In 2010, STP was the second poorest country in Africa, with GDP per capita of US$1,190. Its narrow export base is composed of solely two sectors: cocoa and tourism. We developed an economic development strategy based on leveraging untapped natural and cultural endowments of the island state using an integrated set of interventions, including private sector linkages and community involvement, improved tourism sector policies, rehabilitation and promotion of cultural landscapes, tourism product and market development, as well as capacity building and skills development of the local community. Our research showed that in 2011, 11,000 international tourists visited STP, resulting in creation of total 8,500 jobs (direct and indirect), which accounted for 10.7 percent of total employment. Travel and tourism industry contributed 50 percent of country’s total exports. The tourism industry can use the islands’ untapped cultural and natural assets to escalate its exports by increasing the average expenditure per tourist and their length of stay. To this end, we recommended that the country must develop an integrated strategy to conserve and promote its cultural and natural heritage. The plan we developed had six pillars: 1) raising communities’ awareness of their history and heritage, 2) changes in policy environment to facilitate private sector participation, 3) rehabilitation of Roças and the historic railroad system, 4) rehabilitation of the coffee and cocoa production process, 5) moving towards a World Heritage nomination, and 6) destination and market development.