Why Portugal is an attractive country to work in Finance?
Posted at 01/10/2021
Portugal is in the Top 10 of investment destinations in Europe
Despite the pandemic crisis Portugal has reached the Top 10 of investment destinations in Europe, positioning itself as one of the main destinations for Foreign Direct Investment (FDI), with 154 registered projects, in a study developed by EY Attractiveness Survey Portugal. This EY study reveals the main considerations of executives regarding their investments, being constituted by a representative panel of business leaders and international decision-makers.
Portugal reached this record number of FDI projects, which more than doubled the value of the previous year and created more than 12.000 jobs. In Portugal the COVID-19 outbreak was effectively an accelerator of technological growth and the implementation of new projects, especially in the digital and technology sectors.
The pandemic also brought an increase in remote work, with the possibility of working virtually, without the need to emigrate. According to the study, the manufacturing industry continues to lead with 24% of projects, especially in the automotive industry. In second place came investments in IT and digital services. Also noteworthy was the establishment of Microsoft in Lisbon or the investment of Altice Labs in the Azores.
We recall that in 2009, Portugal presented a series of tax benefits for both EU and non-EU citizens, which made it easier to obtain residence and made it financially profitable to settle.
Portugal is a country with unique characteristics:
- It has a mild climate, very pleasant.
- Safety. There is a perception of Portugal as a safe country.
- Good quality of the educational system.
- Hospitality of the Portuguese people.
- Friendly culture. It has a very rich cultural heritage.
- The gastronomy, very appreciated.
- English level of a good part of the population.
- Cost of living. The cost of living in Portugal is relatively low compared to other destinations in Europe.
- Availability and qualifications of the labour force. Skills of the workers, both in terms of training and soft skills.
- Health. Portugal's public health system has an excellent reputation.
Main factors of attractiveness in Portugal?
- Quality of life and social stability.
- Reliability and coverage of infrastructures (transports, telecommunications, and energy).
- Talent in the labour market.
Investors are optimistic about the attractiveness of Europe as an investment destination in the next three years, reinforcing the importance of the issue of digital acceleration. A kind of hub for creative and technological start-ups is gaining amplitude in Lisbon. Get to know the specialists' perspectives on the challenges or opportunities in 2021. In short, Portugal positions itself favourably in the European context, and in this study the executives surveyed considered that Portugal will be the 8th most attractive country in 2021.
What about training in Finance?
If you are interested in strengthening your academic skills, in terms of training in Finance, Portugal has four masters degrees among the 55 best in the world. For the 10th consecutive year, Nova School of Business & Economics (Nova SBE) is the best ranked portuguese university in the Financial Times Masters in Finance Ranking. In addition to Nova SBE, the Ranking Masters in Finance 2021 distinguishes the masters degrees of Católica-Lisbon, ISEG and ISCTE Business School.
Best companies to work for in Portugal
And in terms of companies, what are the best places to work? Discover the TOP 30 of the best companies to work for in Portugal, as distinguished by Great Place to Work, an international organization that helps organizations to identify, create and maintain excellent working environments.