According to a World Investment Report from the United Nations Conference on Trade and Development, Cape Verde received around $111 million in foreign direct investment during 2010, and although this is $8 million less than the previous year it is extremely respectable considering the world financial crisis. The African Development Bank has issued a report called "Economic Outlooks in Africa," and this noted that Cape Verde's focus on public investments had enabled it to buck the trend which has seen foreign direct investment fall in many countries over the last year or so.
According to the report the economy in Cape Verde cannot generate sufficient funds to enable its continuing development, as the Archipelago has a lack of natural resources and a balance of trade deficit. The report goes on to say that foreign direct investment is key for the development of Cape Verde, and helps to compensate for some of the deficiencies within the economy.
Although tourism remains the sector which generates the most investment, there are clear signs that this investment is diversifying, and there are now far more investors from northern Europe in comparison to southern Europe. Prior to 2006 the majority of investment came from Portugal, Italy and Spain, but during the last few years investments from the United Kingdom, Sweden, Belgium and Ireland have become far more important.
A recent report from Rightmove Overseas sound that searches for property in Cape Verde have increased by a massive 46% over the last month or so, which may be partially due to the availability of low-cost direct flights.
No comments:
Post a Comment