Tourism supports Cape Verde's economy
The African Development Bank estimates that Cape Verde's growth rate was 5.2% in 2025, compared with 7.3% in 2024, primarily due to power disruptions.
The country’s power mix is made up of 70% fossil fuel and 30% renewable energy. The power disruptions were due to lack of regular generator maintenance.
Despite a slight decline, economic growth in 2025 was supported by the continued rise of tourist arrivals standing at 1,459,990 in Q3 2025 an increase from 1,357,168 in Q3 2024.
The country is expected to have moderate growth in 2026 and 2027, amounting to 4.7% and 5% of GDP, respectively. Growth in 2026 will be supported by continued demand for tourism services and investments in infrastructure.
AFRICAN DEVELOPMENT BANK
