Cabo Verde is among the most attractive tourist markets in West Africa at a time when the continent is increasingly attracting tourism investment, according to an assessment released by Hospitality and Tourism International (HTI) Consulting.
The assessment, released during the African Property Investment (API) Summit, which took place on 2 and 3 October in Johannesburg, said that the main investment destinations in the hotel industry in West Africa are, besides Cabo Verde, Senegal, Benin and Ghana.
“Other markets offer opportunities, but the potential for security or political upheavals can hurt long-term performance and revenues,” Wayne Troughton told the conference. In the assessment other Portuguese-speaking countries such as Angola, Guinea Bissau or São Tomé and Príncipe were not even mentioned.
“We are following the investment of structured funds, predominantly from Europe and the Middle East, an increasing percentage of individuals with high liquidity from Europe, the Middle East and Africa itself, European, African and North American proprietary investors and family funds from the Middle East, the United Kingdom, Europe and South Africa,” said the head of HTI Consulting.
The most frequent investment opportunity, he said, are mid-range, 150-room city hotel located near business districts, conference centres and transportation platforms.