Cape Verde Tourism Boom Article Published: 07:20 12/04/2007 Article Classification: Sal Beach Resort Cape Verde
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The numbers of tourists visiting Cape Verde continues to rise, as more and more Europeans are discovering this beautiful tropical island destination. The tourism sector, according to Cabo Verde Investimentos, has seen annual growth in the order of 11%-12%.

It “Has been the main locomotive for the country’s economic growth. The flow of tourists over the last five years has increased at an annual rate of 28%, with the number of visitors jumping from 67,000 in 2000 to 230,000 in 2005.”

It is estimated that some 280,000 tourists visited the country in 2006. The number of tourists to Cape Verde grew with the introduction of charter flights originating in Sweden, Denmark, Ireland and the United Kingdom.

Several countries in Southern and Eastern Europe have also demonstrated interest in Cape Verde as a tourist destination. The increase in property development and the introduction of brand named hotel groups and tourist resorts suggests that this trend is likely to continue for some time to come.

"As a holiday destination the island of Sal is still quite underdeveloped..." said Richard Brady of Olive Tree International. "However, that is precisely the reason that investors are moving in now. The continued growth of property prices is down to the fundamentals being right. A high demand, improving infrastructure, new flight and hotel operators, all year around holiday weather and realistic property costs".

The prices for holiday real estate seem to fluctuate quite considerably, not just across the various islands, but even on Sal (currently the most popular tourist region).

Brady says "A high demand can sometimes cause a rush on prices, particularly on popular new developments. We think that paying somewhere between 1,850 Euros and 2,250 Euros per square metre for a 4/5 star beach resort residence is about right."

"It is not out of the question to be paying up to 3,000 Euros per square metre for the better quality property on a top quality resort though. Holiday homes would need to be linked to a full resort in my opinion; as restaurants, bars, shops, tennis courts, gyms and the like, are few and far between at the moment." He went on to say. "The Silver Coast in Portugal has prices from 2,500 to 3,500 Euros pm2 and is better developed than Sal. However, in the Algarve prices are up around the 4,000 to 6,000 Euros pm2, so it's all about value ultimately."

The flight operator Astraeus www.flyastraeus.com has increased the number of flights to Cape Verde from Gatwick and Manchester to cope with the demand from English tourists and investors. Currently British tourists account for less than 20% of the total tourist population visiting the islands.