Described as Portugal’s “biggest promotional event in France and Europe”, it will be held between May 14 and 17 at the Porte de Versailles exhibition centre in Paris.
With the event just months away, organisers are calling on businesses and entities to sign up and book their space at the event so that they can showcase the unique opportunities that Portugal has to offer.
Speaking to the Resident, event director Ricardo Simões said that this year the focus will not only be on the country’s real estate opportunities but also on helping potential investors understand “why they should move to Portugal, where to invest their money and how the country’s tax system works”.
“We needed to change the name of the event because the reality of the property market has changed. Prices have increased, which led us to modernise the way we approach the event,” said Simões.
“There are different reasons to come to Portugal, and we try to guide, inform and help those who are interested.”
The Algarve remains one of the most attractive destinations in Portugal for foreign investment, alongside Lisbon and Porto, but Simões believes there is still “huge room for growth” especially in sectors such as business tourism, residential tourism, events and the region’s health sector.
“The Algarve can also attract talent by showing people the kind of lifestyle they can enjoy here and the facilities that they can benefit from,” he said.
Simões also said the region’s activity level in summertime is still a far cry from the slower pace of the winter season.
“It will perhaps never reach the same level, but there is still a lot of room for growth. In fact, it could even be beneficial for the region’s youngsters. For example, I am from the Algarve, and when I was younger, there weren’t any job opportunities that matched my level of ambition. Today the situation is different, but it could still be much better,” he said.
InPortugal 2020 aims to showcase all these opportunities not only in the Algarve but throughout Portugal.
The event has played an important role in the so-called ‘boom’ of French demand for real estate and investment opportunities in Portugal.
As organisers point out, French citizens topped the list of foreign buyers of property in Portugal in 2018, having purchased over €671 million-worth of real estate in the country.
Data from the French-Portuguese Chamber of Commerce also shows that there were around 750 companies with French capital in Portugal in 2018, providing employment to 60,000 people.
Organisers believe the “tendency will be for this number to increase” as the country offers good conditions for foreign companies to expand to Portugal, namely in the sectors of “new technologies and services”.
Tourism-wise, Portugal welcomed around three million French holidaymakers in 2018, up from just 600,000 in 2010. France now accounts for 13% of all foreign visitors, the third largest percentage behind just Spain and the UK.
InPortugal is expecting to welcome around 12,000 people. Since the event started being organised in 2012, it has welcomed around 75,000 people.
This year’s edition will be held in a 5,000sqm area and feature around 200 exhibitors.
There will also be a programme including 40 conferences and presentations spanning themes such as investment, new real estate tendencies, health, entrepreneurship, taxation, sustainability and tourism.
One of the novelties will be an award ceremony to reward successful programmes, companies and institutions.
More information about the event and how you can sign up for it here.