Expanding economy
The Portuguese economy has been experiencing a strong recovery in the last five years. A kind of “Portuguese Economic Miracle”. It is true that this is not a miracle, but the result of an austerity policy, with the advance payment of a large part of the debt with the Troika ¹, a drop in unemployment rates and a budget deficit below the limit, which led to the resumption of debt. civil construction and the (sustainable) explosion of tourism in the country, generating a virtuous circle of economic and social gains.
Investing in a solid economy with a strong currency, from a country that is part of the main global economic bloc is, and always will be, a good option to be considered when diversifying the investment portfolio.
Portugal has been in a strong economic recovery since 2015, the latter that led this period to be called by many the “Portuguese Economic Miracle”. However, this is not a miracle, it is just the result of a very intelligent and solid political and economic management.
Its guidelines are transparent and efficient, driven by tax benefits and residence permits in exchange for investments - a strategy applied by the right and deepened by the socialists - which has led to the growth of foreign presence in the country, especially in the real estate sector, where prices have skyrocketed and have continued to increase so far.
International tourism was another big bet for success, placing the country in the highest rankings of destinations in the world and now represents 15% of GDP and is responsible for the creation of thousands of jobs.
Last but not least, the investment in the technological sector that resulted in the installation of a Google operations center in Lisbon, among other companies in the segment, leading the capital to be called one of the “Silicon Valley of Europe”. From 2014 to 2016, 700 high-tech companies were created in Lisbon, which led the city to host one of the world's leading technology conferences, WebSummit.