Dear Blanca,
Amidst visiting ancient castles in Coimbra, I find myself wondering if Portugal is in financial crisis. Is that bewildering for a visiting tourist? Is it possible to have fun and still have to worry about the economy?
From Dancing Daisy.
Dear Dancing Daisy,
No, you don’t need to be worried about the economy when visiting Portugal. Despite current economic challenges, visitors to this amazing country can still have an enjoyable and exciting vacation. To understand Portugal’s financial situation, let’s examine some of the factors that have contributed to the current crisis:
-High Levels of Public Debt: Portugal has been dealing with a significant slump in economic activity compounded with a high public debt, making the cost of living higher and job opportutnities lower.
-Overreliance on the Financial Sector: The Portuguese economy has also been overly reliant on its financial sector, reducing access to certain services.
Luckily, there is a light at the end of the tunnel. Portugal is emerging from the economic downturn, and recent indicators suggest that the country is on the right track. Recently, Portugal has seen an uptick in economic growth and foreign tourism, setting the country up for potentially strong recovery in 2018.
As a fellow Portuguese who is living in Lisbon with my lovely dog Santino, I have experienced the effects of the financial crisis first-hand. It is my hope that Portugal will be able to turn its economic crisis around soon, ensuring that all of us here can continue to live, work, and enjoy all that our beautiful country has to offer.
Warmly,
Blanca Valbuena