Thursday , August 11 2022

Tourism is good only if it is "good for locals and for residents"


Tourism and real estate investments have transformed the country in recent decades and have been determinants in capturing foreign investment and rehabilitating cities and qualifying the offer. However, a balance has to be found to ensure that tourism also benefits tenants, especially in large cities such as Lisbon.

These were some conclusions of the first debate plan of the Portugal conference in Ekameu, "Tourism and Real Estate, a Virtual Marriage?", Held on Tuesday, November 13, at EDP Auditorium Hall in Lisbon.

Real estate investment was "extraordinary" and created in the capital city a city "more qualified for those who live, work and visit", defended Carlos Abade. But, said the administrator Turismo de Portugal, increasing the quality of cities and tourism is good only if it is "good for locals and residents", at a time when the impact of such phenomena as the local accommodation has the availability of housing offers and prices real estate.

"Why should a historical quality center be cheap?" Asked Jose Rookette. The administrator responsible for the development of the Pestana group claimed that, in the case of capital, people were not evicted from the historic zones for tourism: "Nobody wanted to live in Baiki," said Mafalda Anjos, Director of VISION and the Trust in the News

The problem of housing is not for Carlos Abade, there is more tourism, but less capacity to stay, a question that, as he claims, must be solved by tax conditions that lead the investor to choose to lease the property and the other end. He also argued that changes in the local housing law would allow municipalities to act in overload situations.

With an investment of over 50 million euros in the purchase and overlapping of twenty real estate properties in the Principe Real area in Lisbon, Eastbanc Portugal is one of the most effective real estate betting markets for creating new tourist centers in major cities. In this case, as described by the group's executive director, the goal was to develop a Portuguese product that attracted Portuguese, not so expensive and with the concepts of international niche.

"There were no neighborhoods specializing in the Portuguese product," said Katarina Lopes, emphasizing the "democratization" of the area in the city. "So, the resident is the one who sleeps, like those who work in the neighborhood, who sometimes do more for the authenticity of the neighborhood than those who live there," he dismissed, acknowledging that it is currently "very expensive" to buy more capacities in Principal Reale and that the company is now working to revitalize trade in the Cascais area.

Andre Jordan, president of the group Andre Jordan, which is associated with symbolic projects like Kuinta do Lago or Vilamoura in Algarve, says that a high-quality shopping center for Portuguese products is missing. "At Avenida da Liberdade, all stores are foreign, this is a false export, money is coming out of the country," he said.

A historic businessman has highlighted the way the country has done in recent decades in the real estate and tourism sector. "I do not know any part of the world except for the one that is fueled by oil money that has so developed with Portugal in the last 40 years," he said, attributing the "secret" to tourism and real estate in the Portuguese style.

Nevertheless, he believes that, despite the evolution, the real estate sector in Portugal is still very small and that the visas for gold allocated for this purpose – more than six thousand in six years, with a combined investment of more than 3,500 million euros – are nothing , do not have an economic expression. "She considered it crucial to attract capital to Portugal and lead foreign companies in the country.

Investments that could contribute to further strengthening the economic weight of tourism in the country, where it is responsible for more than 300 thousand jobs and which last year provided a positive balance of 11 billion euros in tourism. "If this is not for tourism, we are likely to talk about a 1% drop in GDP, and not grow from 2.6%," said Carlos Abade.

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