Economics Explained
How a new type of immigration is radically changing Portugal's economy.
Jul 8, 2024
Explore how Portugal's economy is changing with the influx of digital nomads, boosting local spending and investment. However, rising housing costs pose challenges for residents. Learn about the balance between economic growth and affordability in Portugal.
11:48
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Quick takeaways
- The influx of digital nomads in Portugal has boosted economic growth through increased spending and investments in local businesses.
- However, rising housing prices and rental market challenges caused by digital nomads are creating affordability issues for local residents.
Deep dives
The Rise of Digital Nomads in Portugal
Portugal has seen significant economic changes due to the influx of digital nomads attracted by its warm beaches, vibrant culture, good internet speeds, and affordable living costs. This trend was further bolstered by the introduction of the digital nomad visa in 2022, leading to economic benefits like increased spending and investments in local businesses. Despite boosting the economy, the rise of digital nomads has caused housing price surges and rental market challenges, creating a divide between locals and high-spending nomads.
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