 Portugal general informations The cost of living in Portugal is still lower comparing with other European nations, even since it joined the European Union in 1986. Prices of goods have gone up but are still affordable. As of the present, living in Portugal can be ideal if an expatriate gets to have a steady job earning around 1,000 Euros every month. Compared to the United Kingdom, prices of commodities, rentals and leisure are still much lower. Living in the capital city or in Oporto will definitely be more expensive but the Silver Coast, Central Portugal, Alentejo and the Northern areas of the country still have several cheaper wares and places to offer.
Overall, the cost of living in Portugal heavily depends on the location as well as the lifestyle of the individual. It is possible to live comfortably if one chooses the right areas to sustain both needs and wants. Portugal’s economy recently ranked 40th in total GDP at over 230 billion Euros. Per capita GDP is estimated to be around 23,000 Euros which is at 34th place. Income equality is considerably good and the country still enforces free market. Standard of living according to the Economist Intelligence Unit or EIU puts Portugal at the 19th spot in terms of quality of life. Food and Drinks Costs in Portugal Portugal used to rely heavily on trade although in recent years, export has begun to decline in comprising the bulk of the economy. As of now, there are still a lot of agricultural and food products available at moderate prices.
Expatriates can enjoy cheaper goods in the countryside as well as in the coastal areas since these places harbour rich raw materials fresh from the ocean. Seafood in Portugal is very abundant and also affordable. There are varieties of ocean bounty such as shrimp, crab, mackerel, sardines, bass and tuna. If buying at local wet markets, prices are considerably low but the rates after due tax will increase if sold at supermarkets and shops.
Wine is also abundant in Portugal since several regions make and distribute it locally and for export purposes. Red, white and green wine is available in most wineries and home cellars. Prices depend on the quality, age and maker. Expatriates may be able to find Port wine at very reasonable rates but buying at commercial wine shops will surely be more expensive. Portugal also makes several varieties of cheese and these are available at very affordable prices. Meat products like beef, lamb and pork are moderately priced just like poultry and eggs. The average Portuguese spends around 150 – 200 Euros every month on food and drinks. Clothing and Accessories Costs in Portugal Clothes and accessories are cheaper in Portugal than in other European countries. People may have noticed that prices of goods and commodities have gone up. Quality clothes made locally are expensive and are particularly manufactured for export. At bargain shops there are also more affordable wares and accessories.
Electronics and computers are also slowly rising in costs but expatriates may still comparably see the cheaper difference. Imported goods are expensive in Portugal but there are many who still prefer to purchase locally made products. Designer labels in commercial establishments are pricey as well as those in department stores and boutiques. Street vendors and flea markets offer considerably lower rates but quality of these goods are still questionable. Housing Costs in Portugal Major cities in Portugal like Lisbon, OPorto and Cascais have high costs of living but the rural areas are still open at affordable rates. A single person can live comfortably earning 1,000 Euros every month. About 300 to 500 Euros can get quality rental space inclusive of water supply, electricity and gas consumption.
Resort living is significantly cheap but the location may also be the reason for high unemployment rates. Big cities are conducive for business owners since these have excellent resources and communication links.
Land and home ownership is easy to come by in rural areas especially for foreign investors. There are some taxes needed to be paid before due ownership. Owning land in the countryside can be reasonable in terms of price too. In rural areas, although unemployment rate is a little higher, majority of Portugal’s total population are actually located there. Several families living in the city also have an extra house in the country which explains why there are more houses than people in Portugal. Services Costs in Portugal Portugal has recently been in shortage of medical professionals but their standard of health care in terms of service and equipment are still good. Public hospitals are partly subsidized by the government and most Portuguese have insurance policies that are well supported. Transportation in major cities is excellent and well maintained.
A lot of public schools are available in urban, suburban and rural areas which are subsidized by the Portuguese government. Some problems lie with high illiteracy rates at almost 8% as well as dropout rates. There are also a number of excellent universities which are linked with good names in the United States and the United Kingdom. On the other hand, students can opt for Polytechnic courses. Meanwhile you will find also excellent international schools in different parts of the country. Employment Costs in Portugal Overall, Portugal has an unemployment rate of 7.6% which is the 48th lowest all over the world. The income equality and economic freedom are still in good condition. GDP per capita is also stabilizing at over 22,000 Euros. Portugal needs more people to help its growing need of health care. Business investors from foreign countries are also welcome. Exportation of wine, cork, textile and furniture are the new economic trends of Portugal unlike before when it heavily relied on agriculture and fishing. Recently, it is also making its move in the stock market and business arena which expatriates may find promising in seeking employment. Retiring to Portugal Officially known as Portuguese Republic, Portugal is a country rich in history. The reality that it was home to historical personages like Bartolomeu Dias and Vasco da Gama makes Portugal a perfect place to retire for the Old World European lover. Climate in Portugal Portugal is a country subject to two different types of climate: oceanic and Mediterranean. Northern Portugal has a climate consisting of the former. That means that that the temperature and weather in the north are almost always moderate - not so hot during summers, not too cold during winters. The Southern part is dominated by the Mediterranean climate which might consist of very hot summer days.
Portugal is known to be one of Europe's warmest countries. In truth though, its average yearly temperatures of 18 degrees Celsius in the south and thirteen degrees Celsius in the north are still much cooler than any tropical country's. There are parts of the country which may exhibit extreme weather conditions. Examples are the extreme north locations which may reach temperatures of up to - 4/6 degrees Celsius during the winter and the south locations with summers reaching up to a sweltering 40 degrees Celsius. Government in Portugal The constitution laid down in 1976 formed the government of Portugal to what it is today. With Lisbon serving as its capital, the government of Portugal is divided into four elements. The division of powers among the executive, legislative, and judicial components is granted by the powers of the country's constitution.
The first element of the Portuguese government is the country's president. The presidential seat is merely supervisory and non-executive with a term lasting up to five years. The second element is the country's parliamentary body called the assembly of the republic. This parliament is unicameral consisting of 230 seats for deputies with terms lasting for four years.
The next element, the government, is ruled by a Prime Minister. The Prime Minister is the one responsible for appointing state secretaries and ministers which make up Portugal's Council of Ministers. The two political parties dominating both the parliament and the government in Portugal are the Socialist and Social Democratic Parties. The last element of the Portuguese government, the courts, is organized into judicial, fiscal, and administrative. Tax System in Portugal The tax rate for Portugal for the year 2007 is between 10.5%-42%. Some residents with incomes of specific types are granted tax exemption. For example, a resident with less than 149,753 Euros in annual income will be waived his/her annual tax fee. If you decide to move to Portugal and become a resident, you will be liable to pay taxes. Someone who works in Portugal will be taxed for earnings made in the country.
For you to be recognized as a resident of Portugal, you must have been living in the country for a minimum of 183 days. Sometimes, even less than one hundred eighty three days would suffice if you have a property in Portugal you can declare as your main residence. December 31 is the end of a taxable year in the country. Individuals are expected to file the tax details by the 30th of April. Medical Care in Portugal Despite being a developed country, the health care in Portugal is ranked among the lowest in the Western European regions. However, the country does present peace of mind regarding medical care since it has a ratio of 2.9 doctors to 1,000 patients which is higher than that of its neighbouring countries. These health care practitioners, however, are centered in the urban areas of Portugal, meanwhile even the rural areas which were before permanently in need are better served.
Portugal has a health system which pays for a resident's hospital and medical bills in full. The system is offered by major urban hospitals, the regional ones, and several health centers. Real Estate in Portugal Some years ago the majority of the rural areas in Portugal had no supply of electricity which prompted the residents to move to urban establishments. This caused over-population in Portugal's urban dwellings, especially in Lisbon, where there is estimated to be 200,000 illegal housing structures. The rental percentage in Portugal is 60%. In fact, even the opulent residents of country opt to live in rented apartments that the city of Lisbon is riddled with high-end buildings for their usage. Shopping in Portugal Shopping centers in Portugal usually operate seven days of the week from 10:00 am to 11:00 pm. Since Portugal is a member of the Euro zone, its currency is in Euro. Different banks exchange for different rates and with varying commissions charged. Currently, MultiBanco (MB) ATMs are all over the country which charge currency exchange commission of only 2%. Standard credit cards such as MasterCard, Visa, and American Express are accepted in Portugal. Eurocheque cards are also accepted and traveller's cheques are gladly exchanged. Cost of Living in Portugal Cost of living in Portugal has risen in the last decade. Still, it remains cheaper than the rest of its neighbouring Western European countries. As expected, high-end places in Portugal like Algarve's golfing areas are expensive, but away from the country's fashionable destinations, prices are quite low. To reduce every day costs, steer clear of plush supermarkets and venture to the street markets popular all over the country with fresh produce straight from the farms. The most expensive regions of Portugal are Lisbon, Oporto, Estoril and Cascais. The most reasonable place to live on the other hand is in the Silver Coast, Central Portugal, Alentejo and the northern parts of the country. General informations Population: 10,562,000 Size: 35,553 sq mi  The country is crossed by rivers rising in Spain and flowing to the Atlantic; among them are the Douro, the Tagus, the Sado, and the Guadiana. The river valleys support agriculture, and vineyards are maintained in the Douro and Tagus valleys. On the lower hillslopes there are olive groves; grains are grown and livestock are raised on the flatter uplands as well as on the plains near the coast.
Portuguese agricultural techniques are less mechanized than those of most of Europe, and less than 10% of the gross national product can be attributed to agricultural production. Wheat, corn, potatoes, tomatoes, grapes, sugar beets, and olives are the main crops; sheep, cattle, and goats are raised. The country's fishing fleets bring in vital cargoes of sardines and tuna; fishing ports extend all the way from Cape St. Vincent in the south to the mouth of the Minho River on the North Spanish border.
In addition to light industries such as food processing and textile, chemical, and paper and pulp manufacturing, Portugal has a limited variety of heavy industries. Low-grade coal, copper pyrites, iron ore, tungsten, and other minerals are mined. Most of the mines are in the northern mountains and in Beira. Portugal provide a major portion of the world's supply of cork.
The country has enjoyed considerable economic progress since it became a member of the European Community (now the European Union) in 1986. Machinery and motor vehicles, textile fibers, petroleum, and cereals are major imports, and cotton textiles and wine as well as cork, other wood products, and fruit are major exports. European Union and African countries are the main trading partners.
|