Business environment in Portugal
Portugal emerges as a vibrant hub for investment and entrepreneurship, offering a favorable business environment bolstered by strategic geographical location, economic stability, and progressive policies.
Lisbon, Portugal | Andreas Brucker © Unsplash
Portugal’s geographical position makes it a gateway to international markets and the economic stability minimizes the risks for foreign investment.
Another aspect to take into account is Portugal’s skilled and multilingual workforce, proficient in English, Spanish, and French, facilitating communication and collaboration in an increasingly globalized marketplace. The added plus of this workforce does not extinguish the need to understand and respect local cultural norms and sensitivity which is key to conduct business successfully. The different ecosystems that Portugal harbours make this an increasingly interesting and dynamic market to work with, where business growth and innovation are realities.
Communications, media and PR market in Portugal
Portugal has a limited media landscape, with fewer media outlets when compared to other European countries and the majority of them are concentrated in Lisbon and, secondly, in Oporto. In recent years, Portuguese media has been facing economic struggles due to the scarcity of financial resources and fewer readers maintaining the habit of buying print newspapers and paying for online subscriptions. In that environment, PR practitioners meet an extra challenge: communications messages must be ever so more strategic and targeted, considering the type of media and the journalists to be reached and influenced. Considering this crowded landscape, building and having close relationships matter when reaching journalists in different fields such as real estate, consumer goods, tourism, hospitality, lifestyle, luxury or fashion. Adapting to the market environment, strong connections with journalists and the integration of AI tools available for PR and communications are the everyday realities PR professionals have to consider and work with.
Key expertise of Global.
- Strategy Advisory
- Public Relations
- Influencer Marketing
- Digital Marketing
- Event Production
Top 3 advice for foreign companies to navigate the media and communications environment in Portugal
Cultural Sensitivity: Portugal has a unique cultural identity and values, which are often reflected in its media and communications landscape. Understanding Portuguese culture, traditions, and societal norms is crucial for effective communication. Respect for local customs and traditions will enhance your company’s image and credibility.
Localize Content: While English is widely understood, particularly among younger generations and professionals, Portuguese remains the primary language of mass communication. To effectively reach your target audience, localize your content by translating it into Portuguese and adapting it to resonate with Portuguese audiences.
Build Relationships with Local Media: The media landscape in Portugal is rather small and limited, therefore, establishing relationships with national media outlets and journalists is essential for gaining visibility and credibility in the Portuguese market. Engage with local journalists and offer them valuable insights, story ideas, or expert opinions related to your industry, and find interesting connection points.
Most influential media for consumer communication in Portugal
Observador – Portugal’s biggest online news outlet.
Visão – Weekly magazine covering business, culture, society issues and more.
Sábado – Weekly magazine dedicated to current affairs, interviews, opinion pieces and reports.
NiT – Online outlet dedicated to hospitality, events, style and entertainment.
Most influential media for corporate communications in Portugal
EXPRESSO – Portugal’s major weekly print and online outlet.
Jornal de Negócios – Economy & Business daily print.
O Jornal Económico – Online and print weekly outlet covering economic, finance, business, and politics.
SIC Notícias & CNN Portugal – Major national broadcast news stations.
Most popular social media channels in Portugal
- YouTube: 7.43 million users – YouTube is the most used social platform in Portugal, reaching 85% of the population, across all ages.
- Facebook: 5.9 million users
- Instagram: 5.3 million users – 54% of users are female. Potential ad reach in Portugal decreased 1.9%, between 2022 and 2023.
- LinkedIn: 4.30 million users
- TikTok: 3.24 million users – The social platform that has registered the biggest increase of active user base since 2022 (6.8%).
- Pinterest: 2.06 million users
- X: 1.90 million users
- Snapchat: 1.10 million users
Most important international events in Portugal
WEB SUMMIT LISBON – Web Summit brings together 70,000+ people, and the companies redefining the tech industry for a week in Lisbon every year, and turns the city into a new business and cultural hub.
ROCK IN RIO LISBOA – Rock in Rio is one of the largest music festivals in the world, and every year attracts millions of visitors in the city.
ARCO LISBOA – Every year ARCO transforms the Portuguese capital into a meeting point for collectors, gallerists, artists and professionals from all over the world.