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Figures show promising future for Cape Verde tourism

Positive tourism statistics from the World Travel & Tourism Council predict a steady rise for both the investment in and the benefits of tourism to the country over the next few years.

The World Travel & Tourism Council is an independent authority that investigates both the economic and social impact these factors have on countries. Specifically focused on promoting sustainable growth, the council engages with government and international organisations to increase employment, drive exports and improve prosperity.

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Credit: WTTC ECONOMIC IMPACT 2015 CAPE VERDE

 

Looking at both the direct and indirect influences that travel and tourism have on Cape Verde, the report has identified the ways in which these sectors will benefit the country up until at least 2025. For example, the direct contribution of travel and tourism to the Gross Domestic Product was CVE25.8bn (15.2% of total GDP) in 2014, and is predicted to rise by 5.9% pa to CVE48.9bn (18.6% of total GDP) in 2025. Furthermore, the total contribution of travel and tourism to the GDP, including indirect and induced factors such as investment and government spending, is forecast to rise by 6.1% pa to CVE130.2bn by 2025 (49.4% of GDP).

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Credit: WTTC ECONOMIC IMPACT 2015 CAPE VERDE

Levels of leisure travel spending are expected to rise by 5.8% pa to CVE76.6bn in 2025 – a substantial help to business owners in the country. It was also revealed that business travel spending will rise by 7.0% pa to CVE7.9bn in 2025. Perhaps supported by the new Hilton Praia being built in partnership with The Resort Group PLC in the nation’s capital. The 15-floor luxury business hotel will cater for all visitor types, but will be particularly convenient for its location near the city’s diplomatic quarters, governmental institutions, commercial, finance and residential areas.

Cape Verde tourism is also set to rise after a recent deal with a top travel company agreed to guarantee one million guests to The Resort Group resorts over the next three years. The deal will no doubt contribute to the encouraging rise in tourism seen in this recent report.

If you’re interested in investing in Cape Verde with The Resort Group, contact us today.

Cape Verde