Innovation in economic sectors for structural transformation

Seychelle’s growth has been fuelled largely by developments in services, particularly tourism and related sectors. While Seychelles can benefit from economic diversification, opportunities during periods of growth are lost. Structural transformation processes, usually characteristic of innovation-led growth, have stalled in Seychelles since 2005. A key indicator of dynamic and active development is the presence of structural transformation processes. In Seychelles, these have been modest since 2004. Structural transformation can be defined as the movement of labour and other productive resources from economic activities of low-productivity to high-productivity (UNCTAD, 2016). Alternatively, structural transformation may be seen as the reallocation of economic activity, expressed as their share in GDP, across three broad sectors: agriculture, industry and services (Herrendorf et al., 2013).

Sustainable Development Goals:

Affordable and Clean Energy

Decent Work and Economic Growth

Industry, Innovation and Infrastructure