Many Portuguese, including the middle class, are being priced out of Portugal’s property market by rising rents, surging home prices and climbing mortgage rates.
It is probably a combination of wealthy foreign migrants and overtourism.
Portugal had been pushing visas for remote workers around Covid similar to how a lot of poorer cities and states have been pushing for remote workers to move in. Apparently it has been very successful, causing people to get pushed of Lisbon’s city center.
Portugal has also been selling itself as a way to get a cheap European vacation in the USA, which has also helped. I know United Airlines opened up a lot of flights from Newark to various Portuguese cities. Porto has become swamped with AirBnB’s as the city shifts to a tourism economy.
Given that Portugal has economic statistics similar to Eastern Europe, I can see this pushing out Portuguese from their cities and into Newark.
I was surprised to learn Portugal was so poor. I’d be curious to know the history there. They were a powerhouse during the colonial era, so it’s interesting that they didn’t end up wealthy like most other colonial powers.
This country isn’t poor. Far from it. What there is an ingrained mentality that we can’t do any better and lately this was topped with if someone has something or does something they are instantly villains, regardless of they are honest and decent individuals.
We have old money, really old money. Some nouveau riche and a few shit for brains top CEOs that open their mouths to spout idiocy.
Paired with a mentality of “good enough is not enough” makes the average portuguese complain the world is against them and anywhere but here is better. This results in massive waves of highly qualified professionals leaving the country that needs that same people to grow.
Oh, and those who stay? “stupid”, “crazy” and “idiot” are common terms to designate them, by those who leave and even more by those who will never do anything but complain.
Caused by wealthy foreign migrants or are there other factors? For some reason I’ve heard a lot of North Americans talking about moving to Portugal.
It is probably a combination of wealthy foreign migrants and overtourism.
Portugal had been pushing visas for remote workers around Covid similar to how a lot of poorer cities and states have been pushing for remote workers to move in. Apparently it has been very successful, causing people to get pushed of Lisbon’s city center.
Portugal has also been selling itself as a way to get a cheap European vacation in the USA, which has also helped. I know United Airlines opened up a lot of flights from Newark to various Portuguese cities. Porto has become swamped with AirBnB’s as the city shifts to a tourism economy.
Given that Portugal has economic statistics similar to Eastern Europe, I can see this pushing out Portuguese from their cities and into Newark.
I was surprised to learn Portugal was so poor. I’d be curious to know the history there. They were a powerhouse during the colonial era, so it’s interesting that they didn’t end up wealthy like most other colonial powers.
A lot of Europe’s wealth got earned during the Industrial Revolution. Portugal didn’t really participate as much as other nations did.
This country isn’t poor. Far from it. What there is an ingrained mentality that we can’t do any better and lately this was topped with if someone has something or does something they are instantly villains, regardless of they are honest and decent individuals.
We have old money, really old money. Some nouveau riche and a few shit for brains top CEOs that open their mouths to spout idiocy.
Paired with a mentality of “good enough is not enough” makes the average portuguese complain the world is against them and anywhere but here is better. This results in massive waves of highly qualified professionals leaving the country that needs that same people to grow.
Oh, and those who stay? “stupid”, “crazy” and “idiot” are common terms to designate them, by those who leave and even more by those who will never do anything but complain.