Tourism accounted for 21 pct of Cabo Verde’s GDP in 2014

7 September 2015

The tourism sector in 2014 is expected to have contributed 32.6 billion escudos or 20.97 percent to the Gross Domestic Product (GDP) of Cabo Verde (Cape Verde), according to the results of the first Tourism Satellite Account in Cabo Verde from 2011 to 2014.

Presented by the National Statistics Institute (INE), the results of this study confirm a growing trend of tourism GDP as a percentage of total GDP from 2011 to 2014, with percentages of 18.71 percent, 21.19 percent and 21.91 percent, which, however, was interrupted in 2014, the year the percentage dropped to 20.97 percent.

INE also said that the tourism sector had been increasing its weight in the creation of jobs in Cabo Verde, whose weight in the total number of jobs rose from 19.2 percent in 2011 to 20.1 percent in 2013 with an average of 36,000 jobs.

At the presentation of the study, the Minister of Tourism, Leonesa Fortes, said “the Satellite Account and the Tourist Price Index guarantee reliable information for national tourism and this data is an instrument not only for policy makers but also to provide the whole society and agents involved in the sector with important information to guide their policies and forms of intervention.”

The Satellite Account of Cape Verde’s Tourism aims to show Cabo Verde’s tourism structure, its effects and the contribution that the sector has to the gross domestic product (GDP).

On the same occasion for the first time the Tourist Price Index was also presented, which is intended to provide information to industry statistics, provide national organisations (public and private) with the information they need for decision-making and to measure price changes in characteristic tourism products over time.

To draw up the Satellite Account of Cabo Verde Tourism, INE had the support of international technical partners including similar institutions from Sweden, Spain, namely the Statistical Institute of the Canary Islands. (macauhub/CV)