6 reasons why Portugal could emerge stronger from the coronavirus crisis
The health crisis linked to the coronavirus epidemic has not spared Portugal, which is embarking on a second state of emergency. Nevertheless, the predicted disaster seems to have been avoided and Portugal is doing quite well compared to its neighbor Spain. As the lightened state of emergency returns and travel is limited, Portugal begins to prepare for 2021 and the revival of its economy. Even though the months ahead look tough, Portugal could do well in the long term and emerge stronger from the crisis. Of course, the article dwells on the potentially positive aspects and overlooks the immense challenges Portugal will face. Lisbob, the expatriate assistant in Portugal, gives you 6 reasons why Portugal might emerge stronger from the coronavirus crisis.
6 reasons why Portugal could emerge stronger from the coronavirus crisis
Agriculture
Portugal is a country with great agriculture and a climate conducive to a wide variety of fruits and vegetables: pears, cherries, apples, grapes, bananas (Madeira), tomatoes and even rice. Even though organic is not a widespread norm, Portuguese agriculture is very healthy and has nothing to do with intensive farming: there is still a lot to be developed in this sector. Precisely, the coronavirus crisis could force some countries to supply more locally, and this would allow Portugal to develop its agriculture while maintaining the quality of its operations.
Paper
This has not escaped you, a good part of the world population was afraid of running out of toilet paper at the start of confinement. This excessive demand has created a temporary shortage on these products. Portugal will never be in shortage of toilet paper and paper towel: it produces enormous quantities of paper of all kinds and the company Renova and one of the world leaders. The coronavirus crisis will surely encourage European buyers to source more locally and Portugal is well positioned to take advantage of this new situation.
Green tourism
The coronavirus crisis is also changing awareness on several points, including the impact of humans on the planet. Mass tourism will be hard to recover for a long time, and long trips to the other side of the world will be less and less popular. It's local time for green tourism, and Portugal is already far ahead of it. Indeed, Portugal had been voted European green destination, and the variety of green destinations inside Portugal make it a favorite in green and eco-responsible tourism.
Textile
Portugal is renowned for its textile industry, which is both qualified and fairly inexpensive. However, Made in Portugal is struggling to sell internationally despite the quality of its products. However, the coronavirus epidemic has had the positive that it has shown Portuguese responsiveness and engineering in the creation of masks in particular. Millions of Portuguese residents have already received their masks in their mailboxes. The coronavirus crisis, as with paper, will force buyers to source locally rather than halfway around the world, and the Portuguese textile industry is just waiting for that to finally become obvious.
Real estate
Before the coronavirus crisis, soaring real estate prices in Portugal had peaked and never seen before. This covid-19 epidemic will nevertheless put a brake on mass tourism, if only temporarily, and will encourage many owners to turn to long-term rental. This will benefit residents who will find it easier to find accommodation and also city centers which will recover local shops. Even if a property crash seems excluded, a slight price correction can be considered.
Resistance
In a country which experienced and freed itself from the dictatorship of Salazar until the 1970s, which defeated the Napoleonic troops and which survived the earthquake of 1755, the coronavirus is only a passing obstacle with the more than millennial history of Portugal.
Rounding up, being patient and helping each other, the Portuguese know how to do it and they are resistant people. There is no doubt that Portugal will have a bad time like they have had many worse times.