Cape Verde: An exotic pearl of the Atlantic with investment potential

Cape Verde, an archipelago of ten islands off the west coast of Africa, is among the fastest-growing economies in the region. Thanks to a stable climate, growing tourism and improving infrastructure, Cape Verde is becoming not only an attractive destination for travellers, but also for investors. In 2023, the archipelago was visited by more than 1.2 million tourists, with annual economic growth of 6 % expected by 2029.

A stable economy with growth potential

The Cape Verdean economy is heavily dependent on tourism, which makes up approximately 24 % of the country's GDP. Thanks to growing demand for accommodation capacity and services, investments in hotel resorts and infrastructure are developing here. In 2024, the government announced the expansion of the Aristides Pereira International Airport on Boa Vista, which will significantly increase air transport capacity and make access easier for tourists and investors alike.

In December 2024, Cape Verde ranked among the 20 most popular destinations for French tourists and recorded year-on-year growth in transaction volume of 44.6 %. This positive trend confirms the growing interest in the destination not only among tourists, but also investors.

The island of Boa Vista – the epicentre of growth

Boa Vista, which translated means "Beautiful View", is one of the fastest-growing islands of Cape Verde. This island is known for its 55-kilometre-long coastline with white sand and a turquoise sea, but also for strategic investments in the tourism sector. Among the most significant investments of recent years is the construction of new resorts and the modernisation of transport infrastructure.

Facts about Boa Vista:

• Tourism and visitor numbers: Between 2019 and 2023, the number of tourists on the island increased by 18 %. In 2023, Boa Vista and Sal welcomed more than 80 % of Cape Verde's visitors. Most tourists on Boa Vista come from the United Kingdom (46 %), Germany (16 %) and Belgium/Netherlands (16 %), with interest also growing in Central Europe. The average length of stay on the island exceeds 7 days, with the main season running from November to March.
• Transport infrastructure and airport capacity: More than EUR 100 million has been invested in roads and access routes. The new motorway from 2021 connects the Aristides Pereira International Airport with the rest of the island and allows easier access to tourist locations. In 2023, Cape Verde's airports handled over 2.5 million passengers, with Sal and Boa Vista accounting for approximately 70 % of these arrivals. After the completion of the airport expansion on Boa Vista, the annual capacity will increase to 2 million passengers.
• Natural wealth: Approximately 37 % of the island of Boa Vista is protected as a nature reserve, comprising 14 protected areas.
• Main attractions: The Deserto de Viana desert, the wreck of the Cabo Santa Maria ship, the town of Sal Rei with traditional Cape Verdean culture and markets.

What attracts investors to Cape Verde?

Cape Verde is not only a tourist destination, but also a growing market with broad opportunities for investors. Among the key factors that attract investors are:

• Growing GDP: Expected economic growth of 6 % per year by 2029.
• Dynamic tourism: In 2023, tourism made up 24 % of GDP, and an increase to 30 % is expected by 2030.
• Strategic location: Just 5–6 hours' flight from Europe, which makes travel and business activities easier.
• A stable business environment: Political stability, investment incentives and infrastructure development support long-term growth.
• Environmental aspects: A focus on sustainable development and nature conservation contributes to Cape Verde's appeal for environmentally minded investors.

Cape Verde represents an interesting opportunity for investors looking for a stable and sustainable market over the long term. Economic growth, infrastructure development and growing interest from tourists create a favourable environment for both business and investment.