Portugal as a market
Portugal is a uniquely placed hub with access to essential shipping routes to America, Europe, Africa and Asia, making it appealing for any company or investor. Additionally, Portugal is the closest European country to North America and only has a 3-hour time difference to both São Paulo and Moscow. Portugal bridges the Lusophone market, which includes 260 million people, including Brazil, Angola, Mozambique and the South American countries. Portugal had a steady economic growth estimated to 1,9 pct. for 2020 before the corona crisis and a large pool of talent and higher educational institutions as well as high English language proficiency.
The country has good infrastructure with several ports (including deep-sea), airports, a well-maintained road network as well as a wide and efficient IT and tele-communications network. In addition, Portugal has several industrial clusters, e.g. in the maritime economy, energy, textile and shoes, pharma and agro-food, from which Danish companies can benefit. It is also easy to register new companies and properties. World Bank's Doing Business Report 2015 ranks Portugal as no. 13 in the "Starting a Business". The national minimum wages are furthermore lower than countries such as Greece and Slovenia and almost half of the minimum wages in most northern European countries.
Denmark has a well-known and well-regarded reputation in Portugal and Danish businesses are known for providing innovative products and solutions of high quality. Potentially interesting sectors for Danish companies are energy efficiency and renewable energy; health, welfare technology and biotechnology; green knowledge and technology in the water sector, such as sewage, building and green renovation; as well as machinery and equipment for food production.
Facts about Portugal as a market:
- 12th out of 100 countries regarding English language skills;
- 12th out of 118 countries regarding ease of finding skilled employees;
- 21st out of 118 countries regarding the availability of scientists and engineers;
- Possible to start a company online in 46 min.
Take a look at some of Portugal's industries with a great potential for sourcing and relocation of production in the menu below.