Thinking of launching your startup business overseas? Or are you looking to globalize your preexisting business? It’s important when you begin your journey towards global expansion that you find a country that best fits your business’s mission and values. This decision can be difficult to make with so many countries now offering diverse benefits regarding business growth. Factors such as a robust economy, great investment opportunities, and a knowledgeable workforce are essential for global business success and expansion. Luckily, Portugal offers all of these benefits and more to businesses in a multitude of industries.
Portugal is one of the leading countries for manufacturing, biotechnology, and information technology within the European Union today. They also produce materials that we see in our day-to-day lives such as fuel, paper, and glass. Most of Portugal’s economy is powered by exports and trade. Much of their manufactured products are exported to other countries within the European Union, and it is Portugal’s geographic location and numerous cargo ports (namely The Port of Lisbon) that make it easy for their export to occur world-wide.
Over the years, Portugal’s economy has seen many fluctuations. However, in 2021 the nation’s GDP skyrocketed to an all-time high of 37.20%. As of January 2022, Portugal’s economy is valued at $260 Billion USD. The nation’s strong economy, knowledgeable workforce, and broad range of industries make it a target location for investors that are growing their business while simultaneously contributing to the economy.
So, if you’re interested in launching your startup, or expanding your business into a country with a booming economy, vigilant workforce, and fantastic growth opportunities, consider Portugal as your target destination. For more information, please download our Destination Guide: Portugal below.