Developments in Cape Verde Tourism

According to figures from Cape Verde’s national statistics institute (macauhub), Cape Verde's hotels welcomed 233,000 tourists last year, 26.4 per cent more than during the previous year, with Sal Island becoming even more popular as the main tourist hub of the islands.

Foreign direct investment (FDI) in Cape Verde last year also focused on the tourist economy, investing a total of US$250 million into the sector.

This month, measures have been drawn up by the Directorate-General for Tourism Development in Cape Verde to create a Code of Conduct to establish sustainable tourism.  This will be presented on 27 September 2006 on World Tourism Day.  The Code of Conduct will define objectives for managing resources and establishing competitiveness within the tourism sector. Included in these proposals are measures for saving and re-using water, managing power resources, implementing renewable energy as well as optimising environmental resources and waste treatment methods.

This development in the tourism sector is now key to the strength of Cape Verde’s growing economy today.  While a healthy tourist market is vital for property investment in many emerging markets such as Cape Verde, all indications show Cape Verde still represents a good investment in a booming market.