AICEP
Agência para o Investimento e Comércio Externo de Portugal

The Organization for Economic Cooperation and Development (OECD) has revised downwards the projection for inflation in Portugal this year to 5.7%, a reduction of 0.9 percentage points compared to the last report.

Overnight stays in Local Accommodation (AL) exceeded 38 million in 2019, representing around 40 percent of total overnight stays in Portugal, according to a preliminary report of a study on the impact of AL in Portugal.

Portugal has been ranked as one of the top 10 international luxury destinations for this summer.

For the past six years, Nestlé Business Services Lisbon has been providing services to Nestlé Group companies around the world from its headquarters in Linda-a-Velha. Now, the company will begin attracting talent from northern Portugal by opening an additional office in Braga.

The Greek Economy publication aims to provide the latest key economic information on Greece in a clear and comprehensive manner.

Lisbon has fallen by several places on the list of the most expensive cities in the world for expatriate workers, drawn up by Mercer. The city is now ranked 117th globally and 39th in Europe.

The first worldwide virtual assistant for voice booking appointments, Lusi, has granted the Lusíadas Saúde Group a distinction at the European Private Hospital Awards.

The aim is to "recover 10,000 olive trees from the more than 200,000 hectares of abandoned olive grove in Abrantes."

A great deal of interest in the real estate market in Porto was registered during the first quarter of 2023 from national and international companies and investors, spanning across several sectors.

What is worrying about productivity today is that data shows that it has been growing at a snail’s pace for the better part of a decade, having been deteriorating steadily dating all the way back to the 1970s.

Countries with elevated housing prices and high household debt issued at floating rates are particularly vulnerable to monetary policy tightening.

The Fourth Industrial Revolution presents both opportunities and challenges for attracting foreign direct investment (FDI) as it significantly transforms how companies organize their international production networks – a key driver of FDI.

The webinar ‘The EU and Canada: A like-minded partnership on circular economy’ will be held on 7^th June 2023 at 15:00-17:00 CEST and is part of a series of events organised around the fifth anniversary of the provisional entry into force of the EU-Canada Comprehensive Economic and Trade Agreement (CETA).

Event | 4 - 5 October 2023, ADB Headquarters, Manila, Philippines.

Condé Nast Traveler has compiled a list of the cheapest cities to travel to over the next few months – and the top of the list is in Portugal.

The director general, Thomas Hegel Gunther, explained that the production of this new vehicle, a hybrid, will begin in 2025.

The governments of Lisbon and Luanda are due to sign over a dozen agreements this Monday morning.

In a sprawling landscape of a windmill farm, how can one possibly stay on top of the performance of each turbine?

For the first time ever there will be a Michelin Guide solely for Portugal, with the Algarve being chosen to host the first Gala in celebration.

Startup Lisboa’s exploration three-day program is destined to foreign entrepreneurs, investors and companies looking to set life and business in Portugal.

A new study has revealed the best wine destinations in the world, with the Alentejo in Portugal making the top 15.

The speaker of the parliament of Madeira, José Manuel Rodrigues, has highlighted the “good cooperation opportunities” of the autonomous region with Arab countries, stressing that “very important steps” are being taken in attracting investment.

The new Photovoltaic Park of Pinhal Novo, in the municipality of Palmela, has been inaugurated today by Voltalia, representing an investment of 11 million euros that will supply electricity to 19 thousand people.

Intertek, a leading Total Quality Assurance provider to industries worldwide, is pleased to announce that it has been awarded a contract by the Government of the Republic of Mozambique, represented by the National Institute of Standards and Quality (INNOQ,IP), to support the new Conformity Assessment Programme for exports to the country.

The underlying inflation indicator (total index excluding unprocessed food and energy products) registered a variation of 5.5% in May (6.6% in the previous month).

Expenditure by foreign tourists in Portugal and by Portuguese tourists in other countries increased by 22.5 percent and 10.0 percent, respectively, in April, in year-on-year terms.

The webinar ‘The EU and Canada: A like-minded partnership on circular economy’ will be held on 7^th June 2023 at 15:00-17:00 CEST and is part of a series of events organised around the fifth anniversary of the provisional entry into force of the EU-Canada Comprehensive Economic and Trade Agreement (CETA).

The consumer confidence indicator increased in May to the maximum value since February 2022, while the economic climate indicator decreased for the first time this year.

Artificial Intelligence (AI) sets new world trends, especially in the ever-evolving fashion industry. Through cutting-edge technology, fashion designers can create, produce and market their products in new innovative ways, as well as contribute to increasing the industry’s efficiency and sustainability.

In the first quarter of this year, 255,000 people had at least two jobs, which represents an increase of 4.5% compared to the end of 2022, according to the most recent data from the employment survey of the National Institute of Statistics (INE).

The 12 meters tall “Wedding Cake”, by Portuguese artist Joana Vasconcelos, is Waddesdon Manor’s latest installation. According to the Financial Times, the fantasia is inspired by a wedding cake, serving as a tribute to the Portuguese baroque.

Performance of tourism on the domestic economy in the first quarter, which grew above the expectations of some of the main economic institutions, has been influencing the forecasts for the country.

Portugal is among the five countries in the European Union with the most robust energy-saving measures, being the only one to transparently report their implementation, according to a report by the European Environment Agency.

The Lisbon Energy Summit & Exhibition, endorsed by the Portuguese Ministry of Environment and Climate Action will take place in Portugal, a world leader in new energies and technological innovation. Taking place at FIL, Lisbon on 30 May – 1 June 2023 it’s set to be Europe’s largest annual gathering focusing on balancing energy security and achieving net zero ambitions, the decarbonisation of existing energy systems and investing in new renewable energy sources.

The Albanian group is now using Frotcom to monitor fuel consumption and has significantly reduced its fleet's fuel costs.

The buoyancy of Portuguese tourism exports in the post-pandemic period implied market share gains vis-à-vis 2019.

The EuraTechnologies programs, which take place in Lille, France, aim to validate the potential of the French market and to support international scaleups in their relocalization to France.

Portugal is the eighth preferred destination for European tourists in 2023, according to the Travel Industry Trends 2023 study, recently released by the Mastercard Economics Institute, which concluded that European tourists are opting for proximity destinations.

Portugal is once again in the Top 10 of the ICCA ranking for countries and cities that organised events in 2022.

The XENIA 2023 fair will take place in Athens, Metropolitan Expo, in the Athens International Airport area, from the 25^th to 27^th November.

UK marketers are fully embracing the opportunities afforded by generative AI. Over the next 12 months, 72% of marketers will prioritise spending on AI and two-thirds (67%) will put up to 30% of their marketing budgets towards the technology.

80% of business leaders anticipate their company’s social media budget to increase over the next three years as 93% agree social media data and insights will be a primary source of business intelligence moving forward.

Global consultancy partnership Kearney has released new data showing revenue predictions and sentiment from senior telecommunications and consumer goods lead around the metaverse.

The meeting in Algiers was attended by the minister of economy, António Costa Silva, who expressed Portugal's desire to increase investment in Algeria fivefold over the next five years.

Revenue from tourism totalled 1.6 billion euros last March, a value that translates into an increase of 36.1% compared to the same month last year and marks a new record for the third month of the year, according to the Bank of Portugal (BdP).

The majority (62%) of companies in Portugal have an 'online' presence - 'website' or social networks -, but "only 16% take advantage of these platforms to generate business".

Portugal's minister of Finance also expects a lower ratio of net public indebtedness to gross domestic product in the second half of the year.

"The first Nobu Hotel and Restaurant in Portugal will be located in the heart of Lisbon, on the famous Avenida da Liberdade," announced the company on their website.

The webinar ‘The EU and Canada: A like-minded partnership on circular economy’ will be held on 7^th June 2023 at 15:00-17:00 CEST and is part of a series of events organised around the fifth anniversary of the provisional entry into force of the EU-Canada Comprehensive Economic and Trade Agreement (CETA).

Wine Vision by Open Balkan, founded under the auspices of the Governments of Serbia, North Macedonia and Albania, will be held from November 16-19 in Belgrade.

According to the central bank, in March, the balance of goods and services became a surplus, having recorded a balance of €164 million.

MetaStudio, a renowned Portuguese game studio, has announced a new partnership with Immutable, a leading Ethereum Layer 2 scaling solution provider, aimed at transforming the gaming metaverse.

Graphenest, a Portuguese nanotechnology company and Graphene Flagship Associated Member, announced that it has raised 1.8€ million in funding to scale up its graphene cleantech production and its commercial business development.

Three years after launching their first wines to the market, urban winery Adega Belém is now being distributed across the UK and in Germany, after joining forces with long-established UK distributor Raymond Reynolds and premium Portugal specialist Karsten Kubin from German Weingalerie Berlin. Both distributors work with upscale HORECA and off-trade.

This article will discuss the tax in France for non-residents and the French tax system. We will also discuss tax-friendly jurisdictions where you can go to reduce your tax liabilities in France.

The STONE IBÉRICA 2023 fair bets this year on the international aspect, with the presence of several key markets in the sector. The event will take place from June 22 to 24 at Exposalão, in Batalha, Leiria.

Last year France remained the main foreign market for companies in Portugal's cork sector, accounting for around 20% of total exports. Spain and Italy were the next most important EU markets.

Between 2010 and 2019, it notes, the percentage of insured people who have used insurance contracts has risen from 53% to 61%.

Portugal has been at the top of the list for countries to emigrate to for a while, particularly if you’re a remote worker embracing the digital nomad life or looking for the perfect place to live out your golden years.

The Lisbon Energy Summit & Exhibition, endorsed by the Portuguese Ministry of Environment and Climate Action will take place in Portugal, a world leader in new energies and technological innovation. Taking place at FIL, Lisbon on 30 May – 1 June 2023 it’s set to be Europe’s largest annual gathering focusing on balancing energy security and achieving net zero ambitions, the decarbonisation of existing energy systems and investing in new renewable energy sources.

Once the pandemic had been overcome in 2022, spending on medical equipment unrelated to COVID-19 care picked up again in the region, and investment in technology increased. The forecast is that the medical equipment market in the region’s top buying countries is set to grow in 2023. There are several reports showing this.

The Algarve and the region's hotels are once again highlighted in the European round of the World Travel Awards, the Tourism Oscars, with the destination receiving a total of 44 nominations this year.

Salted butter and long grain rice were the products that recorded the greatest price correction, while the price of liquid yoghurt was the one that soared the most.

DS Smith, the leading provider of sustainable packaging solutions, today announced an ambitious upgrade program to its kraft paper mill in Viana, Portugal. A multiyear €145M package of investments will bring some of the most up to date paper-making machinery to Viana, rebuilding the mills paper machine and reducing CO2 emissions.

Transcom opened its second site in Porto, third in Portugal. The contact centre is a multilingual hub, serving national and international clients in several languages.

PTW announced plans to grow its global footprint with a new studio in Braga, Portugal, officially opening this summer. The expansion brings the company’s total number of studios to 42, spanning 13 countries and serviced by more than 2.800 employees.

The global engineering vendor with deep mobility expertise expects to have over 100 skilled engineers in Portugal by the end of 2023.

Lisbon has emerged as one of the fastest growing tech ecosystems, becoming a fundamental location for tech start-ups, so it comes as no surprise that travel start-up Bounce ‘packed their bags’ and moved to Lisbon.

GuestReady, the leading short-term rental management company in Portugal, has announced it is opening a new customer support centre in Porto, Portugal. The centre will support all global operations of GuestReady, a company that manages over 4,500 properties in seven countries and which received almost half a million guests in 2022, generating over $90 million for property owners.

Colt Technology Services Portugal (Colt Portugal), a subsidiary of the Colt Group, invested another 5 million euros, in 2022, in the expansion of the capacity of its long-distance network and in the connection to a new data center in Riba d'Ave whose implementation is currently underway. Colt will then have a total of 13 data centres in Portugal.

The Madeira archipelago is once again nominated for the European World Travel Awards (WTA), with five nominations.

Portugal was the second country in the European Union (EU) that grew the most in the first quarter of 2023, according to the quick estimate released by Eurostat.

In the context of the External Cultural Action, AICEP supports the official portuguese representation at the 18th International Architecture Exhibition La Biennale di Venezia 2023, with the project Fertile Futures. The exhibition will run from 20 May to 26 November 2023, at the Palazzo Franchetti in Venice.

Aimed at companies that wish to hire skilled and specialised workers, MOVE is a Portuguese legaltech startup that already has more than 5,000 clients in 12 countries across Europe, America and Africa.

"In 2023, the moderation in food prices is also supported by a suspension of VAT rates for essential food products, effective from 18 April until the end of October," it noted.

Revenue from tourist establishments reached €338 million in March, reveals the INE.

The webinar ‘The EU and Canada: A like-minded partnership on circular economy’ will be held on 7^th June 2023 at 15:00-17:00 CEST and is part of a series of events organised around the fifth anniversary of the provisional entry into force of the EU-Canada Comprehensive Economic and Trade Agreement (CETA).

LISBON DESIGN WEEK is the newest week-long design event spread around Lisbon, alongside LISBON by DESIGN.

LISBON by DESIGN returns to Palacete Gomes Freire for a third edition packed with artists, artisans, studios and galleries. The pieces created exclusively for LISBON by DESIGN will be on display for five days (24^th – 28 ^th May) at the fair.

The Government of Portugal announced the SBEIF, which will take place at the Estoril Congress Center, in Cascais, on October 4th, 2023.

"The technical work is underway so that the auction can take place with the security that we all need and necessarily involving the local units in this effort that is shared by all".

"Since the beginning of 2023, monthly passenger figures at national airports have always been higher than pre-pandemic levels," states INE in its release.

The Lisbon Energy Summit & Exhibition, endorsed by the Portuguese Ministry of Environment and Climate Action will take place in Portugal, a world leader in new energies and technological innovation. Taking place at FIL, Lisbon on 30 May – 1 June 2023 it’s set to be Europe’s largest annual gathering focusing on balancing energy security and achieving net zero ambitions, the decarbonisation of existing energy systems and investing in new renewable energy sources.

Portugal was the second country where the number of foreign investment projects increased the most in 2022 (by 24%). Only Romania had a more significant increase.

Portugal and Spain have signed a new Treaty of Friendship today, that "affirms the shared values" and "updates the cooperation instruments", according to the two governments.

The Digital Oil and Gas Summit is set to take place on the 24th and 25th of May at the Grand Altis Hotel in Lisbon. The event brings together a select group of senior executives from across the Oil and Gas industry for two days of learning, networking, and collaboration. The strategic agenda aims to inspire new ideas and showcase cutting-edge technologies that will drive the digital transformation of the oil and gas sector.

The Greek Economy publication aims to provide the latest key economic information on Greece in a clear and comprehensive manner. Written in both the Greek and English languages, it is designed for users of statistics who seek updated information on recent economic developments, as well as long-term economic trends. It provides information on major economic indicators and time series compiled mostly by the Hellenic Statistical Authority (ELSTAT)

With the publication ‘Living Conditions in Greece’, the Hellenic Statistical Authority (ELSTAT) provides to users significant statistical data reflecting living conditions in Greece, concentrated in one publication.

Excluding fuels and lubricants, there were increases of 20.8% in exports and 13.4% in imports in March compared to the same month in 2022, compared to 9.9% and 14.3%, respectively, in February 2023.

The International Monetary Fund (IMF) forecasts growth in the Portuguese economy of 2.6% this year and stabilisation around 2% in the medium term, pointing to inflation of 5.6% in 2023.

Linkare is nominated for the Portuguese SME Heroes Award, in the category Internationalization, which aims to recognize the SME that stand out for their achieved success in the international market. Voting closes on the 21st of May.

Ten startups from Brazil and Portugal will participate in the Beyond Expo 2023 technology trade show, which kicks off in Macau on Wednesday, with the aim of bringing Chinese investors closer to Portuguese-speaking markets, according to the organiser.

Real estate continues to be a sector that shows resilience in the market.

The plant, which is scheduled to operate in 2024, "will increase the green energy generation capacity in the municipality of Coimbra and will avoid the emission of a total of 57,000 tons of CO2".

Emerging early last year from the strains imposed by the COVID-19 pandemic, an expanding supplier of call center software based in Silicon Valley began evaluating locations in Europe to stand up an engineering hub. Cities like London, Munich, Frankfurt and Paris are the long-established leaders for large-scale operations of the type the company had in mind. But fast-growing Five9, with revenues approaching $1 billion, ticked past those usual suspects and settled on a coastal enclave in Portugal, one that a less rigorous site selection process might have missed. Porto, Portugal’s second-largest city, turns out to have checked all the necessary boxes for Five9.

In the following pages we present the Top Countries and Top Countries Per Capita in our annual Global Best to Invest rankings, topped by the United States, Canada and Germany in the first category and the United States, Canada and Ireland by the per-capita yardstick.

Since its founding in 2008 and early expansion into Brazil, Avenue Code has opened offices in Canada, Northern Europe, and now Portugal to strategically serve its diverse global client base.

According to the most recent data from CLIA – Associação Internacional de Cruzeiros, released at the 2023 CLIA European Summit, the cruise sector generated more than 40 billion euros of economic impact in Europe in 2021.

Lisbon is in 20th place in the ranking, rising four positions compared to last year's list.

"These 25 startups made the best of the opportunity," said António Dias Martins, adding that deals will be closed "certainly in the coming months".