Industries with the highest growth in Portugal

Portugal’s economy is diverse and ever-changing, and the country’s future economic direction is being shaped by the rise of many industries. Some of these industries are examined in this article; they have shown notable growth and hold great promise for entrepreneurs and investors.

• Technology and Digital Transformation

Portugal’s greatest growth engine has been the digital transformation. Businesses that specialise in e-commerce, analytics, and business intelligence have witnessed a surge in demand for their services due to the growing need for digital solutions across all industries. The necessity for operational efficiency and the enhancement of the consumer experience on digital platforms are the driving forces behind this expansion.

• Renewable Energies

Portugal has made significant investments in renewable energy, concentrating mostly on wind and solar power. This investment fosters employment and technological innovation in addition to contributing to environmental sustainability. Businesses like EDP, a pioneer in the energy industry, have been essential to this growth.

• Tourism and Accommodation

Despite the obstacles the pandemic has presented, Portugal’s tourism industry is beginning to rebound. The Gross Value Added (GVA) of food and accommodation services in particular increased significantly, demonstrating the sector’s flexibility and durability.

• Transportation and Logistics

There has also been a surge in activity in the transportation and logistics sector, particularly in the sporadic passenger transportation in light cars. This growth is linked to the rise in e-commerce and tourism, both of which demand quick and effective logistics.

• Construction and Real Estate

Another industry that has grown rapidly is building construction. The Portuguese economy has seen significant growth in the construction sector due to the country’s growing urbanisation and need for contemporary infrastructure.

These are only a few of the sectors of the Portuguese economy that are flourishing. Portugal is a desirable site for company development and investments due to its advantageous business environment and strategic position. It is anticipated that these sectors would keep expanding and provide a vibrant and long-lasting economy as the nation progresses.

Pordata and Dinheiro Vivo’s data can be consulted to learn more about the expansion of industries in Portugal.

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