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The sky's the limit

21st July 2008 | back to article listings BACK    print this article PRINT

Much has been said about the boost in investment Cape Verde will see following its impending World Trade Organisation (WTO) membership. On the verge of becoming the WTO's 153rd member, property commentators have posted positive predictions aplenty. But there are other factors that may impact even more on the success of the archipelago and should certainly not be overshadowed, with infrastructure changes and transport links also key to the development of the country.

Increased direct links to Cape Verde have played a big role in the growth of the country, not least the connections between Stansted and the island, with news today that another airline has come a step closer to servicing trade, investment and tourists to this burgeoning island from all over the world. Halcyonair-Cabo Verde Airways has been awarded its Air Operator Certification from the Aviation Agency, Macauhub notes Panapress as reporting. The approval means that the airline can now begin operating and is likely to meet the increased demand for flights to Cape Verde, with ten more international flights required, as well as more than 30 inter-island connections, and follows in the flight path of the countries two other airlines, TACV and Cabo Verde Expresso.

This is good news for investors as promoter Halcyonair is keen to increase the number of regional flights to Cape Verde as well as improve connections with mainland Africa. Surely this a strong indicator that the growth of the country is only set to continue, with more people - and more money - accessing the island. And the news that Halcyonair-Cabo Verde Airways may soon be up and running follows reports last week from Macauhub that the government is to invest in its sea port facilities - another positive sign for property developers.

Of course the impact of Cape Verde's WTO status cannot be overlooked, with Robert Medd, co-owner and sales director of Emerging Real Estate, remarking that "massive stability" will result from the WTO membership that will in turn by "very, very positive for anybody looking to buy over there". He added: "Having this sort of accreditation will give greater credibility and create more opportunities for the whole Cape Verdean economy." Mr Medd noted that in the past when some countries have become part of Nato it has been a precursor to them joining the EU. "It's all about credibility, stability and a good chance of a possible increase in investment and trade from the international community because of it, which again people should feel a bit more reassurance from," he concluded.

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