Investing in Cape Verde in 2018
A beautiful location. An eye-catching investment
The crystal-clear waters. The flawless beaches. The endless sunshine. It’s little wonder Cape Verde remains increasingly popular as a tourist destination. It’s also hardly surprising that with ever-growing numbers choosing to holiday in this still unspoilt paradise, opportunities for investors continue to look healthy.
The Islands have seen steady growth for a number of years now. Despite the 2008 global economic recession, Cape Verde remained strong and the tourists continued to arrive. It meant that by 2011, Cape Verde had been named one of the top ten tourism destinations by the popular tourist guide, The Lonely Planet. Not only that, it’s stunning sandy beaches have caught the attention of traveller’s worldwide, with Santa Monica Beach, Boa Vista being awarded the coveted Trip Advisor Award for the World’s Top 25 Beaches.
For investors, the good news is that this growth in popularity shows no signs of abating, with every projection showing an upwards trajectory for tourism. Recent figures from the World Travel & Tourism Council (WTTC) – published in the ‘Travel & Tourism Economic Impact 2017 Cape Verde’, report more than a decade and a half of consistent growth for the Islands. The total contribution of the travel and tourism sector to GDP in Cape Verde in 2016 was 44.5%, which was forecast to rise by 8.6% in 2017, and by a further 6.5% per annum to 57.3% of GDP by 2027. Moreover, with Cape Verde expected to have received more than half a million international tourists in 2017, tourist levels are predicted to rise to nearly three-quarters of a million (728,000) by 2027, generating expenditure of CVE78.8 billion.
The Daily Telegraph Travel’s Rachel Cranshaw, who visited Sal in Cape Verde last year, has also predicted its popularity will continue to rise. “Its main selling points are that it’s a six-hour direct flight from the UK, with little or no time difference, and better guaranteed year-round sunshine than the Canaries,” she notes. “But it’s much cheaper – and closer than the Caribbean.”
Hotels on the Islands are also gaining plaudits. The MELIÃ Llana Beach Resort & Spa in Cape Verde has just received the TUI Top Quality Winner 2018 Award. Launched in 2015, the TUI Top Quality is an award reserved for the very best TUI hotels – the absolute favourites as declared by guests. The conditions of winning include at least 30 assessments from the TUI guest survey within twelve months, scoring at least 8.7 out of 10 possible points, performing and passing the TUI Safety Check and signing TUI Deutschland’s Pool Safety Declaration.
It is yet another cause to celebrate for the MELIÃ Llana Beach Resort & Spa as this is an award based on the feedback from guests during their stay throughout this year. The accolade is an especially impressive feat, coming just before the Resort’s one year anniversary.
MELIÃ Llana Beach Resort & Spa is not the only Resort celebrating, as MELIÃ Tortuga Beach Resort is also among the winners of the TUI Family Champion 2018. This is a brand new quality award reserved for the very best TUI family hotels – selected by families, for families. Eligible Resorts must achieve an excellence rating on the TUI guest survey of at least 8.7 out of 10 possible points in the ‘child friendliness’ category.
Buoyed by such growing popularity, positive press commentary and industry awards, Cape Verde has also been named number one on Google for ‘most searched for holiday destinations’.
Protected from overdevelopment
For investors, an attractive element is the fact that Cape Verde is fiercely protected from overdevelopment. This protects the returns available as tourist demand is likely to continue to outstrip supply for many years. Strict government legislation allows only low-level and low-density projects to proceed. This means that the beauty and natural character of the Islands will always remain intact, which is great news for your Cape Verde property investment.
With the tourism boom set to continue into the next few years and beyond, now could be the perfect time to invest in a Cape Verde Resort property. To find out more about investment opportunities and how the increase in visitors has a positive impact on returns, get in touch with the team today via the contact page.