Catalyst Seychelles

On Monday 20th, Catalyst organized its first Cryptocurrency & Blockchain meet-up event at Blend: Seychelles with the help of Mr. Josef Je, founder of PWNfinance - PWN is a permissionless p2p lending platform turning illiquid digital assets into productive ones - In this meet-up, Josef spoke about the Blockchain and cryptocurrencies - coins vs tokens - DeFi (Decentralized Finance) - DAOs (Decentralized Autonomous Organizations) - NFTs, Gas Fees and he also exchanged with participants on the opportunities in the digital asset and blockchain space. It was a wonderful day ! Thank you Josef Je for an enlightening and entertaining presentation. Thank you to all the participants who were actively involved in or seeking to learn more about, the digital assets, crypto, and blockchain industry in Seychelles.

The Central Bank of Seychelles has released its Key Economic developments report for April 2021.

Here's a few key points :

1. Price development - The overall Consumer Price Index (CPI) rose by 0.4% in April 2021 compared to the previous month.

2. Tourism outcome - The main source markets during the month were Russia (3,726 tourists), Israel (2,787 tourists) and the United Arab Emirates (1,778 tourists).

3. Exchange rate movements - in April 2021, the SCR traded at an average of 16.9590 against the USD and at 20.1984 vis-à-vis the EUR. This was a strengthening of 21 per cent against both currencies, or R4.45 and R5.35, against the USD and EUR, respectively, in month-on-month terms.

You can read more & download it here : https://www.cbs.sc/Publications/KeyEconomicDevelopments.html

www.cbs.sc

According to the latest figures published by Seychelles Bureau of Statistic, the number of tourists coming into the Seychelles has recovered to 44% of 2019 levels. With still a long way to go until the country gets anywhere close to 2019 figures, the tourism industry is still feeling the pressure of the contracting in demand.

Do you feel the recovery of the local tourism industry is going at the pace you expected or is there more that we can do as a destination to bring more visitors to our shores? 🤔🤔

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At Catalyst, we explore the strategies best suited for your accommodation and provide business owners with the knowledge and skills needed to survive this competitive business environment.

We believe that with the right tools, like Revenue Management, businesses will be able to unlock their full potential and strategically position themselves ahead of the competition.

Get in touch with us for a consultation with our Revenue Management expert to optimise your strategy. 📈

📩[email protected]

As the month of March draws to an end, excitement within the business community grows as the next peak in international arrivals is within our sights. The Seychelles is set to open its borders to the World which has strategically positioned the country to welcome anyone and

everyone. Hoteliers, Small & Medium accommodations and many more businesses that rely on the tourism industry, are itching to make up all of the financial loss over the last 3 months. However, as we saw in late November and December last year, such opportunities last only momentarily. Demand is seasonal and with the fear of Covid-19 still haunting the memories of most travellers, a sudden rise in cases can result in demand contracting to levels seen mid-January 2021.

The aim for these business owners is to maximise the opportunities presented to them as much as possible. With supply significantly outweighing the demand, everyone wants a piece of the pie. Pricing will need to be even more aggressive and business owners will have to go the extra mile in attracting a guest to their accommodation. Promotions, free additional services (taxi, beverages, ect...) and upgrades are examples of the tools that can be used to influence the customers decision.

The tourism industry is no longer that of what it was prior to Covid-19. The industry must become more dynamic whilst being cost effective to survive this new business environment.

We believe that with the right tools, like Revenue Management, some businesses will be able to unlock their full potential and strategically position themselves ahead of the competition. Through market segmentation and analytics, you will be able to attract the clientele that will help your business grow and give you confidence in your decision making leading towards the goal of maximising revenue and profit margins.

Get in touch with us for a consultation with our Revenue Management expert Josh Larue to optimise your strategy. 📈

📩[email protected]

Per Statista, in 2018, the percentage of consumers who made at least one purchase online in the previous 12 months grew to 93% of internet users in the U.S., 97% in the UK, and 92% in China. The market of developed countries is in its maturity phase, and the competition among eCommerce players is extremely high and cost-intensive. Marketplaces like Amazon and AliExpress are flourishing, while many stand-alone retailers struggle to find their USP as brand and store loyalty are decreasing and cart abandonment rate in the industry is at 75%. Increasing brand engagement can be achieved through community building (e.g., ASOS Marketplace), loyalty programs, and a seamless mobile and desktop user experience.

https://www.statista.com/outlook/243/316/ecommerce/seychelles

eCommerce - Seychelles | Statista Market Forecast Seychelles: Revenue in the eCommerce market is projected to reach US$15m in 2021. The eCommerce market encompasses the sale of physical goods via a digital channel to a private end user (B2C).

A very insightful article on the impact of climate change on small island state like Seychelles: more scientific evidence of high risks.

https://climateanalytics.org/blog/2020/climate-change-and-small-islands-more-scientific-evidence-of-high-risks/

Climate change and small islands: more scientific evidence of high risks Small island developing states (SIDS) have long been recognised as being particularly vulnerable to the impacts of climate change. In a recently published article our researchers added further scientific evidence that island states are particularly at risk, and face unique challenges in addressing i...

Tourism Experts Fear Long Road to Recovery 📈

"Coming off the worst year in tourism history, there’s little sense of optimism in the travel industry in early 2021. Following an estimated $1.3 trillion loss in export revenue in 2020, travel restrictions are being reintroduced at the start of the new year, as governments are trying to curb the spread of new, potentially more dangerous variants of the novel coronavirus...."
Says expert from Statista.

Infographic: Tourism Experts Fear Long Road to Recovery This chart shows when tourism experts expect international tourism to return to pre-pandemic levels.

A company can outperform rivals only if it can establish a difference it can preserve. It must deliver greater value to customers or create comparable value at a lower cost, or do both. However, Porter argues that most companies today compete on the basis of operational effectiveness. - Porter M. E. 1996.

Professor Michael Porter, in an interview with Charlie Rose "There is an historic opportunity right now for business and government to work together [to restore U.S. competitiveness]." Professor Porter discusses the e...

Be confident with your projections for the future. How will the expected policies in Seychelles geared towards health and financial assistance to businesses impact your bottom line ? 📅

Get in touch with us for a free consultation with our economic and financial experts to optimise your strategy. 📈

📩[email protected]

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