Cape Verde
Cape Verde is an archipelago of ten volcanic islands located off the west coast of Africa in the Atlantic Ocean. Situated approximately 570 kilometers west of Senegal, the nation is known for its strategic maritime position and unique geographical ch...
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With a safety index of 50/100, Cape Verde offers moderate safety conditions for expats and their families.
Cape Verde offers visa-free entry for citizens of numerous countries including the United States, United Kingdom, Canada, Australia, and most EU member states, allowing stays of up to 30 days for tourism purposes. All visitors must complete mandatory EASE pre-registration online up to 5 days before arrival via www.ease.gov.cv, providing passport details, travel dates, flight information, and first accommodation, along with payment of the TSA (Airport Security Fee) of 3,400 CVE (approximately €31) per person over age 2. Failure to...
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Near EU average
24% below EU avg
30% below EU avg
72% below EU avg
Baselines based on EU averages. Source: Numbeo indices.
Capital
Praia
Timezone
UTC-01:00
Area
4,033 km²
Population
555,988
Cape Verde shows a purchasing power index of 20/100, indicating below average economic conditions for expats.
GDP
$2.31B
HDI
0.7
Quality of Life
47/100
+4 vs NYC
Purchasing Power
8/100
-34 vs NYC
Understanding the economic landscape is essential for evaluating living costs and opportunities in Cape Verde. This comprehensive overview covers key financial indicators including cost of living, housing markets, income levels, and fiscal policies that shape daily life and long-term financial planning.
Cost of Living Index
Very affordable with CPI of 46.1. Groceries index at 57.0 and restaurant prices at 35.3 are significantly lower than major developed nations, making daily expenses manageable.
Housing Market
Property prices average 13.8 years of household income, indicating expensive housing relative to local earnings. Rent index of 8.6 is affordable, but property ownership remains challenging for most residents.
Average Income Levels
Purchasing power index of 21.7 is very low, reflecting limited local earning capacity. GDP per capita of approximately $4,850-$5,329 indicates below-average income levels compared to global standards.
Tax System
Progressive income tax system with rates up to 47%. VAT applied on goods and services. Tax base broadening efforts underway including increased tourism taxes and reduced exemptions to improve fiscal consolidation.
Business Environment
Growing economy with 7.3% GDP growth in 2024 and projected 5.2% growth in 2026. Tourism-driven investment and improving infrastructure support business development, though structural vulnerabilities and SOE reform challenges persist.
Social Security
Social safety net includes redistributive policies targeting poverty reduction and diaspora remittance support. Healthcare and pension systems exist but face resource constraints typical of lower-income island nations with limited fiscal capacity.
Cape Verde, a small volcanic archipelago off West Africa, features a predominantly arid tropical climate ideal for sun-seekers and expats preferring mild, stable weather. Dominated by hot desert (BWh) and hot semi-arid (BSh) Köppen classifications, it offers year-round warmth with average temperatures around 23-24°C.
3 distinct climate regions — see full guide for details
Read full guideLife Expectancy
72.8
Population
555,988
Religions
Ethnic Composition
Currently under research
Research in Progress
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Cape Verde maintains a stable semi-presidential democracy with competitive elections and power alternation between the center-right MpD and center-left PAICV. The MpD holds a parliamentary majority under Prime Minister Ulisses Correia e Silva since 2016, while President José Maria Neves of PAICV was elected in 2021. Recent reforms emphasize judicial improvements, open government, and administrative transparency.
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Data Source: Safety, crime, and quality metrics are sourced from Numbeo, a crowd-sourced global database of reported data.
All scores are relative comparisons on a 0-100 scale, where 50 = global average. Higher scores mean better than average, lower scores mean worse than average.