Portugal’s Hidden Export Market.

There is a lot of talk about exports leading countries out of recession. Portugal is no exception to this, indeed Portugal has had some success in improving their traditional export market such as shoes, olive oil, cork and wine, as well as increasing their share of high tech exports, particularly in the green energy sector.
Tourism also has been on the rise, in part because of the Arab spring, Portugal recorded record tourist numbers in 2011, Portugal appears to be putting more money and effort into promoting other areas outside the Algarve, to try and take advantage of its abundant riches in nature, history, culture and of course Golf.
There is another big ticket export that never gets called as such, that is the overseas property market in Portugal. Every time someone from outside Portugal, buys a house in Portugal that is an export, a big one. It is also an export that carries with it a higher tax income for the government than most exports.
Portugal property sales have other follow up business also, such as work for constructors, sales of other big ticket items such as cars, furniture and white goods and of course expatriates or people visiting their holiday home consume electricity, gas, pay their taxes, eat and put petrol in their cars.
Much of this money comes from overseas, so once again these transaction are exports. Pretty much whenever someone goes to transfer money overseas an export is taking place, Portugal should encourage the overseas property market make it even easier, speed up planning in the council areas that are obstructive and promote the areas of Portugal where expats are likely to want to move to.
An encouraging start to 2012 has been made with record visitors to Rightmove and www.perfectportugalproperty.co.uk, and the best start to a year in terms of sales made, in three years.