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Why Portugal?
Introduction
The country of Portugal, officially known as the Portuguese Republic, is made up of
18 districts and 2 autonomous regions (the Azores and Madeira Islands/archipelagos). 1
Portugal is located in the south-west of Europe and borders Spain on its eastern and
northern sides. The Atlantic Ocean borders Portugal on its western and southern sides.
Portugal has a rich cultural heritage, and a landscape that includes lush mountains, sun-kissed plains and mile after mile of stunning beaches.2
- Official languages: Portuguese and Mirandese (locally used)
- Population: 10.3 million
- Capital: Lisbon
- Unemployment: 10.8% (2016)2
Business and Economy 3
Portugal’s GDP country rank is 52 out of 194 as of 2016. The GDP Per Capita is higher than 79.17% of all other countries. Top industries in Portugal include: Textiles; Clothing; Footwear; Wood and Cork. Additionally, Portugal is the world’s leading cork producer.
- Income Level: High
- Level of Development: Developed
- Top 3 Trade Partners (2015): Spain, Germany, and France
- Top 3 Exported Goods (2015): Motor Vehicles & Parts, Electrical Machinery, and Oil & Mineral Fuels
Strengths
The ease of doing business rank for the country of Portugal is 25 out of 190.4 This puts Portugal in the top 13% of countries for this rating category. Although business growth can be slow in Portugal the country has many strengths and is known for its resilience.
- Quality infrastructure 5
- Tourist attractiveness 5
- Declining labor unit costs and reforms 5
- Government alliance amongst all political groups in country 5
Business Market and Job Opportunities
The business climate rating for Portugal is A2. 5 An A2 rating places the business environment in the good category and it is a relatively stable business environment. When available, corporate financial information is reliable, debt collection is reasonably efficient and institutions generally perform efficiently.
There is a shortage of skilled workers in: 6 Communications; IT; Healthcare; Hospitality; Tourism.
The capital city of Lisbon is also home to a number of multinational companies including:6 Energias de Portugal; Nestlé; Nokia; Portugal Telecom; Samsung.
The Portuguese government is keen to encourage entrepreneurs to start-up businesses in the country and has put large amounts of money into the investment body, Portugal Ventures. 6
Culture
The Portuguese are typically gentle, friendly and modest. Family relationships take precedence over all other relationships, including in business.2 The family is very important and central to the Portuguese way of life. Many businesses in Portugal employ family members.2 This practice is seen as normal and is commonly accepted.
If you are interested in literature, Portugal has an 800-year old valued literary tradition.7 Brazilian writers are amongst the most renowned in world literature, and African Lusophone countries have their own exciting literary traditions.
Whether celebrating Pagan rites, Holy Week, food fests, or rock concerts there is a party for everyone in Portugal! Festivals in Portugal range from large scale, multi-day and night parties in large cities to small scale, single day events in towns and neighborhoods. Some of the most well-known events include: 8
- Carnaval- February or March (47 days before Easter)
- Obidos International Chocolate Festival- March or April
- Lisbon Fish and Flavors- April
- Festival de Sintra- May or June (celebrating music and dance)
- Noite Branca (White Night)- End of August (saying goodbye to the end of summer with a one night party where everyone wears white)
The Advantage of Studying Portuguese 7
Portuguese is the fifth most spoken language in the world, the most widely spoken in the southern hemisphere, and the third most spoken in the Western world.
Learning Portuguese is a smart decision because Portugal can be a gateway to the European Union and the entire globe. Portuguese is spoken by about 260 million people (as a native and/or official language). It is the official language of Portugal, Brazil, Angola, Cape Verde, East Timor, Guinea Bissau, Equatorial Guinea, Mozambique, Macao (China), São Tomé e Príncipe, and other territories. Its presence in four continents makes Portuguese truly a global language.
1 “The World Factbook: Portugal,” cia.gov, last modified September 2017, https://www.cia.gov/library/publications/the-world-factbook/geos/po.html.
2 “Guide to Portugal- Etiquette, Customs, Culture, & Business,” Kwintessential.co.uk, accessed September, 2017, http://www.kwintessential.co.uk/resources/guides/guide-to-portugal-etiquette-customs-culture-business/
3 “Portugal: Economy,” globaledge.msu.edu, last modified 2017, https://globaledge.msu.edu/countries/portugal/economy
4 “Portugal: Indices,” globaledge.msu.edu, last modified 2017, https://globaledge.msu.edu/countries/portugal/indices.
5 “Portugal: Risk Assessment,” globaledge.msu.edu, last modified 2017, https://globaledge.msu.edu/countries/portugal/risk.
6 “Work in Portugal,” prospects.ac.uk, last modified October 2016, https://www.prospects.ac.uk/jobs-and-work-experience/working-abroad/work-in-portugal.
7 “Portuguese at SDSU- Grab this Opportunity,” spanish.sdsu.edu, accessed September 2017, http://spanish.sdsu.edu/docs/portuguese_brochure.pdf
8 “Festa, Festa, Festa,” Portugal.com, last modified February 2016, https://portugal.com/portugal-blogs/portugal-festivals.