2020 was dominated by a global epidemiological crisis that swarmed the world quickly and brought everything to a halt. Unsurprisingly, every sector imaginable has been affected by this Covid19. Public transportation stopped, air travel got canceled, business activities are localized and isolated into home offices. Long story short, Covid-19 has pushed the world into a “new normal” 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. 2021 arrives with lots of hope along with it.
Let’s dream a little. What to do and where to go once the Covid-19 pandemic is over in 2021? Now that it is proven once again that tangible diversification is the only way to protect your investments, one thing to expect is that investors will try and find different assets and equity types. The best and most popular way to do this is through overseas investments which leads to the second question: Where?
Portugal is quite a hot destination, in all senses of the words these days. Many investors plan to invest and to retire in Portugal, leading to investments being pursued in the country. This moves the Portugal real estate market to appreciate and hike towards the level it deserves to anchor at.
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 the Covid-19 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 setbacks 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 the 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 of tackling the problem with well-thought-out measures.