During a courtesy meeting with a delegation from Partit Laburista, Malta Chamber...
Lisbon is the capital of Portugal and is also the largest city in the country. It has a population of 567, 657 people within its limits of administration. The urban area of Lisbon, however, extends beyond its administrative limits, and houses a population of 2.4 million. It is the 12th most populous urban area in the European Union. Lisbon is considered to be an alpha city, due to its importance in the finance, commerce, international trade, tourism, education and arts of the country. It is one of the most important economic centers of the European Union.
Lisbon is the westernmost large city that is located in Europe, and the westernmost capital city of the Union. It has a growing financial centre, and is home to the largest container port in the Atlantic coastline of the European continent. It is also ranked at number 25 among the most livable cities in the world. It is the seventh most visited city in South Europe, and records an average of two million tourists per year. The region of Lisbon is the wealthiest in the country of Portugal, and is the political centre of the country, serving as the seat of the government and the home of the Head of the State.
Lisbon is the wealthiest region in Portugal, and contributes to 37% of the Gross Domestic Product of the region. The economy of Lisbon has been historically based on the fishing sector, and today it is based mostly on the tertiary sector. The economy of the city is growing rapidly, especially towards the technological segment, and is developing into a dynamic technological hub. It also houses the largest seaport of the country of Portugal, making it an important city.
Lisbon has the largest as well as the most developed mass media sector in Portugal. It is the headquarters for several mass media related companies that include leading television networks, radio stations and major newspapers. The two main markets of the Lisbon economy are the service and the industry sectors. Within the service market, tourism and business solutions are an integral part. The major industries that operate within Lisbon include automotive industries, cement production, textile, footwear, pulp and paper industry, cork, furniture and oil refineries. Manufacturing industries, in fact, account for around 33% of the exports from Lisbon. Portugal is the fifth largest manufacturer of tungsten and the eleventh largest manufacturer of wine.
The city of Lisbon, as stated earlier, is the wealthiest region in Portugal, with it contributing to around 45% of the Gross Domestic Product of the country. In fact, it is well above the GDP per capita average of the European Union. The Lisbon metropolitan area is a heavily industrialized section of the city, especially around the southern bank of the river Tagus. Lisbon has been rapidly expanding its economy in the recent years, which is recorded in its gross domestic product over the past years. The gross domestic product of Lisbon, according to its purchasing power parity, has increased from €22,745 in the year 2004 to €23,816 in the year 2005 and €25,000 in the following year and €26,100 in the year 2007.
The key industries that function within Lisbon are those of oil refineries, textile mills, steel manufacturing, fishing and shipyards. In the past decade, Lisbon has been preparing to receive a wide range of investments. These include the proposal of a new airport, a new bridge, expansion of an underground route up to 30 km long, and the construction of a large hospital. Lisbon is also receiving investments for the creation of two lines of the TFV that will link Madrid and other cities such as Porto and Vigo with the rest of Europe. In addition, the restoration of the main areas of Lisbon town and the creation of many bike lanes are included, along with the modernization of the different facilities within the city.
Lisbon has a considerable investment-friendly atmosphere, in terms of its policies. It shares good relations and open policies with the seven countries that have the Portuguese language. Among these countries, Brazil, Angola and Mozambique are considerable partners due to their dimension. It is the ideal centre for business enterprises that are looking to increase their export and investment opportunities in these emerging markets, which has a total consumer base of more than 250 million people. Similarly, Lisbon also has friendly investment policies with major countries such as the United States of America and Canada, as well as the Arab countries and the Latin American markets.
The foreign direct investment in the country of Portugal and Lisbon has rapidly improved in the past three decades. Today, foreign enterprises are one of the most important sources of employment and exports in the country. This is evident from the fact that the service sector has gained more importance in Lisbon over the years. The government has taken many important steps to open its economy to the world, by relaxing its sector-wise restrictions and removing a complicated and cumbersome authorization system, and replacing it with a simple and streamlined prior notification system.
The social stability and the active policies that have been passed regarding innovation, entrepreneurship and reduction in complications have developed a very investment friendly climate in Lisbon and stimulate growth and implementation. Lisbon also offers highly qualified, creative, flexible and multilingual human resources to its businesses. The average cost of hourly labor in the country of Portugal is half of the average of the European Union. In addition, Lisbon is the centre of the high quality universities and researchers.
InvestLisboa is a unique website that offers all the resources that an investor would need for investing in Lisbon. This includes contact information, explanation of the investment policies and other useful information for the new investor.
© Copyright 2010-16 Invest in EU All rights reserved.