Over the past few months, we have seen the number of US expats moving to Portugal increase steadily, but data also reveals that more and more Americans are willing to make the transatlantic journey for short-term holidays and trips as well as for relocation purposes.
This uptake in US tourist numbers seems to be in part due to the Covid-19 pandemic, as numbers of visitors before the outbreak of the virus were considerably lower than the data we are seeing now.
The National Statistics Institute (INE) has revealed that the number of tourists from the North American region, who usually account for 8.4% of overnight stays from non-residents, increased by 27.3% in June when compared to the same time period in 2019.
This increase was seen in all regions across Portugal, but was particularly apparent in the popular tourist destinations of the Algarve, Lisbon and Madeira.
The data also revealed an increase in Czech, Romanian and Danish tourists when compared to 2019.
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This communication is for informational purposes only, based on our understanding of current legislation and practices which is subject to change and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.
This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.
Rapid developments in IT systems, financial databases and data-sharing platforms over recent years now mean that it is easier than ever for nation states to share and exchange financial information relating to the investments, income, taxes, savings accounts, properties and pensions of individuals who have assets placed in multiple locations across the world.
What would you look for when choosing a destination to move to abroad? A sea-side location with warm weather all year round, lots of culture and opportunity for adventure, perhaps? Or a place with a great economy and plenty of career prospects?