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| Cape Verde - Key Factors: |
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The Cape Verde Islands are a tropical archipelago comprising nine inhabited islands, plus an uninhabited island and eight islets, in the Atlantic Ocean. The islands are located 500 km west of the coast of Senegal (West Africa) and 2,400 km north-east of the coast of Brasil (South America). The islands are dispersed over an area of approximately 300 km north to south by 400 km east to west.
More commonly known for their proximity to the Canary Islands and for being based on the same latitude as Barbados, Cape Verde is home to Europe's closest tropical islands. Yet it's just a five-and-a-half hour direct flight from London and with only a one hour time difference visiting Cape Verde is refreshingly jet-lag free, unlike the Caribbean. With the opening of a new international airport on Santiago, the largest island and site of the capital, getting to Cape Verde will be easier than ever.
It is widely believed that Cape Verde is currently on the brink of an economic boom. Heavy investment in tourism and increased foreign investment in property and infrastructure create a perfect environment for fantastic returns on investment within this emerging market. With increased direct flight services to Cape Verde from Europe, the islands' true potential as a mainstream holiday destination is confirmed.
The appeal of Europe's first tropical island tourist destination continues to draw increasing numbers of visitors to the islands each year. The first quarter of 2007 experienced its largest growth, the National Statistics Institute have shown an increase in hotel occupancy in the first six months of 2007, when compared to the same period in 2006. 156,215 holidaymakers checked into Cape Verdean hotels in this period, which was an increase of 15.5%. Even better was the tri-mester result which rose 25% in 2007 when compared to 2006. These figures are expected to soar to 500,000 by 2015.
Investment in Cape Verde is increasing rapidly as investors and holiday home purchasers become aware of its unrivalled potential. Capital growth estimates are currently running above 15% per annum, with higher luxury frontline beach developments reporting increases of up to 20% per annum.
KEY FACTORS:
Political and economic stability with continuing growth
IMF reports steady 6% growth in GDP
Currency linked to the Euro
12 month holiday season
Voted in the top 10 tourist destinations for 2007 by Expedia.com
Ongoing phased investment and construction into both Sal and Santiago airports has resulting in increased routes from scheduled airlines.
Livingston and Hapagfly have each added an additional weekly flight from Germany, Astraeus offers charter flights from London Gatwick and Manchester, and TACV will operate a twice weekly flight between Stanstead and Praia from October 2007. Massive external investment into developments to cater for increased access from Europe, including over 2.5 billion euros by Cape Verde Developments and 100 million euros investment from Nikki Beach into entertainment resorts |
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Colours of the Atlantic Ocean |
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South west side of S.ta Maria beach, Sal's Island |
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Colours of the sands by the ocean |
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South-east side of s.ta Maria beach, Sal's Island |
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