Embassy of Portugal in Saudi Arabia

Ministry of Foreign Affairs

Portugal, an Investment Destination

Portugal is more and more an investment destination for the big international companies, which are looking to take advantage of the excellent conditions to set up shop in our country. This phenomena can easily be witnessed by just reading the press as of recent.

Just last Wednesday it was announced at Davos that Google would open a new Support Center in Oeiras, just west of Lisbon, that would become an important hub in the Silicon Valley juggernaut’s corporate structure. The opening of these new offices would create about 500 new jobs, most of which qualified labor.

And it seems that Google is not alone in wanting to invest in Portugal. Paddy Cosgrave, Web Summit’s founder, tweeted that: “Rumours are Google are the first of a number of high profile tech companies opening major offices in Lisbon”

Also in the News, another Tech Giant, Amazon, is apparently searching in Porto for a location to open up new offices in Portugal.

The reasons for this long expected investment boom are well known. Writing for Forbes, Hugues Franc, summarized the reasons why so many companies are being attracted to Portugal. He highlights, the human capital, “a qualified young population”, a veritable “talent pool”. Affordable real estate prices when compared to other more traditional locations. The ease of mobility with a big presence of Low Cost companies at Portuguese airports, offering flights to many destinations. The benefits startups enjoy whether it be less bureaucracy or better access to funding. On a more different note, the author also pointed to the pleasant climate, beautiful landscapes and the Portuguese people’s at ease with multiculturalism. 

More Nights spent at Tourist Accommodation Establishments in 2017

Eurostat has just released the data pertaining to the number of Nights spent at Tourist Accommodation Establishments. This sector in Portugal stands now, in 2017, at 71.3 million. An 8% increase when compared to the previous year.

An increase far above the European Union average that stood at just 5.1%. With Portugal having the 4th largest annual increase among all EU Countries in comparative terms.

Of these 71.3 million nights spent, the vast majority, 68%, belong to non-residents, a nearly 10% increase when compared to 2016. Way above the Union’s total numbers, where residents still account for most of the nights spent. With non-residents being responsible for only 49%.

To reach these numbers Portugal has counted on the support of many Saudis and other residents in the Kingdom of Saudi Arabia, who choose Portugal more and more as their destination. 

Comporta is one of the top Romantic Honeymoon Destinations for 2018

The well known North American Fashion and Lifestyle magazine, Harper’s Bazaar, has just published a list with its top 18 picks of Romantic Destinations to Honeymoon in 2018, which features Comporta in Portugal.

The publication suggests it to newlyweds looking for a seaside getaway, different from more traditional choices like Ibiza. The highlights are its close proximity to Lisbon, just an hour away; the “rolling dunes” that invite a “walk down the beach in bare feet” and a vast selection of local sparkling wines.

Often referred as “the Hamptons of Portugal,” this region and its picturesque villages, where one can find a sense of “relaxed sophistication”, have already attracted several public figures such as Christian Louboutin.  And who knows, maybe the names of many Saudi Newlyweds can be added to that list. 

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Bdlg 56, Prince Faisal bin Sa'ad bin Abdulrahman St., Al Worood. Perto/near Kingdom Tower
Riyadh, Kingdom of Saudi Arabia

+966 114 826 964
+966 114 822 147
riade@mne.pt (Chancery)
sconsular.riade@mne.pt (Consular Section)

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