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Get to Know About Portugal
Portugal is a sovereign nation sitting along the Atlantic Coastline of the Iberian Peninsula in southwestern Europe. The Atlantic Ocean borders it to the west and south, and Spain to the north and east. Lisbon is the capital and the largest economic center.
The people of Portugal are Roman ethnic group native to Portugal that speaks the Portuguese language. Some sections of the Portuguese have traces of Germanic tribes. The total population is around 10.3 million.
Tourism remains the largest economic driver in Portugal. Again the rising private consumption powered by the escalating wages and employment dynamics gives a good economic indicator. Portugal’s economy was on the verge of collapse, but following a $92 billion bailout by the European Union in 2011, the country is slowly bouncing back. The budget deficit continues to be at its lowest, low unemployment levels, highly skilled workers are some key pointers of doing business in Portugal. However, the economic crisis had a great impact on the economy, leading to low wage rates; budget cuts on the health care system bringing a sense of precariousness in Portugal. The fortunes of Portugal will only get better through rising of incomes, uplifting private investment, and having sound public finances. Doing business in Portugal is relatively high in the sense that foreign direct investment is on its peak due to low public debt deficit and reduced unit labor costs.