When you think of Cape Verde tourism, you think of The Resort Group PLC. Founded in 2007 by Rob Jarrett, The Resort Group PLC has rapidly grown into one of the foremost luxury Resort and hospitality brands in Cape Verde, catering to nearly 60% of the country’s tourists. Their success has been the country’s success and is a great model for overseas property investment. Here is the story.
Growing from strength to strength
With clear understanding of what luxury means and the nature of Cape Verde, The Resort Group PLC design properties to offer the very best to guests. Open space, palm trees, luxury swimming pools and peaceful rooms are just some of the features of the opulent Resorts. The first Resort was opened in 2011 – the MELIÃ Tortuga Beach Resort – and was instantly recognised for its supreme quality. It dominated the World Travel Awards as Cape Verde’s Leading Hotel in 2012, 2013, 2014, 2015 and 2017, and won the TUI Family Champion Award.
We followed up this success with MELIÃ Dunas Beach Resort & Spa in 2014, further establishing our proven model for overseas property investment. MELIÃ Dunas Beach Resort & Spa was ranked seventh in the world in the list of Top 30 Resorts by Hotel of the Year Awards. And, since then, the projects have only grown stronger. In 2016, they launched two adult-only five-star luxury Resorts: TUI Sensimar Cabo Verde and MELIÃ Llana Beach Resort & Spa and were the first to open a premium beach club in all of Cape Verde, Bikini Beach – a must-visit destination for tourists on Sal Island.
A symbiotic system
As The Resort Group PLC has grown, so has Cape Verde. Travel and tourism are an integral part of the global economy, contributing to money flow, job creation and property investment. It is estimated that travel and tourism contributed 10.4% of the global GDP in 2017, and 9.9% of total employment in the world (creating 313 million jobs) in the same year.
In Cape Verde, these percentages are even higher. In 2017, the total contribution of the tourism industry to Cape Verde’s GDP was 44.9% and is expected to rise to 47.9% by 2028. The number of jobs created, including jobs supported by tourists and the industry, was 93,500 jobs in 2017, which is 39.3% of total employment in the country. That number is expected to keep rising, and we are looking at 129,000 jobs by 2028.
It is difficult to describe a sector that is more integral to Cape Verde’s economy than tourism. As the tourism sector booms, the government has invested more money in infrastructure to cope with demand, building more advanced airports and seaports and thus improving quality of life for its citizens. Overseas property investment in travel and tourism accounts for 26% of the total investment in Cape Verde in 2017 and will continue to rise in the future.
A proven model for overseas property investment
The Resort Group PLC chose Cape Verde as an investment location due to its booming tourism industry – the number of tourists has risen 115% from 2000 and is expected to double again by 2024. The plans for growth are as vast and ambitious: there are 10 developments currently in the pipeline, beginning with White Sands Hotel & Spa (Boa Vista), Hilton Praia (Santiago) and Hilton Boa Vista. The company’s success is due to their symbiotic system with the country’s economy, and the fact they invest just as much into Cape Verde.
If you are looking to invest in the award-winning legacy and a proven model for overseas property investment, please contact us today.