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Main article: Economy of Seychelles
Since independence in 1976, per capita output has expanded to roughly seven times the old near-subsistence level. Growth has been led by the tourist sector, which employs about 30% of the labour force and provides more than 70% of hard currency earnings, and by tuna fishing. In recent years the government has encouraged foreign investment in order to upgrade hotels and other services.
At the same time, the government has moved to reduce the dependence on tourism by promoting the development of farming, fishing, and small-scale manufacturing. The vulnerability of the tourist sector was illustrated by the sharp drop in 1991- 1992 due largely to the Gulf War and once again following the September 11, 2001 terrorist attacks on the US. Other issues facing the government are the curbing of the budget deficit, including the containment of social welfare costs, and further privatisation of public enterprises.
Growth slowed in 1998- 2001, due to sluggish tourist and tuna sectors. Also, tight controls on exchange rates and the scarcity of foreign exchange have impaired short-term economic prospects. The black market value of the Seychelles rupee is half the official exchange rate; without a devaluation of the currency the tourist sector should remain sluggish as tourists seek cheaper destinations such as nearby Comoros, Mauritius, and Madagascar.
Main article: Demographics of Seychelles
As the islands of the Seychelles had no indigenous population, the current Seychellois are composed of immigrants, mostly of French, African, Indian and Chinese descent. French and English are official languages along with a French-based Creole. Most Seychellois are Christians, mostly Catholics.
Main article: Culture of Seychelles
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