2020 started with a global epidemiological crisis that swarmed the world quickly and brought everything to a halt. The cause of the crisis is a form of coronavirus named Covid19 that officially caused a pandemic. Unsurprisingly, every sector imaginable has been affected by this crisis. Public transportation stopped, air travel is cancelled, business activities are localized and isolated in home offices. Long story short, Covid19 has pushed the world into a new normality where the financial dynamics are very different. It is safe to assume that there will be a lot of differences in terms of transactions and investments after this novel coronavirus is successfully controlled.
What to do and where to go after Covid19 crisis are the questions that boggle investors’ mind nowadays. Now that it is proven once more that assets and properties that are not diversified are not safe at any time, one thing to expect is that investors will try and diversify their assets. The best and most popular way to do this is through overseas investments which leads to the second question: Where?
According to Forbes’ article, Portugal, and especially the Algarve region is the best place above two other great options (Mexico and Belize) to invest and retire in after Covid19 crisis is alleviated. There are many reasons for this. Forbes lists these reasons as follows: amazing climate, safety, great infrastructure, high quality health care, language advantages, golf courses, world-class beaches, low cost of living, healthy living conditions, and retiree perks.
All these great qualities are exemplary and all of them are fair reasons as to why Portugal and specifically Algarve is a great option after Covid19. However, one crucial addition is Portugal’s ways of dealing with the on-going crisis. No country on Earth will avoid this crisis without a scratch, and Portugal is no exception in this. The Iberian country has suffered a fair share of financial setback due to Covid19. Yet, the methods they use to cope with the problem are highly credited by other nations. For instance, the government recently announced that all the migrants will be granted a temporary citizenship until 1st of July to be able to benefit from the country’s highly efficient healthcare system freely. The country enjoys a mood of solidarity in these times of hardship, and it does a great job at tackling the problem with well-thought out measures.