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Major Companies Are Moving To Portugal – Here’s Why

Mercedes-Benz-in-Portugal

Some of the world’s largest companies, from Google to Mercedes-Benz, are opening up new technology focused hubs in Portugal. Since the global financial crisis in the early 2000s, the country has passed a number of policies that make it more business-friendly. Those policies, combined with the high quality talent coming out of Portuguese universities and a competitive economic environment, are leading big and small companies alike to set up shop in Portugal.

A handful of the world’s largest companies are opening tech-focused offices in Portugal, while the number of startups in the country continues to grow. Entrepreneurs and economists alike seem to believe this is a sign of things to come.

At the start of the year, news broke that American tech giant Google will open a technology center on the outskirts of Lisbon in the town of Oeiras, creating around 500 jobs. Portugal’s economy minister said talks about the new hub had begun last November during the annual Web Summit, one of the world’s largest technology conferences, in Lisbon. The founder of the Web Summit, Paddy Cosgrave, said there are “rumors” that Google is “the first of a number of high profile tech companies opening major offices in Lisbon”.

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