Cape Verde's "Blue Economy" Contributed 20.1% to National GDP in 2023

The "Blue Economy" in Cape Verde accounted for 20.3% of the national Gross Value Added (GVA) in 2023, an increase of 1.8 percentage points from 2022. This sector's contribution to the national GDP was 20.1% for the year. Net taxes on Blue Economy products also saw a significant rise, increasing by 3.5 percentage points nationally. Remuneration within maritime activities grew to 16.1% of the national total in 2023, up from 14.8% in 2022, while employment in the sector represented 19.5% of the national workforce, a 2.3 percentage point increase. Overall production from the Blue Economy rose by 1.6 percentage points to 22.2% of the national total in 2023, with the top three sub-sectors comprising 89.8% of this production. Employment in the Blue Economy increased by 2.3 percentage points to 17.2% of the national total in 2023, with Recreation, Sports, Culture, and Tourism being the largest employer, followed by fishing and port activities. The tourism sub-sector, particularly coastal accommodation, contributed 32.7% to the Blue Economy's GVA, with hotels experiencing a 20.9% rise in guests and a 12.2% increase in establishments. Cruise ship calls and passenger numbers also saw substantial growth of 32.6% and 40.3%, respectively. The fishing sector, though central, saw a slight decrease in its share of production within its sub-sector. Non-living marine resources, primarily desalination, led that segment, while naval construction and repair, maritime infrastructure, and maritime services also showed positive contributions. The report also notes 46 protected areas, covering 5.66% of territorial waters.