By now is no surprise that international investors continue to have confidence in Portugal’s resilience. The geopolitical context of 2022 may be defying what was supposed to be a year of recovery, but even under these challenging times, Portugal was ranked the 8th most attractive economy in Europe.
Tripling the numbers for previous years, the country reached a record of 200 Foreign Direct Investment (FDI) projects in 2021, points a comprehensive study by international firm EY, as cited by ECO. This growth trajectory also propels the creation of more than 28.000 jobs, the study predicts, thus making a strong impact on Portugal’s international attractiveness.
Looking at the bigger picture, Portugal is now responsible for 3.4% of FDI projects in Europe. As for the kind of projects in development, manufacturing and R&D take the lead.
A gateway for IT investments
And what exactly is the fuel for this growth? Software and IT services. Between companies expanding or establishing their operations in Portugal, 65 new IT projects were registered from investors coming from the United States, Germany, France, and the United Kingdom.
Digital economy is particularly hot in Lisbon (71% of investments). And there are good reasons for such: this is the sector that investors are eyeing in the short-term and international firms are making significant investments in technological hubs in the city.
Have you heard of Tyson Foods? It’s one of the world’s largest food companies and has chosen our capital to launch a new tech center!
And now we know the Swiss IT consultancy Zühlke is planning to grow its operations in Portugal with an investment of 1.5 million euros. Their focus is to reinforce the entire software engineering chain, given the easy-access to talent and the opening of hubs by other tech giants interested in Portugal.
That’s right: Portugal is becoming Europe’s new tech hub!
Lisbon and Porto: popular European startup hubs
Climbing two places from the previous edition, Lisbon ranked 4th most popular startup hub, according to a report by DEEP Ecosystmers. Investors also voted for Porto as one of the fastest growing hubs in the ranking, citing reasons such as value for money, supportive ecosystem, and talent availability.
Looking for opportunities to invest in Portugal?
In a path to increase the attractiveness of our new digital economy, YELLOW Portugal is ready to help investors on their way to the top. ESTRATEGOR is our partner and they provide tailored support to entrepreneurs starting up their own companies or those already established.
Feel free to contact us if you’re looking for investment opportunities. We’ll be your gateway to live and invest in Portugal!