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Cape Verdes Economy Tipped To Keep Growing

News Posted On: 12 May 2009

The Cape Verde economy is performing relatively well and continuing to grow, despite the global financial crisis.

According to the African Development Bank (ADB), the country's economy is likely to expand by about 3.6 per cent this year.

Although this is down from 6.1 per cent in 2008, this is still evidence of an upwards trend in the face of a global recession.

The organisation believes this will continue into next year at least, with the economy continuing to expand.

Commenting on the figures, the ADB said: "The economic performance of Cape Verde is even more significant, considering the significant costs of its small size, insularity and geographic configuration."

This could prove influential to people who are looking to purchase a property abroad, as many overseas hotspots are experiencing negative growth as a result of the global financial crisis.

Cape Verde's economy is already benefiting from its expanding tourist sector, as visitor numbers in 2008 were six per cent up on the previous year.

Written by Matthew Bonner

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