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Tourism boom fuels Cape Verde economy

During the past two years Cape Verde has continued its strong economic growth, which is currently set at around 7 per cent annually, with a booming tourism industry providing for most of the growth.

The archipelago's economic growth has mainly been attributed to the strong public and private investment, together with a sharp pickup in tourist arrivals. The number of tourist arrivals in 2006 is predicted to increase at an annual rate of 22 per cent, with the target of attracting approximately one million tourists by 2015.

The tourism sector could start contributing up to 30 per cent of the Gross Domestic Product (GDP) in contrast to the current 10 per cent and people working in the industry could increase to as many as 53,000 in the next few years.

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