Portugal continues to give positive signs of economic growth and increases its attractiveness for foreign investment. Tourism remains a boost to the economy.
A welcoming country for tourists
Portugal came 4th worldwide in for most tourist-friendly destinations in the latest ranking from the World Economic Forum, providing quality touristic infrastructure and services to visitors and internal and international security.
This country is recognized as one of the safest in nations in the world. According to the latest quaterly report from the European Travel Commission, safety is one of the main concerns of tourists when choosing where to go, and Portugal is among the fastest growing destinations in Europe.
Therefore, tourism remains one of the main highlights. The country as a whole as well as different cities and regions have been receiving multiple awards. Read more: Portugal is the country to go in 2017
Impressive economic recovery and foreign investment
During a recent visit to Portugal, Pierre Moscovici, the European commissioner for Economic and Financial Affairs, Taxation and Customs, congratulated Portugal on the impressive economic progress that the country achieved after the crisis, emphasising the growth of foreign investment and the role of tourism.
Indeed, Portugal’s attractiveness is increasing among investors. The report from the consultancy firm EY (part of Ernst&Young) reveals that Portugal is one of the European countries attracting higher investment intentions. The social stability, workers’ qualifications and labour costs are the three most attractive aspects for investors.
The report defends that Tourism and the Information Technology field will be key sectors for the development of the Portuguese economy. It also emphasizes the startup environment, which is considered as good as in other developed European countries, while having room for improvement. Read more: Brand Portugal on the rise
Lisbon has become very attractive for foreigners looking to run their businesses or just resettle. The Guardian explores examples of the city’s recovery after the economic crisis.
According to this article by the Guardian, Lisbon is a city “of old-fashioned dignity, of arcades and ocean breezes, of the yellow, timber-lined streetcars that get into the tourist pictures, of classical facades maintaining their equilibrium over steep slopes, of delectable cake shops and family-owned seafood restaurants.”
It is described as cosmopolitan city that brings details from other cities together. Trendy co-working spaces set up in repurposed shipping containers and buses, like Village Underground, with cultural events at the workspace, is one of the examples given that resembles the reality of London. Then, there is the bridge that looks like the Golden Gate one in San Francisco and the city’s own Christ statue that recalls Rio de Janeiro in Brazil.
Lisbon’s safety is also mentioned in the article, along with being a liberal, open minded and “pro-enterprise” city. Those aspects and the fact that it is much cheaper when compared to London makes it an attractive place for “young creative exiles from the British capital” at a time when the Brexit is still characterized by uncertainty. Additionally, since last year and, at least, until 2018, Lisbon is the host city of the Web Summit, “the largest tech conference in the world”, which emphasizes the city’s innovative side.
Portugal as a whole is more and more attractive to tourists, foreign professionals looking to move and individuals looking to retire abroad. Even during the so-called “low season” of tourism, the numbers of visitors have been continuously increasing, not only in Lisbon but also in other regions like the North region and the Azores islands.
Touristic attractions: as one of the oldest cities in Western Europe, this city offers multiple outstanding places to visit, such as Jerónimos Monastery, Tower of Belém and Praça do Comércio.
A charming city: as US News puts it, “Lisbon offers the same Old World cosmopolitan flavor” as other better known European capitals, but with good weather, and pleasant, clean beaches.
Affordability: Lisbon is one of the most affordable capital cities in Western Europe. The quality of life you get compared to the cost of living is unmatchable.
Healthcare: Lisbon ranks high also when it comes to healthcare quality, and counts with some of the best health specialists in Europe. Plus, medical care is considerably more affordable in Lisbon than in the USA. Language is not a barrier: most doctors and medical staff speak English. If you are considering visiting or moving to Portugal and want to better understand how to access healthcare services, we can help.
Language: There is an established English speaking community in Lisbon, and English is the second most spoken language throughout Portugal.
Cultural and recreational activities are also mentioned by US News, and moving to Portugal is now easier thanks to the Non Habitual Regime and Golden Visa status. You can read the full article – that concludes by describing Portugal as a “welcoming haven”.
There are many other unique characteristics that render Lisbon a great choice for foreign retirees. Keep visiting our blog to learn more.