Portugal has become the new favourite of the tech conglomerates of the world. In the past couple of years, almost all major tech giants have opened up their quarters in Portugal. From names like Google, Microsoft, Amazon to Mercedes, BMW and countless more have established or are in the works of establishing quarters in the territory.
Portugal has been ranked the 4th in the most peaceful countries to live on the list. This factor is more than enough to get any qualified person to work in Portugal but the nation has more to offer with a very good standard of life and amazing wages, privileged hours of daily sunlight, leisure offer, gastronomy, affordability, and healthcare system, contribute to make it the favourite European country for expats to live. English is widely spoken in business, resulting in being easy to find multinational operations with Portuguese, Spanish, British and German people where English is used as the main language. Investors are expressing a growing optimism on the country’s attractiveness with the majority confident it will continue to improve over the next 3 years, exceeding those of Germany, the UK or France, according to the most recent European survey by EY, a consultant company. This is a clear signal for investors to include the country in their shortlist for potential investment locations. Property prices in Portugal are also very competitive, costing much less per square meter than Berlin, Stockholm, Zurich, or London. And with an annual inflation rate of just around one percent, the cost of living in Lisbon is also much lower than the cities. The country also allows a 20 percent tax deduction on investments up to 5 million euros which can lower tax rates as low as 5.5 percent in some cases.
Policy changes in the wake of the global financial crisis have also aided in the flow of business investment in Portugal. All these factors have made Portugal a favourite for not only Tech companies but also almost every company on the market.