)
- 12.068 (2010 est.).
3) Industry orientation. Nowadays, the most developed branch of industry is fishing. The Seychelles has plenty of sea resources, and that is why the country exports such products as tuna, seafood and frozen fish to France, the UK, Italy, Japan, etc. (Central Intelligence Agency).
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Analyzing all the listed information, it becomes obvious that the best idea for setting up a business at the Seychelles is in the service sector. For instance, a viable business idea is opening several fish restaurants that in the future can grow into a net of restaurants located all over the islands. The key goal of the assumed restaurants is to serve high-quality food in a variety of original dishes. Their peculiarity should be in a relaxing atmosphere with tasty Creole seafood, making visitors come to the place again and again. For the successful management of a new restaurant at the Seychelles, it is important to take in consideration the state law, rules of leading a business, legislative system and other aspects.
In far-reaching plans, the supposed company should also focus on developing the production aspect, expanding the business by opening the local stores with seafood and fish. In a long-term perspective, it will be important to be a part of the international trade system to sell these products on a global market.
The decision of restaurant launching is based on economic factors more than on the cultural ones. However, the cultural aspect, such as the specificity of Creole cuisine and the national dishes, can make the business unique. For instance, the most popular local dishes include fish with rice, fermented coconut juice Kalou, beer Sabre and a liqueur made of lemon mint. The use of these extraordinary dishes in the menu will allow the customers to gain the unforgettable impression about the rich culture of the Seychelles.
Analyzing the key spheres that form the economic situation in the islands, it is necessary to realize that service sector plays a major role in Seychelles. In spite of the tendency of weak performance in the tourism sector in 2014, it remains the key sector of direct and indirect investment. Analyzing the current reports, the Seychelles has a positive forecast to increase its indexes in tourism by 2025 (“Travel and Tourism Economic Impact 2015 Seychelles”). Obviously, this facilitates the new restaurant opening, as this business combines both the service sphere and the developed seafood industry.
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The Seychelles Investment Board gives the list of recommendations in the sphere of investment opportunities in the region. Thus, among the top 6 effective ways of investing there is a restaurants business at the Seychelles. Also, this agency develops their special guidelines in the top spheres of investment, which can serve as a manual for the entrepreneurs. The first part of their program concerns the synopsis and background of the future restaurant. It contains the general information about the name – probably it could be Sea Temptation, - as well as the exact address with telephone numbers and the location (in this case, not far from the airport). Also, it is necessary to launch a website with all the contacts, menu, season and holiday specials and other details. The background also describes seating capacity of the restaurant – approximately about 50 seats, one-floor building, with panorama windows and cozy furniture.
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