PORTUGAL - THE FUTURE HAS ARRIVED and there is NO TURN BACK
Portugal has seen a significant increase in migration in recent years, both inbound and outbound. In 2022, the country received more than 118,000 immigrants, the highest number since records began.
Many immigrants come from countries that have suffered economic crises, such as Venezuela, Angola and Brazil. They look for better job opportunities and a better quality of life in Portugal.
Portugal has one of the oldest populations in Europe. Migration helps offset this phenomenon and maintain the country's workforce. That is why Portugal has implemented more favorable immigration policies in recent years, such as the creation of visas for digital nomads and granting residency to foreign investors.
The Brazilian community in Portugal is the largest, with more than 200,000 people and a number that is growing.
Cape Verde is the second most important country of origin, with more than 50,000 immigrants.
The UK is also a major source country for immigrants to Portugal, especially since Brexit.
Most immigrants in Portugal settle in the main cities, such as Lisbon, Porto and Faro. However, there is also a growing trend of migration to rural areas, especially in the interior regions of the country.
The Portuguese government is taking measures to address these challenges and to ensure that immigrants have the same opportunities as Portuguese citizens. These measures include the creation of social integration programs, the fight against discrimination and improving access to education and health care.
However, the reality is that these objectives are not being met in their entirety. Although in Portugal there is less rejection of immigration than in other central European countries and the need to provide youth strength to the country is more accepted, some sectors have begun to raise identity problems.
The outlook for Portugal in the coming years is moderately positive, with expected economic growth and progress in areas such as sustainability and digitalization. However, there are some challenges that the country will have to face.
The Portuguese economy is expected to grow at a moderate pace in the coming years, driven by tourism, exports and investment. The Bank of Portugal estimates growth of 1.2% in 2024 and 2% in 2025 and 2026.
The budget deficit is expected to continue to decline in the coming years, reaching 0.1% of GDP in 2024. This will help reduce public debt, which currently stands at around 130% of GDP.
Portugal is committed to becoming a more sustainable country. The government has launched an ambitious plan to reduce carbon emissions and increase renewable energy production.
Portugal is advancing in its digital transformation process. The government is investing in improving internet connectivity and developing new technologies.
The war in Ukraine and geopolitical tensions in general could negatively affect the Portuguese economy, especially through rising energy prices and disruptions to supply chains.
Portugal has a relatively low unemployment rate, but there is a shortage of skilled labor in some sectors. This could hinder economic growth.
Tourism is an important sector of the Portuguese economy and is expected to continue growing in the coming years. This will benefit local businesses and create jobs.
In general, Portugal is a country with a promising future. The country has a strong economy, a stable government and a well-educated population. With continued leadership and investment in the right areas, Portugal can reach its full potential in the years to come.
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🔎 I am Gustavo Llusá, Argentine, after traveling for several years through more than 70 countries I settled in Latvia where I married Dace and learned to know another way of life, on the other side of the map.
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