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.