Seychelles richest African country, according to Global Finance Magazine

Seychelles has been listed as the richest country in Africa in the Global Finance Magazine edition released on December 21.

According to the magazine, Seychelles is ranked 56th in the world and tops the list for African countries with a gross domestic product (GDP) and purchasing power parity (PPP) of $39,662.

Seychelles, an archipelago in the western Indian Ocean, has a population of just over 100,000 people, and its economy depends primarily on tourism and fisheries

In 2023, up to November, Seychelles welcomed 317,915 tourists, contributing $873 million to the economy from January to November, a 4.8 percent increase over the same period in 2022.

The Global Finance Magazine states that “many of the world’s richest countries are also the world’s smallest: the pandemic and the global economic slowdown barely made a dent in their huge wealth.”

Source: sychellesnews