Try Comoros, Mauritius, and Madagascar
Many tourists travel to these alternative destinations because of their similarity and the fact that they do not have as high of prices for accommodation, travel and other daily expenses, which incur in Seychelles due to the island's high exclusivity. Or viewed in another perspective: The Seychelles are small disperse mountainous islands with poor transport infrastructure, prices in the tourism related industry will always remain high as the infrastructure will never be able to cope with mass tourism numbers.
The common perception of Seychelles only offering an expensive accommodation, however, is an unfortunate one as you truly are likely to find accommodation to fit into almost everyone’s budget. Some establishments will offer you a double room for two persons starting at €65. At this cost you will not have many luxuries, but you will have the Creole hospitality that has made these islands so famous.