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30 | NEWS EXTRA PORTUGAL WORDS | Geoff Hadwick


BUSINESS


www.opp.org.uk |MAY 2012 Portugal says let’s go


A positive and forward-thinking mood enveloped the Portuguese Chamber of Commerce’s 8th Annual Property Conference in London last month, with more than 100 delegates lining up at the Pestana Chelsea Bridge Hotel to hear how the country is planning to fi ght its way out of the downturn. Even the Secretary of State for Tourism was on the platform, showing how serious the country is about getting its overseas property sector back on track. The event was also backed by Banco Santander Totta and Banco Espírito Santo.


he residential tourism sector is one of the 10 most important issues in Portugal’s national strategic plan ... not least because “it generates wealth and it creates jobs,” Dra. Cecilia Meireles, Portugal’s Secretary of State for Tourism told the Portuguese Chamber of Commerce’s 8th Annual Property Conference in London last month. “And,” she promised the delegates, “my government will launch a new campaign soon as part of a concentrated strategic international promotion campaign to position Portugal as a leading second home destination.” Meireles, the fi rst Secretary of State ever to take part in the yearly


T


“We want to work hard to reach new and innovative markets, like China and the Far East”


conference, said that as well as targeting Portugal’s traditional buyer markets of the UK, Germany, Scandinavia and the Netherlands, “we want to work hard to reach new and innovative markets.” She will be looking at wealthy potential buyers in China and the Far East. Meireles is convinced that Portugal has got what it takes to attract top end investors. “We have got the climate and the lifestyle that they like,” she told the conference. “And these are the two most important factors.”


And, she added, “Portugal is safe and secure, it has a low cost of living and lots of sporting facilities. These are important things to offer too.” For the Secretary of State, there are two key types of buyer: “There is the luxury market and the family market,” she said, “and we appeal to both. We


Where the holiday home hotspots worldwide?


Source: Saviils 45 sq.m


recognise that residential tourism is one of our country’s most profi table sectors. It represents 9.2% of GDP and brought in revenues of €5.2 billion last year.” Tourism accounted for 42.5% of


Portugal’s export revenues last year, making it the country’s largest export sector, with a 13.2% share of the country’s total output.


Credit problems hold back growth potential


The “Living in Portugal” campaign 45 sq.m


will involve the government, the Portuguese Resorts Association and Turismo de Portugal all working partnership, all trying to “capitalise on the export value of residential


Source: Savills


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