Why Portugal became Europe's tourism leader
World Travel Awards is a prestigious annual award in tourism and travel. Winners are determined by open voting on the official website.
In 2020, Portugal was voted Europe’s best tourism destination. At the same time, 8 out of 26 awards went to regions, resorts, attractions and beaches of the country. This indicates a high level of comfort, developed infrastructure and quality of life in the tourist regions of Portugal.
The Southern Algarve region, Lisbon and Porto, Madeira and the Azores are among the winners of the World Travel Awards 2020. Passadiços do Paiva Geopark, a UNESCO World Heritage site, has been named the best place for active recreation and extreme tourism in Europe.
The full list of winners can be found on the award’s official website.
The Algarve’s sandy beaches are the best in Europe at the World Travel Awards 2020.
Porto – the best city in Europe for weekend tours
Passadiços do Paiva Geopark – the best place for active recreation and extreme tourism
Experts forecast economic growth in Portugal in 2021
In 2020, Deloitte conducted research into the Portuguese economy against the backdrop of the crisis and pandemic. Deloitte 一 is one of the 4 largest consulting companies in the world. Its research serves as a guide for investors in decision making.
The survey of managers and top managers of large companies in Portugal conducted by Deloitte showed the sustainability of the Portuguese economy. 55.9% of those surveyed believe that the country’s economy will grow in 2021 despite the crisis. At the same time, 35.3% believe that growth will exceed 3%.
By comparison, in April 2020 the European Central Bank predicted that the GDP of the eurozone countries would decrease by 5-12% on average over the year. Central Bank experts believed that the economy would only recover from the effects of the crisis by 2022.
Entrepreneurs are also confident that the Portuguese government will support a business with tax and administrative benefits.
In addition, Deloitte specialists have identified 6 main trends that will have the greatest impact on the Portuguese economy in the next 2 years. These include the transition of a business to online, the increase in local products on the market and the transition to clean energy sources.
The full text of the research with conclusions and recommendations is available on the official website of the company.
2 factors of high demand for Portuguese residence permit for investment
Portugal is justifiably attracting more and more investors with a stable economy and a high standard of living. The results of the country’s residence permit programme for investment confirm this conclusion.
Between January and July 2020, Portugal issued 2,232 residence permit cards for investment. The programme brought the country 439 million euros, only 6.7% less than for the same period in 2019. The crisis and the pandemic have had little or no impact on demand among foreign investors.
44 out of 808 programme participants in the 7 months of 2020 are Russian investors. This represents a 69% increase compared to 2019 when 26 Russians received a residence permit for investment.
We talked about the results of the programme in the material “Residence permit for Portugal: statistics for the first 7 months of 2020”.
Today, you can receive a residence permit for Portugal for your investment using one of the 8 programme options. Minimum investment amount – 250 000 €, processing period – from 2 to 6 months.
The residence permit status allows the investor to move to Portugal, work and do business in the country without restrictions. With a residence permit card, you can travel within the Schengen countries without visas, and you can stay in their territory for up to 90 consecutive days.
In our experience, the Algarve, Lisbon and Porto are the most popular destinations for participants in the Portuguese residence permit investment programme. Investors choose them to buy real estate, move and relax.
Two-storey villa with sea and mountain views in Orta, Portugal. Price – 530 000 €
Apartments with private garden in the centre of Porto, Portugal. Price – from 328 000 €
Apartments in a historic building in Lisbon, Portugal. Price – 360 000 €