The Portuguese economy is one that is on the path to recovery after the global pandemic descended. Prior to the impact of COVID-19, Portugal was actually one of the better performing members of the EU in terms of economic growth. Yet now the country is looking to spark a revival. Nevertheless, this does not mean that there aren’t a lot of opportunities in Portugal. There are many industries that continue to flourish and so it is worth exploring these sectors a bit further.
Agriculture makes up a massive part of business in the country. However, a lot of people are shocked to learn that it no longer makes up the majority of the economy as it used to. This is not because of a decline, rather it is because more industries are coming to the fore. This includes the following; leather, tourism, oil refineries, plastic products, steel, construction, textiles, footwear and cement production.
Nevertheless, when you think about the oranges (especially from the Algarve), the exquisite wines and the quality olive oil you see that there will also be a big space for agricultural businesses in the country. These will always be exports that are high in demand.
Whilst there is no denying the fact that Portugal has gone through a rough patch, there is optimism that the country will be on the road to recovery through 2021. A lot of investors are choosing now as the time to set up stall in the country so that they can capitalise on low costs and set themselves up for the future.
And the country has always been credited (and continues to do so) with a highly educated population and high-quality infrastructure. In fact, Portugal’s infrastructure is ranked 11th globally and the population as 29th globally.
Furthermore, most recent news released by the National Statistics Institute in Lisbon states that Gross Domestic Product (GDP) has risen 1.1 per cent. This is definitely a positive sign for the future.
We are definitely witnessing a period of transition in Portugal. There is no denying the fact that the economy has been somewhat dismal over the past few years. Yet with the recent reports, we can definitely see light at the end of the tunnel. And let’s not ignore the markets that are always going to flourish in this country, such as agriculture. Thus, there are plenty of opportunities to capitalise on and companies can help investors and opportunists to take advantage of this market.
Want to set up in Portugal? Where is best for your business?
More and more people are choosing to set up their business in Portugal. The country may have suffered at the hands of the recession yet there is no denying the fact that it is one of the more attractive locations to set up a company in 2021 and the years that proceed it. After all, the operational costs of setting up in Portugal are low. You also have to consider the fact that the country is one that has always been associated with having a highly skilled pool of workers. And if that wasn’t enough, you are in the prime location to access the rest of the world. Nevertheless, whereabouts in Portugal is going to be the best place for you to set up shop?
Lisbon is undoubtedly one of the first places you should consider. After all, it is the capital and the largest city in Portugal. It boasts five-star transport and infrastructure as well. It is the wealthiest region in the country and is ideal for those who wish to set up a business in the tertiary sector. It is also the city for the biggest and most developed forms of mass media. One of the most important things to bear in mind is the fact that Gross Domestic Product (GDP) grows year by year in Lisbon too. When starting off in a place like this, make sure you get people in the door with local SEO services. Your online marketing strategy needs to be refined for your new audience.
In addition to this, it is also worth considering Amadora. In fact, this city actually forms a conurbation with Lisbon. Whilst Amadora is considered to be a residential area, there are actually a wealth of possibilities in terms of business. There are commercial zones boasting key industries as well as the headquarters of large international businesses. Everything from IKEA to Siemens to Roche can be found here.
Or why not consider Braga? Braga is a city that is flourishing for several sectors of the economy. This incorporates the following major industries; software development and web design, construction and metallurgy and mechanics. In fact, the computer industry is one that is really flourishing out there at the moment. This is definitely something worth capitalizing on if you are involved in this field.
It is also worth considering Porto too. This is largely regarded as the second city of Portugal, falling behind only Lisbon. Nonetheless, it definitely rivals Lisbon in terms of economy. There are lots of big and diverse economic corporations in the area. This encompasses everything from Millennium BCP to EFACEC to Lactogal. This is definitely a place you should take a look at before you make your decision.
And finally, if you are looking to get involved in the business of winemaking then Viseu is undoubtedly the location to consider. In fact, the region has become famous for its wine. Not only this, but here is an agricultural fair annually and thus this is an area of interest in the region. And that is without even mentioning the emergence of the likes of construction and telecommunications industries.
So there you have it; you now have further information on the key places in Portugal to consider when setting up your business. It is now important to find a quality company who can help you find an office space to rent. Luckily all you need to do is look in the direction of regional experts and you will definitely find the ideal office space in your preferred location.