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  Cape Verde
HOME >> COUNTRY REPORTS >> Cape Verde
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Official name Republic of Cape Verde
Capital  Praia
Population  423,613
Currency  Cape Verdean escudo(CVE)
Official language   Portuguese
GDP  $6,000
cape-verde lines

  STRENGTHS
  WEAKNESSES

Year-round warm, sunny weather.

Closest Tropical islands to Europe.

Beautiful beaches, exotic Tropical plantations and breathtaking mountains.

Low cost of living and affordable holidays.

Flight times of only 5.5 hrs from UK with little jet-ag due to similar longitude.

Early stages of development in Cape Verde make it an
ideal time to invest.

Huge growth potential in tourist industry.

New International Airport. Cape Verde airlines to start
direct flights from UK in 2006.

Very strong public and private investment.

Currently being re-classified as a "middle-income" country due to foreign investment in infrastructure and tourism.

Strong possibility of inclusion in the European Union.

Excellent property prices, Cape Verde beach apartments from €47,000.

Exchange rate value of local currency is fixed to the
Euro.

A multi-party, stable democracy, supportive of foreign
direct investment.

Over 70% increase in property value over the next 24
months expected.

Guaranteed rental schemes in place for up to 3 years.

It has relatively high gross external and public debt

The country suffers from a large structural current account deficit, which, in the absence of stronger foreign direct inflows, will continue to be financed via external borrowing, contributing to a rise in external debt

The country is characterized by lack of natural resources

As the country does not have a basis of natural and primary resources in which to base its development, it presents strong environmental fragility

Cabo Verde’s main development problem in the social sphere is the persistence of poverty, namely among women, in a context of imbalanced space distribution, tending to aggravation in the urban centers, resulting from the strong demographic pressure on available resources.

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