Buying Power in Portugal
What can you buy in Portugal?
Do you want to know what your purchasing power in Portugal will be? It's a good question, especially if you want to settle down in the country. This certainly was one of the criteria that prompted oneself to make that leap of faith. In this article we will demostrate you some numbers that will help see the context more clearly and naturally facilitate a final decision. First, let's analyze these data in the overall picture, and then drill down to distinguish their different purposes.
Cost of living in Portugal: Analysis
To begin, we base our conclusions on a study by the Eurostat website. This study is based on the recovery of information on prices observed in a number of products and services in different countries of the European Union.
According to this study, it was noted that the purchasing power in Portugal is the most interesting, even though it is currently being challenged by the countries of Eastern Europe. But if we consider merely Western Europe, Portugal is the cheapest country to live in and therefore, more attractive.
If you move to Lisbon, Porto or Sintra will have, besides climatic, cultural and tourist benefits, a real financial interest. To give you some numbers, here are the exact results of the study comparing purchasing power in Portugal in relation to five other EU countries. The study highlights the fact that the population looses:
73% of its purchasing power living in Switzerland
39% if you stay in Luxembourg
28% when residing in Belgium
27% living in France,
12% to settle in Spain.
These are quite evident results which speak for themselves ...
More in detail
Let's go, from the statistical analysis, see a little deeper into the results of this investigation. If it is found that the purchasing power in Portugal is on average higher for nationals of other EU countries than in your country of origin, what happens if we examine the consumption in particular areas?
Hotels, restaurants, food, soft drinks, alcoholic beverages and tobacco prices registered in Portugal are the lowest in the market, when compared with those of France, Italy, Spain, Belgium, Luxembourg and Switzerland. With this data, it goes without saying that the quality of life is widely felt if you choose to reside in Portugal.
In the clothing area, compared to the countries mentioned in the previous paragraph, Portugal ranked second, which can be very interesting for you. This is the third position it occupies on all electronic products to the general public.
Where the context is not so favorable is the automotive sector, especially with regard to personal vehicles, the purchase price will be above practiced in other countries due to higher tariffs that are practiced in Portugal. In this case your purchasing power will suffer in the country, unless you take your own vehicle.
Finally, we note that Portugal has rates that operate on a basis of 25% to less than 15% more expensive (except for auto) than the other countries mentioned above, according to the average established in the European Union.
In another article, you can also discover the current Portuguese economy in terms of real estate investment. With all this knowledge available, your decision should be much easier to undertake.
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