ºìÌÒÊÓƵ Blog - By Tag: portugal

The global housing market has been encountering a multitude of issues, including but not limited to price increases, government interventions, and disparities in economic conditions. Some countries around the world are showcasing strong resilience, while others are facing serious challenges.

While the U.S economy has been strong through 2024 following the pandemic, the European economy has lagged. and the U.K., the two European economies, narrowly avoided a recession. This is partly due to lower government spending, resulting in lower consumer and private spending.

Portugal, renowned as the globe’s and the , is home to a wine industry worthof euros, providing livelihoods for . Nevertheless, this thriving sector finds itself at a crossroads as it grapples with particularly daunting challenges: an and the ever-looming specter of .

In 2011, Portugal was hit by a severe economic crisis and the government needed an for austerity measures. The effects of this crisis are still relevant to this day as the unemployment rate in Portugal just rose to 14.1%. Simply put, this has been the worst recession for the in more than 40 years. Now an important question remains unanswered—as a nation and a workforce, how do you recover from this economic hardship?

Following six long years of recession, which reduced by a quarter of its size and rose unemployment to 28%, is finally expected to . A poll of 35 economists and strategists suggested an expected growth rate of 0.3% for the Greek economy, while analysts at the and proposed a slightly more optimistic 0.6% rate.

Today’s traveler is different than it once was. People are interested in finding unique and adventurous destinations rather than the typical beach vacation. This is great news for smaller countries rich with cultural and historical attractions. People want to be taken off the beaten path, and local businesses around the world are profiting.

may be known to many for port wine and perhaps even fado music, but there are in the Portuguese market than people may realize. And realizing this is something that can prove very valuable to businesses looking to export to other areas of the world, especially for the . Portugal is not only a member of the European Union, but it has very strong ties to the U.S., meaning many American companies who have set up operations there have access to the EU market, giving it a huge advantage.

is a good market for U.S. exports and it's comparatively easy to do business with. Surprisingly, building relationships there can lead to sales in other parts of and also in , a former colony and one of the fastest growing markets in the world. Listen to this featuring U.S. Commercial Service Senior Commercial Officer Dillon Banerjee from the embassy in Lisbon.