Foreign investment with potential to generate 28,000 jobs in Portugal

Portugal reached a record number of 200 Foreign Direct Investment (FDI) projects last year, which may generate 28,000 jobs, according to a study by consultancy EY.

International investors continue to focus on Portugal. The country reached a record number of 200 projects related to Foreign Direct Investment (FDI) in 2022 with the capacity to generate around 28,000 jobs, more than tripling the figures recorded in 2020, points out a study by consultancy EY.

These figures allowed the Portuguese economy to climb two positions (8th) in the European ranking for FDI project destinations, with the country placing itself ahead of countries such as Poland and Ireland, which closed Europe’s top 10 in 2021.

With a share of 3.4% of total FDI projects announced for Europe, Portugal’s main investor was again the United States of America (USA), with 30 projects (15% of the country’s total) announced in 2021.

The United States maintains the top position as the main investor in Portugal, but shared this position with Germany, which also announced 30 projects in the country, twice as many as the previous year. France (14.5%), United Kingdom (12.0%) and Spain (11.5%) complete the top five investors in the country.

The EY study also predicts that in the next 12 months, 62% of investors plan to create or expand operations in Portugal, anticipating a record year for attracting foreign investment.

For Miguel Farinha, partner at EY Portugal and responsible for Strategy and Transactions, “Portugal can have a significant role in being not only the bridge between the European block and other markets, but also the comfort zone for investors to deal with uncertainty.”