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Huge growth tourist industry:
The National Statistics Institute (INE) says that around 250,000
tourists arrived in 2006 – a 25% increase over 2005. Seventy
percent of tourists visited Sal and 15% Santiago. INE estimates that
tourist arrivals will increase by 22% during 2007 and forecasts around
1m tourists annually by 2015. It also predicts that the number of
cruise ships visiting the islands will increase from 30 in 2006 to as
many as 70 this year, further putting the destination on the tourist
trail.
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Huge government investment: The Cape Verde government identified the growth tourism as a strategy for sustainable economic growth.
The Government implementing a number of programmes through The NDP
(National Development Plan 2001 – 2005) to develop and improve
the infrastructure of the Islands.
The NDP covers areas such as transportation (air, maritime,
inter-island and road transportation), communications, banking, and
health provisions. A major new airport, new roads, water desalination
plants, and improved electricity have already been implemented.
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Tourism development:
The infrastructure development and increased awareness mean that the
islands are becoming increasing popular with holiday makers looking for
a tropical holiday destination with our the very long flight times to
say the Carribean and Thailand.
As soon as Cape Verde
becomes a mainstream holiday destination the price of property here
will almost certainly increase drastically. Source: Property Investor News.
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Low property prices:
Cape Verde remains much cheaper than many Mediterranean places, and
offers the opportunity to get in ‘on the ground’ of a soon
to be booming tourist destination.
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High Capital Growth: 30% increase per year in property values predicted.
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High Rental Value:
Fantastic climate and sunshine for most of the 365 days of the year as
well as booming tourism industry equals a strong possibility of year
round rental income.
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Nearest Tropical Islands to Europe: Around 4 hours closer than the Caribbean islands with direct flights of only 5.5 hrs from the UK with no Jet-lag.
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Low cost of living and affordable holidays:
Low cost Airlines’ offer affordable regular flights from the UK
and other European countries. The prices of everyday consumer goods are
a fraction of the price in the UK.
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Early Stages of Development:
The property investment market is still relatively young, the predicted
tourism and demand of quality accommodation mean that now is an ideal
time to invest in Cape Verde.
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Currency: Exchange rate value of local currency is fixed to the Euro
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Strong possibility of inclusion in the European Union: Cape Verde is looking for a closer partnership with the EU and a public debate on this issue is currently underway.
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Political Stability:
Politics of Cape Verde takes place in a framework of a parliamentary
representative democratic republic, whereby the Prime Minister of Cape
Verde is the head of government, and of a pluriform multi-party system.
Supportive of foreign direct investment and absence of any ethnic or
religious conflict; absence of any political violence.
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