Seychelles Update
Once the playground of the rich and famous, the islands of the Seychelles is now becoming the island of debt. Due to the economic downturn, the tourist trade has dwindled and the country is ending up in trouble with the amount of debt equaling the worth of the country’s economy. The government has initiated measures to counteract this by selling off some of the government’s assets and equipment to cover for their operating expenses.
This may be the fate of many of the world’s tourist destinations where many countries depend on as a major industry. People on the coasts of the world’s best beaches rely solely from income that the tourist trade brings in but with dwindling numbers, the outlook in not good indeed. Life is getting harder and imagine a country whose overall debt is equal to what it’s worth? Not a pretty picture indeed but reality is harsh and people may have to seek different sources of income if they are to survive this economic recession.