Services alone accounts for 71% of Seychelles Gross Domestic Product (GDP) driven mainly by the Tourism and Financial services. In that same period of 2013, tourism alone accounted for 30% of the GDP. With the rise in hotels and other development namely; ‘Carnaval International de Victoria’ to this sector, tourism arrival was recorded as 230, 272 yearly.
With the decrease in its traditional tourism markets, Seychelles is diversifying into different markets and penetrating the Asian, African and Arab markets. This has been achieved through the introduction of the Mihin Lanka Airline and with the National airline signing new code share agreements. With a view to expanding its network Air Seychelles has added to its list of destinations, Tanzania, Madagascar and Mumbai, which will commence in December.
Financial services for the year 2013 accounted for 5.4% of the Seychelles GDP. Seychelles boast a total of 8 commercial banks with the new additions being the Sri Lankan Bank of Ceylon and Pakistani Bank Al Habib in 2014. Seychelles maintains the aspiration to provide a more vibrant financial sector for continuous trade and other business opportunities.
Services sector incorporates other sector namely; Business services; Communication services; Construction services; Distribution services; Educational services; Environmental services; Health and social services; Recreational, cultural and sporting services and Transport services.