Investing in Cape Verde

“A captivating mix of mountains, beaches and peaceful villages by the sea”

“Wind-swept wavy dunes merge with indigo-blue seas on beaches preserved in white sands”

“Play in the constant beat of the music for which Cape Verde is famous and the renowned morabeza (Creole for the hospitality) of its people and you will see why many came – and never left “

Lonely Planet

Boa Vista and Maio islands are central parts of the tourism development policy and strategy in Cape Verde

Despite being one of the smallest countries in the world (166/195), Cape Verd is one of the most important countries for the economy. Since 2005, tourism has more than tripled in volume and revenue. The country’s growing popularity as a destination has stimulated a growing interest in investing and visiting it, as demonstrated by important published data on economics and tourism.

In a short time, since the opening of its international airport in 2007, Boa Vista has consolidated its position as the second largest destination in Cape Verde (behind the island of Sal, which had a 20-year lead) with 700,000 arrivals in 2017 and threatens to dethrone Sal as the country’s main destination in the not-too-distant future.

If you want to invest in the tourism sector and are looking for a good place to do it, Cape Verde and more concretely the islands of Boa Vista and Maio are an excellent option!
There are many reasons for this choice, including:

  • Strategic geographical location in the Atlantic Ocean
  • Democratic country, one of the most democratic in the world, and without corruption
  • Special partnership with the European Union
  • Excellent international relations
  • Christian, peaceful, multiracial and hospitable people
  • Respect for immigrants, their beliefs and cultures
  • Qualified and semi-skilled workforce
  • Tax incentives for private investments
  • Permanent Dialogue between the Public Sector and the Private Sector
  • Stable currency (fixed parity with EURO)
  • Nice weather, with temperature varying between 19º and 30º throughout the year
  • No record of occurrence of natural disasters
  • Excellent virgin beaches, warm water, clear and pliable throughout the year
  • Landscape and cultural diversity (musical and gastronomic singularity
  • Sun, beach and music festivals throughout the year

About Cape Verde

History

The islands of Cape Verde were discovered uninhabited by Portuguese navigators in May 1460. However, colonization only began in 1462. Given its strategic position on the routes linking Europe, Africa and Brazil, the islands served as a commercial warehouse. During the first two centuries of colonization, slaves represented the most important “commodity” of Cape Verdean exports. With the abolition of the slave trade, Cape Verde fell into decadence and began to live on the basis of a subsistence economy. Free Europeans and slaves from the African coast merged into a single people, giving rise to the Cape Verdean, with a way of being and living very own, and Creole emerged as the language of the community, mostly mestizo.
Cape Verde became an independent and sovereign country on July 5, 1975.

Demography

The population living in Cape Verde is estimated at 491,683 inhabitants (2010), according to data released by the National Institute of Statistics (INE). The age structure of the population is markedly young, with 54.5% of the population aged 0-24 and only 6.4% above the age of 65, with a mean age of 24 years. That is, the active population in the medium term will be very significant and could contribute to a progressive improvement in economic activity and an increase in the standard of living.
The degree of education has improved at an appreciable rate: In the 2011/2012 school year, 96% of the children, aged between 6 and 14 years old, attended basic education and 78%, aged between 12 and 17 years, attended secondary education. The literacy rate of the population aged over 15 years was about 82.8%.

Policy

Cape Verde is a democratic, parliamentarian republic, and its democracy has been considered exemplary by international bodies, not only at Africa but also on a world scale. The country enjoys peace, social and political stability, without any internal or external conflict, with good prospects of economic development. Presidential and legislative elections are held every five years, and municipal elections are held every four years. The President of the Party with a majority in the National Assembly (Parliament) is sworn in as Prime Minister.

Motto: Unity, Work, Progress

National anthem: Song of Freedom

Gentile: Cape Verdean

Capital: Praia 14° 55′ N 23° 31′ O
The most popular city: Praia
Language: Portuguese (official), Creole Cape Verdean (unofficial)
Government:Parliamentary unitary democratic republic
President: Jorge Carlos Fonseca
Prime Minister: Ulisses Correia e Silva (MPD)
Total area: 4.033 km²
Coin:Cape Verdean escudo (indexed to the euro) (CVE)
Timezone:Cape Verde timetable – CVT (UTC-1)
Climate: Arid
Cód. ISO: CPV
Cód. Internet: .cv
Cód. telef.: +238

Data of Cape Verde

Ranked in the 84th / 141st place in the World Economic Forum 2015 Travel and Tourism Competitiveness Index

More than 1,350 km of roads scattered among the 9 inhabited islands, of which 932 are paved

The air transport infrastructure was classified as 43/141 in the 2015 World Travel Forum's Travel and Tourism Competitiveness Index

Cape Verde occupies 122/188, which places the country in the category of average human development

The main port of cruises and yachts is Mindelo, on the island of São Vicente

4 international airports, domestic service airports on all islands except 2 (Santo Antão and Brava)

Any EU airline may operate flights between Cape Verde and a Member State which already has a bilateral agreement with Cape Verde, provided that traffic rights are available

Warm, semi-arid and dry climate, with average temperatures of 25 ° C from November to July. Rainy season from August to October.

Source: INE - National Institute of Statistics

Tourists - Arrivals

  • Chegadas

Accommodation

  • Capacidade de alojamento
  • Nr. de quartos

% hotel occupancy

  • Cabo Verde
  • Boa Vista
  • Maio

Hotel establishments

  • Cabo Verde
  • Boa Vista

OPERATORS IN CAPE VERDE

Cape Verde has four international airports: Praia International Airport (also known as Nelson Mandela International Airport) on Santiago Island, Amílcar Cabral International Airport on Sal Island, Aristides Pereira International Airport in Boa Vista and Cesária Évora International Airport on São Vicente.

Domestic service airports include Preguiça airport on the island of São Nicolau, Sao Felipe airport on Fogo Island and Vila do Maio airport on Maio Island. The company Binter Cape Verde connects international and domestic airports. Any EU airline may operate flights between Cape Verde and a Member State that already has a bilateral agreement with Cape Verde, provided traffic rights are available.

Consequently, as shown in the chart, several airlines have begun serving Cape Verde’s four international airports. Top international airlines, such as Turkish Airlines and Qatar Airways, are offering flights to Cape Verde based on shared code.

TACV Cape Verde and Sata airlines offer direct flights to the US (Providence Rhode Island).