1. Lisbon Will Host First Edition of the Portuguese Guitar Festival

For the centenary of Carlos Paredes, Lisbon will host the first-ever Portuguese Guitar Festival on March 7th and 8th, across five prominent venues, including Cinema São Jorge, Capitólio, and Variedades. Note that Carlos Paredes was a renowned Portuguese composer and virtuoso guitarist, widely regarded as the father of Portuguese guitar music. With over 80 musicians from various generations and styles, the festival will offer a diverse program featuring concerts, lectures, and documentary screenings. The opening will feature the Orquestra Sinfonietta de Lisboa, conducted by Vasco Pearce de Azevedo, and guitarist Paulo Jorge performing the original composition “Mata de Lobos.” Throughout the festival, other performances will include recitals by Henrique Fraga, Armindo Fernandes, José Manuel Neto, Pedro Caldeira Cabral, and a special tribute to Carlos Paredes by Luísa Amaro, “Sons da Guitarra — 100 anos de Carlos Paredes.”

In addition to the concerts, the festival will include insightful lectures, such as “António Chainho interviewed by Moema Silva,” exploring the illustrious career of guitarist António Chainho, as well as a conversation with Luísa Amaro about her artistic collaboration with Paredes. A hands-on workshop on guitar-making, led by the esteemed Acácio Rodrigues and Rita Marcelino, will provide attendees with practical insight into the craft. The festival’s evenings will conclude with an open gathering and autograph session at Cinema São Jorge, giving fans and artists a chance to connect and celebrate the legacy of the legendary Carlos Paredes.

Read more from our source here.

2. Portugal Has Two of the Fifteen Best Private Schools in Europe in 2025

The latest Carfax Education Global School Index for 2025 includes two Portuguese schools: St. Julian’s in Carcavelos and St. Peter’s in Palmela. Recognized for their academic standards and university preparation, both schools stand out for offering exceptional educational experiences. St. Julian’s is known for its comprehensive facilities and focus on international education, while St. Peter’s provides a strong bilingual curriculum with an emphasis on holistic student development.

Portugal’s inclusion in this prestigious list highlights the country’s growing reputation in European education. These schools, alongside other elite institutions in Europe, have made a name for themselves with their academic rigor and their ability to prepare students for life beyond the classroom, using modern teaching approaches and facilities that match international standards.

Read more from our source here.

3. Some Portuguese Soccer Clubs Are Being Used for Money Laundering

Portuguese clubs have been implicated in laundering illicit earnings, raising serious concerns among authorities. Luís Ribeiro, coordinator of the PJ’s National Anti-Corruption Unit, explained at the FITS Forum 2025 that some clubs have seen capital enter with unclear origins and objectives. The situation is particularly troubling when large sums of money are invested in clubs by individuals whose intentions remain ambiguous, drawing attention from investigators eager to understand the end goals of such investments.

Ribeiro also highlighted the challenges faced by the PJ when dealing with financial irregularities, such as inflated contracts and commission payments to intermediaries, which serve to create the appearance of legitimate business dealings. Image rights, he pointed out, operate as undefined commodities, and money circulates in ways that are not easily traceable. These activities point to a broader issue in which money flows out of clubs without clear accountability, reflecting a pattern not limited to the sports sector, but also present in both public and private industries.

In response, the Portuguese Football Federation (FPF) has acknowledged the gravity of these concerns. The FPF has dedicated resources to gather and verify information about investors in the clubs it licenses, whether they are true shareholders or “front men.” In addition, the FPF works closely with the PJ and other relevant authorities, demonstrating its commitment to transparency and accountability in football. This cooperation aims to ensure that clubs operate within a framework that discourages illicit activities and fosters a clean, lawful environment in Portuguese football.

Read more from our source here.

4. Startup That Offered AI Solution to INEM Reaches an Impasse

Sword Health, a Portuguese startup, offered an AI-based automatic call handling solution to INEM, the national medical emergency institute, but faced significant challenges in implementing it. Virgílio Bento, the company’s founder, expressed frustration, stating that it is “impossible to integrate” their solution into INEM’s “obsolete” and “fragile” information system. Despite the company’s efforts, the system’s technological shortcomings and “pathological aversion to change” among technicians hindered progress, with Bento warning that these issues are exacerbating the challenges faced by emergency medical technicians.

In response, the Workers’ Commission at INEM rejected the company’s claims, insisting that INEM staff are not “incapable” and defending the need for an “update of IT resources” rather than an AI system that cannot address the nuances of human analysis. The commission emphasized the importance of hiring more human resources to improve response times, asserting that “no computer system can replace a healthcare professional.” They criticized Sword Health for proposing an “impossible” solution and shifting blame to INEM and its professionals.

Despite the challenges, Sword Health demonstrated its AI solution through a video showing how it could handle emergency calls. Virgílio Bento remains hopeful that the system might improve the emergency response if implemented, though he acknowledged that integration depends on INEM. The case highlights the tensions between a fast-moving private sector and a slower, more cautious public sector, with ongoing concerns over data privacy and the feasibility of introducing AI into sensitive public health operations.

Read more from our source here.

5. Pending Immigration and Asylum Cases Total 46,824

In 2024, the Lisbon Administrative Court ended the year with 46,824 pending immigration and asylum cases, a staggering 80 times more than in 2023, mainly due to the dissolution of SEF and the creation of AIMA. The report from the Lisbon and Islands Administrative and Fiscal Courts highlights the drastic increase in cases, with 54,222 new 6th Species cases filed, which are cases in Portuguese tax procedural law related to precautionary processes. Despite efforts to conclude 7,973 cases with a special team of judges, the surge in immigration and asylum cases has overwhelmed the system, contrasting with the general trend of decreasing pending cases in the area.

The report also suggests that had it not been for the AIMA cases, the number of pending cases would have been significantly lower, and existing resources could have been better utilized elsewhere. Note that the creation of AIMA and the centralization of asylum case processing in Lisbon made the Lisbon Administrative Court the sole court responsible for these cases. Antero Pires Salvador, president of the Administrative and Fiscal Courts of Lisbon, pointed out that the overwhelming demand for resources could otherwise be addressed more efficiently if not for the current situation.

As of December 31, 2024, the courts had 91 judges, 26 more than legally required, and 16 prosecutors, but 23 judicial officials were still missing. The increase in cases linked to AIMA has placed significant strain on the court system, and the report stresses the need for better allocation of resources to avoid further delays and improve the overall efficiency of the judicial response to immigration and asylum matters.

Read more from our source here.

6. Average Net Portuguese Salary Surges 10% – The Biggest Increase in a Decade

In 2024, Portugal’s average net salary saw a significant 9.6% rise, reaching 1,142 euros, marking the largest increase in a decade. This 100-euro increase was fueled by a historical 22% jump in the salaries of the Armed Forces, alongside solid gains for farmers and mid-level technicians. This wage surge is also linked to the strong rise in public sector wages, including for teachers, security forces, and healthcare workers, plus adjustments to the minimum wage. Compared to 2011, the net salary increase was 331 euros (41%), underscoring a steady upward trend in earnings over the past decade.

However, despite this positive wage growth, gender wage inequality has worsened. The gap between men and women widened to 206 euros, up from 178 euros in 2023. Men saw a generous 10.14% salary increase, while women’s wages rose by 9.1%. Key sectors like agriculture and skilled labor saw impressive wage growth as well, with farmers and technicians benefiting from raises of around 10%. However, the military sector stood out, with a 22% increase, largely driven by the rise in military condition allowances from 100 to 300 euros. Public sector agreements for salary increases further contributed to these gains, especially for public workers like teachers, police, and nurses.

While most professions experienced increases that outpaced inflation, disparities remain. Unskilled workers saw the smallest growth, with wages rising by just 6.1%, still below the gross minimum wage of 820 euros. Meanwhile, top executives and legislative representatives enjoyed significant raises of 123 euros, reaching an average salary of 1,886 euros. This highlights the growing wage gap, where the difference between the lowest (unskilled workers) and the highest-paid groups (top executives) reached 1,189 euros, reflecting an ongoing disparity in income distribution across professions.

Read more from our source here.

7. Minister of Economy Advocates for Iberian Alliance in Large-Scale Projects

Pedro Reis, Portugal’s Minister of Economy, called for a strengthened Iberian alliance, urging Spain to collaborate with Portugal on major strategic areas like green hydrogen, electric vehicle mobility, and renewable projects. Speaking at a lunch organized by the Luso-Spanish Chamber of Commerce and Industry in Porto, he emphasized the need for a focused action plan, pointing out that while not every project can be pursued, Portugal and Spain should prioritize key ones. He suggested that the two countries could jointly accelerate technological startup projects, develop data centers, and become leaders in Europe’s green transition and the electric vehicle sector, thus positioning themselves as key players on the global investment map. He emphasized that a coordinated approach between the two nations would make them formidable contenders in Europe’s economic landscape.

In light of current global instability and uncertainty over potential U.S. tariffs impacting international trade, Reis highlighted the opportunity for Portugal to capitalize on its growing appeal to foreign investors. He described Portugal as a “safe haven” for investment, citing its political stability and ongoing initiatives aimed at enhancing competitiveness and attracting capital. He argued that this “extreme volatility” in the global economy opens up a window for Portugal to enhance its economic position, particularly by aligning with Spain on major projects and foreign investment strategies. This collaboration, according to Reis, could help Portugal and Spain become more competitive and influential in the world economy, particularly in sectors like green hydrogen and technological innovation.

Read more from our source here.

8. Government Plans to Invest 52 Million Euros in Strengthening Fire Prevention and Combat

The Portuguese Government will allocate 52 million euros from the Recovery and Resilience Plan (PRR) to enhance rural fire prevention and promote territory resilience. Over 30 million euros will strengthen the intervention capacity of Forest Producer Organizations and Municipalities, funding the purchase of tractors and specialized equipment for fuel management. Additionally, 10.4 million euros will be invested in acquiring new vehicles, while 6.7 million euros will support intermunicipal communities with the purchase of heavy equipment. The funding will also back technical support for integrated landscape management projects through multidisciplinary teams, with more than 2.5 million euros in grants.

The renewal of motomanual equipment will receive a substantial 2.3 million euros to bolster firefighting efforts. The Ministry of Agriculture and Fisheries highlighted that these investments underscore the government’s commitment to protecting populations and territories from the rising fire risks linked to climate change. Note that this initiative reflects a broader strategy to strengthen resilience and safeguard both people and ecosystems in an increasingly volatile environment.

Read more from our source here.

9. Middle East: Portuguese Prime Minister Warns that the US Is an Ally and Rejects “Tainting Foreign Policy”

In the biweekly debate, Luís Montenegro condemned “any intervention, intent, or purpose of ethnic cleansing” in Gaza but rejected “hasty conclusions” from US President Donald Trump’s statements. Montenegro emphasized that Portugal would always support “international law, humanitarian law, and a path that could lead to the establishment of two states.” While responding to the Livre party’s challenge, Montenegro clarified that Portugal’s foreign policy would not be “tainted” by any extraneous statements from world leaders. The Prime Minister reaffirmed that the US is “unequivocally our ally.”

The leader of the Livre party, Isabel Mendes Lopes, urged Montenegro to directly condemn Trump’s remarks about taking control of Gaza and relocating Palestinians. She suggested a hypothetical scenario, questioning who would protect Portugal if the US were to violate its sovereignty, highlighting concerns over the potential consequences of not condemning foreign interference in international territories. Montenegro, however, maintained that some issues are better left unspoken and reiterated that Portugal’s stance would focus on dialogue and coordination with its allies.

Note that President Trump’s controversial comments on taking control of Gaza and sending US troops to aid reconstruction sparked international debate. He outlined his vision of a “long-term” US involvement, which raised concerns regarding US actions in the Middle East. Despite the contentious nature of his remarks, Montenegro underscored that Portugal’s role would remain aligned with international law, seeking diplomatic engagement rather than a confrontational approach, while ensuring the protection of Portugal’s interests.

Read more from our source here.

10. Passenger Traffic at Portuguese Airports Grew by 4.3% to Around 69.2 Million in 2024

In 2024, Portuguese airports saw a 4.3% increase in passenger traffic, reaching nearly 69.2 million, with over 35 million of those passengers traveling through Lisbon. The Vinci-owned ANA, the company responsible for the management of Portuguese airports, generated almost 1.3 billion euros in revenue, accounting for 28% of the total 4.526 billion euros in the airport segment. Note that ANA’s EBITDA was 865 million euros, representing 30% of the total airport segment earnings of 2.883 billion euros.

These figures highlight the growth in the airport sector, with ANA’s financial performance remaining strong, driven by increased passenger numbers. The overall performance of Vinci’s airports in Portugal reflects the company’s continued success in managing the country’s major airports. The steady rise in passenger traffic is seen as a key indicator of recovery and growth in Portugal’s aviation sector.

On a strategic level, the government has instructed ANA to move forward with the bid for the new Alcochete airport, a project that aligns with ANA’s report, which outlines no direct contribution from the State Budget. This follows the approval of the Luís de Camões Airport plan, which also adheres to the government’s strategy. ANA, which was sold to the French Vinci Group for around three billion euros in 2012, remains integral to Portugal’s airport management and development.

Read more from our source here.

Prince Karim Al-Hussaini, known as Aga Khan IV, was a unique figure in the modern world—a spiritual leader, philanthropist, and businessman whose influence extended far beyond the Ismaili Muslim community. For nearly seven decades, he led millions of followers across the globe and made a profound impact on education, healthcare, and cultural preservation. His passing on February 4, 2025, in Lisbon, Portugal, marks the end of an era, but his legacy continues through the institutions he built and the lives he transformed.

Who Was the Aga Khan IV?

Prince Karim Al-Hussaini, known as Aga Khan IV, was born on December 13, 1936, in Geneva, Switzerland. He was the 49th hereditary Imam of the Shia Ismaili Muslims, a position he held from 1957 until his passing in 2025. He inherited the title at the age of 20 from his grandfather, Aga Khan III, who bypassed his own son in favor of his grandson, believing that a younger leader was needed for the modern era.

A Harvard-educated leader, the Aga Khan was widely regarded as a bridge between Islamic traditions and modern development. He believed in the role of the Imam as both a spiritual and worldly guide, ensuring the well-being of his followers through charitable works, economic initiatives, and global development efforts. Unlike other hereditary leaders, he did not rule over a specific territory but led a global community of approximately 15 million Ismaili Muslims spread across 35 countries.

The Aga Khan was also an entrepreneur, known for his interests in horse breeding, luxury tourism, and media. Despite his immense wealth—estimated to be between $1 billion and $13 billion—he dedicated much of his fortune to philanthropy. His philosophy was that prosperity and faith were not in conflict; rather, his success in business allowed him to better serve his followers and humanity as a whole.

Legacy

The Aga Khan IV’s legacy is deeply tied to the Aga Khan Development Network (AKDN), which he founded and chaired. AKDN is one of the largest private development organizations in the world, operating in over 30 countries. It focuses on improving education, healthcare, cultural preservation, and economic development, particularly in impoverished regions of Africa, Central Asia, and South Asia.

Some of his notable contributions include:

• Education – Establishing the Aga Khan University (AKU) in Karachi and other educational institutions, including the University of Central Asia and a network of Aga Khan Academies.
• Healthcare – Funding hospitals, medical research, and rural health programs in developing countries.
• Architecture and Culture – The Aga Khan Award for Architecture, one of the most prestigious awards in the field, and the restoration of historic sites such as Humayun’s Tomb in India and Al-Azhar Park in Cairo.
• Economic Development – Investing in infrastructure projects, such as hydroelectric power in Uganda and telecommunications in Tajikistan, as well as founding Nation Media Group, the largest independent media organization in East Africa.

Beyond his work in development, he played a key role in aiding Ismaili communities facing crises. Notably, during the 1972 expulsion of Asians from Uganda under Idi Amin, he personally convinced Canadian Prime Minister Pierre Trudeau to accept thousands of displaced Ismailis. His ability to blend diplomacy with social impact made him a respected figure worldwide.

Move to Lisbon

In 2015, the Aga Khan made a significant decision to relocate the Ismaili Imamate’s Secretariat to Lisbon, Portugal. This move was symbolic and strategic and strengthened ties between the Ismaili community and Portugal. It also marked the first time that the Imamate had an official, internationally recognized seat.

As part of this transition, he purchased the historic Palacete Mendonça, a grand mansion near Parque Eduardo VII in Lisbon across from El Corte Inglés Department Store. This estate became the global headquarters for Ismaili leadership and the Aga Khan Development Network. The Portuguese government welcomed the move and granted the Aga Khan official Portuguese citizenship, recognizing the Imamate as a supranational entity.

This decision was influenced by several factors, including Portugal’s stable political environment, its historical connections with diverse cultures, and its willingness to accommodate the Ismaili community. The move was also seen as a way to ensure that Ismaili institutions could operate freely in a Western setting.

Death and Succession

Aga Khan IV passed away on February 4, 2025, in Lisbon, at the age of 88, surrounded by his family. His death was announced by the Aga Khan Development Network, though no specific cause was given. His passing marked the end of an era for the Ismaili community, which had seen significant growth and modernization under his leadership.

According to his will, his eldest son, Prince Rahim Al-Hussaini, has been appointed as his successor, now known as Aga Khan V. Prince Rahim has been deeply involved in AKDN, particularly focusing on environmental sustainability and climate change initiatives.

A funeral service is scheduled to take place at the Ismaili Centre in Lisbon, with dignitaries and world leaders expected to attend. Following the ceremony, Aga Khan IV will be laid to rest in Aswan, Egypt, in a private burial.

His death has been met with global tributes, including condolences from King Charles III, UN Secretary-General António Guterres, Canadian Prime Minister Justin Trudeau, and various leaders from the Muslim world. Many have hailed him as a visionary humanitarian, a champion of education and healthcare, and a leader who dedicated his life to improving the well-being of others.

Final Thoughts

Aga Khan IV’s life was one of service, vision, and transformation. His leadership extended beyond religious guidance, touching the lives of millions through education, health, economic empowerment, and cultural preservation. His decision to relocate to Lisbon and establish a permanent base for the Ismaili Imamate was a testament to his forward-thinking approach to governance and faith.

His successor, Aga Khan V, now carries the responsibility of continuing this legacy of development, inclusivity, and humanitarianism, with the hope of ensuring that the institutions built by his father remain a force for good in the world.

1. New York Metropolitan Museum of Art Buys Four Portuguese Pieces

The São Roque Gallery in Lisbon sold four Portuguese pieces, produced between the 16th and 17th centuries, to the Metropolitan Museum of Art (MET) in New York. The collection now part of the MET includes a Portuguese-Cingalese chest made of ivory, a jewelry box from Ceylon, a mother-of-pearl chest featuring a painting of a Portuguese couple, and a desk with a hunting scene and a verse by Camões. These acquisitions reflect the museum’s growing collection, with the pieces connected to the era of Portuguese expansion.

Mário Roque, owner of São Roque Gallery, highlights the significance of seeing these works, once kept by collectors, return to the public eye. He emphasizes that the true impact comes when such pieces find a place in international museums, becoming ambassadors of Portuguese art, still largely unknown beyond Portugal’s borders. The gallery embraces this mission to spread and honor the richness of Portuguese art and history on the global stage, contributing to its recognition worldwide.

In addition, São Roque Gallery will participate in The Winter Show, an art, antiques, and design fair in New York, from January 24 to February 2, 2025. This prestigious event, featuring over 70 international exhibitors, offers a platform for the gallery to continue its efforts to promote and elevate Portuguese culture, showcasing its rich artistic heritage to a broader audience.

Read more from our source here.

2. Portuguese Company Critical Software Expands to Boston

Critical Software, a Portuguese tech company, has opened a new office in Boston, located “right next to MIT” and major companies like Johnson & Johnson. This expansion follows years of business dealings in the U.S., aiming to leverage the local ecosystem and a “huge talent base” in the medical devices and life sciences sectors, which are the company’s current focus. The company also plans to develop its presence in space and aerospace, tapping into markets with significant potential.

Luís Gargaté, director of the medical devices division, highlights that the company’s U.S. expansion is driven by the opportunity to add value for American clients, just as it does in Europe. The dynamic U.S. market presents an appealing environment, and Critical Software aims to hire new professionals for business development. Gargaté also discusses the possibility of forming partnerships with local universities, like MIT and Harvard, to access knowledge not available in Portugal.

The company is also exploring mergers and acquisitions (M&A) to accelerate growth and gain access to more U.S. market share. Additionally, Critical Software is eyeing future expansion in the space sector, focusing on synergies between its European expertise and the growing U.S. market. With the U.S. government’s renewed interest in space, Critical Software sees an opportunity to participate in the commercial space race, though Mars itself is not a focus for now.

Read more from our source here.

3. Portuguese President Intends to Schedule Presidential Elections for January 25, 2026

Marcelo Rebelo de Sousa announced his intention to schedule the 2026 presidential elections for January 25, with a possible second round on February 15, 2026. He highlighted that these elections will be “a very intense moment” due to the “number of candidates” and remarked that he cannot recall a campaign “that started so early.” He emphasized that it would be a time of “great debate, great reflection” for the Portuguese, with “plenty of time to choose” and to consider issues regarding the world, Europe, and Portugal.

In line with the Electoral Law, the first round will take place at least 60 days before the outgoing President’s term ends. If no candidate wins more than half of the valid votes, a second round will be held on February 15, between the two most-voted candidates. The candidacy window will close by December 26, with the official campaign running from January 11 to 23. The legal framework ensures that the first and second rounds are held “within 60 days” before the term ends on March 9, 2026, offering a structure to the process.

Previous presidential elections in Portugal have mostly taken place in January, with the exception of the first two after the 1974 revolution, which had special deadlines. The 1986 election was the only one to feature a second round, and all subsequent elections have been held in January, except for the one planned for 2026. The law ensures the elections occur within a timeframe that respects the President’s outgoing term, which will conclude on March 9, 2026.

Read more from our source here.

4. Presidential Election Poll: Gouveia e Melo and Ventura May Face Off in a Second Round

Admiral Henrique Gouveia e Melo leads the voting intentions for the 2026 presidential elections, with 25% of support, but will likely face a second round against André Ventura, who follows in second place with 16%. The poll, conducted by ICS/ISCTE for the newspaper Expresso and the news channel SIC, shows that while Gouveia e Melo is ahead, his support is not enough for a first-round victory. With 15% of respondents still undecided, figures like António José Seguro (15%), António Vitorino (14%), and Marques Mendes (13%) follow behind.

Gouveia e Melo’s voter base is quite homogeneous, favored by men and elderly voters, and he has strong support across different education levels, income brackets, and political ideologies. He is especially strong among those without party preference, who make up the most undecided group. The Admiral also captures a substantial portion of PSD and PS voters (35% and 30%) but is less supported among Chega voters (12%).

The poll results reveal that Chega’s electorate is more loyal to Ventura, with 85% support, compared to PSD and PS supporters, who are less unified behind their potential candidates. While Gouveia e Melo’s support is broad, the competition remains close, and with multiple candidates in the race, a second-round election, which, as mentioned above, only happened once, is expected to be highly contested.

Read more from our source here.

5. Lisbon City Council Launches Employment Platform for Immigrants

Lisbon’s City Council is launching an online platform during the first quarter of 2025 that aims to integrate immigrants into the labor market in a dignified and structured way. The initiative will match the skills of immigrants with the needs of companies in Lisbon, promoting better and more jobs for those wanting to work in the city. According to Carlos Moedas, the Mayor of Lisbon, this project shows how Lisbon is at the forefront of modern, responsible, and future-oriented immigration policy.

The platform aims to respond to both the difficulties of immigrant integration and the labor shortage in Lisbon, connecting immigrants without jobs to companies in need of workers. Moedas stresses that Lisbon needs immigration, but it must be oriented to the labor market to create better job opportunities. He highlights the importance of bridging skills and company needs, ensuring that immigrants are able to find employment.

Building on the existing Lisbon Employment Map, which already includes over 6,000 job opportunities and nearly 2,000 training offers, the platform will be restructured to meet the demands of the national market. Note that the initiative will also form partnerships with associations that focus on the integration of immigrants and refugees through employability, ensuring access to tailored training for market needs. This is a critical step that hopes to solidify Lisbon’s role as a leader in immigration policy in Europe.

Read more from our source here.

6. Central Portugal Sets a New Tourism Record in 2024 

Preliminary results for tourism activity in 2024, released today by the National Institute of Statistics (INE), confirm that Central Portugal is experiencing significant growth. The region set records in all indicators, solidifying itself as one of the most dynamic tourist destinations in the country.

According to Central Portugal, “for the first time, it surpassed the 8 million overnight stays mark in tourist accommodations, registering a total of 8,377,732 from January to December 2024. This figure represents a significant increase of 5.5% compared to the 7,942,254 overnight stays in 2023, which had already been a historic year for the region. It is important to highlight that this growth exceeds the national average, which was 4.0%.”

For Anabela Freitas, vice president of Turismo Centro de Portugal, these results reflect the strengthening of the region as a leading destination: “The data now revealed confirm that the brand and the destination Central Portugal are increasingly consolidated in the national tourism landscape. “For the first time, the region surpassed the 8 million overnight stays mark, approaching 8.5 million, and will exceed the 500 million euros revenue barrier. This significant growth shows that our region can, year after year, continue to attract visitors at a pace above the national average and retain those who choose us,” she added.

Read more from our source here.

7. Portuguese Economy Grows 1.9% in 2024, Exceeding Government’s Target

The Portuguese economy grew by 1.9% in 2024, slightly exceeding the government’s target of 1.8% and the expectations of economists. According to the National Statistics Institute (INE), the growth accelerated in the fourth quarter, reaching 2.7% year-on-year and 1.5% quarter-on-quarter. This performance, slightly above the Ministry of Finance’s forecast, was also in line with the International Monetary Fund’s (IMF) projection.

Domestic demand played a significant role in the growth, with “the acceleration of final consumption expenditure,” while investment slowed. On the other hand, net external demand made a negative contribution, as imports of goods and services increased at a higher rate than exports. Despite this, private consumption and the reduction in investment led to a stronger performance in the final quarter, surpassing economists’ expectations.

On the social media platform X, Prime Minister Luís Montenegro emphasized that “the financial stability we have consolidated, the political stability we have achieved, and the trust we hold are the conditions to drive a virtuous cycle of investment and wealth creation.” Note that the year-on-year growth accelerated in the final quarter, with a positive contribution from domestic demand, despite a decrease in investment. Additionally, imports of goods and services dropped, leading to a positive contribution from net external demand after two consecutive negative quarters.

Read more from our source here.

8. Bank of Portugal and Portuguese Court of Auditors Leave X

The Bank of Portugal announced it will “discontinue” its publications on X, keeping the account “as an archive” while remaining active on LinkedIn, Instagram, and YouTube. In addition, the Bank has joined Bluesky, a competitor to X, stating “new platform, new connections” and signaling the shift towards “staying closer” to the public. Moreover, the Portuguese Court of Auditors also revealed its decision to abandon both X and Facebook, citing “violations of national and European Union laws,” particularly related to data protection and consumer rights, marking a significant step in rejecting platforms that fail to comply with regulations.

According to the Court, X’s end of content verification and the proliferation of misinformation led to an environment where “discriminatory content” was being legitimized, directly violating EU laws. This decision reflects a broader dissatisfaction with platforms that “disregard the European Union legal framework,” resulting in a shift to official channels for communication. The move further signals a growing concern over platforms that facilitate “hate speech” and “misinformation,” prompting institutions to reconsider their digital strategies.

It is important to consider that the trend of leaving X extends beyond institutions, with user deactivations also spiking. Following the U.S. elections, over 280,000 accounts were deactivated globally, with 115,000 of those in the U.S. alone. The increase in departures from X is benefiting competitors like Threads, which reported a significant “growth in users,” rising by 35 million in a short span, highlighting a shift towards more preferred platforms amidst the growing dissatisfaction with Musk’s.

Read more from our source here.

9. Some Portuguese Figures Think Trump Might Have Been The Best Thing That Could Have Happened to Europe

Pedro Santa Clara, founder of School 42, believes Donald Trump “is the best thing that could have happened to Europe,” highlighting Europe’s decline over the past 25 years, losing its technological edge. He emphasizes that Trump’s policies will boost U.S. competitiveness, while Europe, lacking competition, has become “a kind of museum.” The continent needs a “wake-up call,” as it struggles to maintain its economic position.

António Nogueira Leite, president of MAPFRE, echoes Santa Clara’s view, pointing out Europe’s “arrogance” and comparing it to the “greater democratization” of the U.S. He underscores Europe’s growth problem and its inability to attract and create value in various sectors, particularly in business.

Cristina Fonseca, general partner at Indico Capital Partners, adds that Europe’s approach to creating large companies, especially in technology, is ineffective. She notes that the continent discusses problems but fails to invest enough to increase its competitiveness, leaving it behind in global value creation. Maybe this new context can change that.

Read more from our source here.

10. Revolut And Its Goal of Opening a Branch in Portugal

Revolut maintains its goal of opening a branch in Portugal and obtaining a national IBAN, aiming for two million users by the end of the year. The project, initially announced last year, has experienced slight delays but is on track for 2025. The company also plans to launch a deposit account with a Portuguese IBAN after the branch is operational. With the goal of becoming customers’ “main account,” Revolut intends to expand beyond its travel segment into areas like mortgage lending, beginning in Lithuania and potentially moving to Ireland.

The company has already launched personal credit and aims to introduce credit cards this year. Revolut’s expansion strategy includes targeting more mature markets before moving to other countries like Portugal. Despite its growth, which saw a rise to 1.6 million customers in Portugal, the company aims to reach two million users in the near future. Revolut continues to hire, employing 1,300 people in Portugal and around 10,000 globally, highlighting the Portuguese market as an attractive hub for talent.

Rúben Germano, General Director of Revolut in Portugal, emphasized that the rising competition in Portugal’s fintech sector benefits everyone, pushing companies to be quicker and more demanding. As Revolut moves closer to traditional banking, it focuses on being direct competition for established banks, without plans to open physical branches. Instead, the company is testing ATM machines in Spain and has installed card vending machines at Porto Airport as part of its strategy to expand services.

Read more from our source here.