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==Economy== <!-- If you want to expand this section, please instead add new info into the main article: "Economy of Portugal", your work there will be appreciated. --> {{Main|Economy of Portugal}} [[File:Parque das Nações 31.jpg|thumb|[[Vasco da Gama Tower]] in [[Parque das Nações]] with the [[Vasco da Gama Bridge]], the longest bridge in the [[European Union|EU]], in [[Lisbon]]]] Portugal is a [[developed country|developed]] and [[high income countries|high-income country]]<ref>{{cite web |date=8 April 2014 |title=World Economic Outlook April 2014 - Recovery Strengthens, Remains Uneven |url=http://www.imf.org/external/pubs/ft/weo/2014/01/pdf/text.pdf |url-status=dead |archive-url=https://web.archive.org/web/20140408225045/http://www.imf.org/external/pubs/ft/weo/2014/01/pdf/text.pdf |archive-date=8 April 2014 |access-date=20 April 2021 |publisher=[[International Monetary Fund]]}}</ref><ref>{{cite web |title=SOCIAL PROGRESS INDEX 2015 : EXECUTIVE SUMMARY |url=https://www2.deloitte.com/content/dam/Deloitte/au/Documents/public-sector/deloitte-au-ps-social-progress-index-executive-summary-2015-90415.pdf |access-date=2 August 2017 |publisher=Deloitte |archive-date=23 July 2015 |archive-url=https://web.archive.org/web/20150723035217/https://www2.deloitte.com/content/dam/Deloitte/au/Documents/public-sector/deloitte-au-ps-social-progress-index-executive-summary-2015-90415.pdf |url-status=live }}</ref><ref name="Quality">{{cite web |title=Quality of Life Index by Country 2020 Mid-Year |url=https://www.numbeo.com/quality-of-life/rankings_by_country.jsp |website=numbeo.com |access-date=10 December 2019 |archive-date=23 January 2018 |archive-url=https://web.archive.org/web/20180123014301/https://www.numbeo.com/quality-of-life/rankings_by_country.jsp |url-status=live }}</ref> with a GDP per capita of 82% of the EU27 average in 2024,<ref>{{cite web|url=https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Purchasing_power_parities_and_GDP_per_capita_-_preliminary_estimate|title=Purchasing power parities and GDP per capita - preliminary estimate|publisher=[[Eurostat]]|website=ec.europa.eu|date=27 March 2025|access-date=22 April 2025}}</ref> and a [[List of countries by Human Development Index|HDI]] of 0.874 (the 42nd highest in the world) in 2022.<ref>{{Cite web |publisher=United Nations |title=Country Insights |url=https://hdr.undp.org/data-center/country-insights |language=en |access-date=9 December 2022 |archive-date=12 July 2022 |archive-url=https://web.archive.org/web/20220712063231/https://hdr.undp.org/data-center/country-insights |url-status=live }}</ref><ref>{{cite news |url=https://www.nytimes.com/2007/07/01/world/europe/01iht-portugal.4.6436125.html |title=Portugal, taking EU reins, has a fight on its hands |last=Bilefsky |first=Dan |date=1 July 2007 |newspaper=The New York Times |access-date=30 August 2018 |archive-date=6 May 2020 |archive-url=https://web.archive.org/web/20200506192917/https://www.nytimes.com/2007/07/01/world/europe/01iht-portugal.4.6436125.html |url-status=live }}</ref> It holds the [[Gold reserve|13th largest gold reserve in the world]] at its [[Bank of Portugal|national central bank]],<ref>{{Cite web|url=https://www.gold.org/goldhub/data/gold-reserves-by-country|title=Gold Reserves by Country 2021|date=5 December 2023|publisher=World Gold Council|access-date=20 October 2022|archive-date=20 October 2022|archive-url=https://web.archive.org/web/20221020175325/https://www.gold.org/goldhub/data/gold-reserves-by-country|url-status=live}}</ref> has the 8th largest proven reserves of [[lithium]],<ref>{{Cite web|url=https://investingnews.com/daily/resource-investing/battery-metals-investing/lithium-investing/lithium-reserves-country/|title=Lithium Reserves: Top 4 Countries|website=investingnews.com|access-date=20 October 2022|archive-date=20 October 2022|archive-url=https://web.archive.org/web/20221020151212/https://investingnews.com/daily/resource-investing/battery-metals-investing/lithium-investing/lithium-reserves-country/|url-status=live}}</ref><ref>{{Cite web |url=https://www.volkswagenag.com/en/news/stories/2020/03/lithium-mining-what-you-should-know-about-the-contentious-issue.html |title=Lithium mining: What you should know about the contentious issue|access-date=20 October 2022 |archive-date=1 December 2020 |archive-url=https://web.archive.org/web/20201201000543/https://www.volkswagenag.com/en/news/stories/2020/03/lithium-mining-what-you-should-know-about-the-contentious-issue.html |url-status=dead }}</ref><ref>{{Cite web|url=https://pubs.usgs.gov/periodicals/mcs2022/mcs2022-lithium.pdf|title=Mineral Commodity Summaries 2022 - Lithium, Brian W. Jaskula, U.S. Geological Survey, Mineral Commodity Summaries, January 2022|access-date=20 October 2022|archive-date=8 October 2022|archive-url=https://web.archive.org/web/20221008151841/https://pubs.usgs.gov/periodicals/mcs2022/mcs2022-lithium.pdf|url-status=live}}</ref> with total exports representing 46.6% of its GDP in 2024.<ref>{{Cite web|url=https://www.nowcanal.pt/ultimas/detalhe/peso-das-exportacoes-no-pib-cai-pelo-segundo-ano-consecutivo|title=Peso das exportações no PIB cai pelo segundo ano consecutivo |website=www.nowcanal.pt|date=3 March 2025|access-date=22 April 2025}}</ref> Portugal has been a net beneficiary of the [[Budget of the European Union|European Union budget]] since it joined the union, then known as [[European Economic Community|EEC]], in 1986.<ref>{{Cite web |last=Ross |first=Jenna |date=20 September 2019 |title=Which Countries Are the Biggest Boost or Drag on the EU Budget? |url=https://www.visualcapitalist.com/which-countries-are-the-biggest-boost-or-drag-on-the-eu-budget/ |access-date=14 June 2023 |website=Visual Capitalist |language=en-US |archive-date=21 June 2023 |archive-url=https://web.archive.org/web/20230621121305/https://www.visualcapitalist.com/which-countries-are-the-biggest-boost-or-drag-on-the-eu-budget/ |url-status=live }}</ref><ref>{{Cite web |title=Contribuições líquidas anuais por habitante para o Orçamento da União Europeia — Instituto +Liberdade |url=https://maisliberdade.pt/maisfactos/contribuicoes-liquidas-por-habitante-para-o-orcamento-da-uniao-europeia/ |access-date=14 June 2023 |website=Mais Liberdade |language=pt |archive-date=21 June 2023 |archive-url=https://web.archive.org/web/20230621121306/https://maisliberdade.pt/maisfactos/contribuicoes-liquidas-por-habitante-para-o-orcamento-da-uniao-europeia/ |url-status=live }}</ref><ref>{{Cite news |date=27 May 2019 |title=EU budget: Who pays most in and who gets most back? |language=en-GB |publisher=BBC News |url=https://www.bbc.com/news/uk-politics-48256318 |access-date=14 June 2023 |archive-date=21 June 2023 |archive-url=https://web.archive.org/web/20230621121304/https://www.bbc.com/news/uk-politics-48256318 |url-status=live }}</ref><ref>{{Cite journal |last1=Berthold |first1=Busch |last2=Björn |first2=Kauder |last3=Samina |first3=Sultan |date=2 November 2022 |title=Net contributors and net recipients in the EU |url=https://www.iwkoeln.de/en/studies/berthold-busch-bjoern-kauder-samina-sultan-net-contributors-and-net-recipients-in-the-eu.html |journal=Busch IW-Report |language=en-US |issue=55 |access-date=14 June 2023 |archive-date=21 June 2023 |archive-url=https://web.archive.org/web/20230621121307/https://www.iwkoeln.de/en/studies/berthold-busch-bjoern-kauder-samina-sultan-net-contributors-and-net-recipients-in-the-eu.html |url-status=live }}</ref> By the end of 2023, GDP (PPP) was $47,331 per capita, according to the [[World Bank]].<ref>{{cite web|url=https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?locations=PT|title=GDP per capita, PPP (current international $) - Portugal|publisher=The World Bank |access-date=3 July 2024}}</ref> In 2023, Portugal had the 5th lowest GDP per capita (PPP) of the eurozone out of 20 members, and the 8th lowest of the European Union out of 27 member-states.<ref>{{Cite web |last= |title=GDP per capita, PPP (current international $) - European Union |url=https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?end=2023&locations=EU&most_recent_value_desc=true&skipRedirection=true&start=2023&view=bar |access-date=3 July 2024 |publisher=The World Bank |language=en }}</ref> In 2022, [[Workforce productivity|labour productivity]] had fallen to the fourth lowest among the 27 member-states of the European Union (EU) and was 35% lower than the EU average.<ref>{{Cite web |title=Produtividade por hora de trabalho — Instituto +Liberdade |url=https://maisliberdade.pt/maisfactos/produtividade-por-hora-de-trabalho/ |access-date=13 June 2023 |website=Mais Liberdade |language=pt |archive-date=7 June 2023 |archive-url=https://web.archive.org/web/20230607082310/https://maisliberdade.pt/maisfactos/produtividade-por-hora-de-trabalho/ |url-status=live }}</ref> Portugal was an original member of the [[eurozone]]. The national currency, the [[euro]] (€) started transitioning from the [[Portuguese Escudo]] in 2000 and consolidated in 2002. Portugal's central bank is the ''[[Banco de Portugal]]'', an integral part of the [[European System of Central Banks]]. Most industries, businesses and financial institutions are concentrated in the [[Lisbon metropolitan area|Lisbon]] and [[Greater Metropolitan Area of Porto|Porto]] metropolitan areas – the [[Setúbal District|Setúbal]], [[Aveiro District|Aveiro]], [[Braga District|Braga]], [[Coimbra District|Coimbra]], [[Leiria District|Leiria]] and [[Faro District|Faro]] districts are the biggest economic centres outside these two main areas. Since the [[Carnation Revolution]] of 1974, which culminated in the end of one of Portugal's most notable [[Economic history of Portugal|phases of economic expansion]],<ref>{{cite web|title=História|url=http://www.sedes.pt/conteudo.aspx?args=1,2|publisher=SEDES|access-date=12 May 2013|language=pt, en|year=2013|archive-url=https://web.archive.org/web/20120319193720/http://www.sedes.pt/conteudo.aspx?args=1,2|archive-date=19 March 2012|url-status=dead}}</ref> a significant change has occurred in the nation's annual economic growth.<ref>{{cite web|url=http://analisesocial.ics.ul.pt/documentos/1223460596B6rVC1pu1Mx32RY7.pdf|title=Ruptura e regulação da economia portuguesa nos anos 70|website=Analisesocial.ics.ul.pt|access-date=2 April 2019|archive-date=2 April 2019|archive-url=https://web.archive.org/web/20190402200125/http://analisesocial.ics.ul.pt/documentos/1223460596B6rVC1pu1Mx32RY7.pdf|url-status=live}}</ref> After the turmoil of the 1974 revolution, Portugal tried to adapt to a changing [[Globalization|modern global economy]], a process that continues. Since the 1990s, Portugal's [[consumption (economics)|public consumption]]-based [[economic development]] model has changed to a system focused on exports, private [[investment (macroeconomics)|investment]] and the development of the [[high-tech]] sector. Consequently, business services have overtaken more traditional industries such as textiles, clothing, footwear and [[cork (material)|cork]] (Portugal is the world's leading cork producer),<ref>''Grande Enciclopédia Universal'', p. 10543, "Portugal", para. 4</ref> wood products and beverages.<ref name="autogenerated1">{{cite web|title=Investing in Portugal|url=http://www.ft.com/reports/investportugal2008 |archive-url=https://ghostarchive.org/archive/20221210/http://www.ft.com/reports/investportugal2008 |archive-date=10 December 2022 |url-access=subscription |url-status=live|publisher=The Financial Times Ltd|access-date=11 May 2013|date=8 April 2008}}</ref> In the 2010s, the Portuguese economy suffered its most severe recession since the 1970s, which resulted in the country receiving a 78-billion-euro bailout from the [[European Union]] and the [[International Monetary Fund]] in May 2011.<ref name="nytimes">{{cite news|url=https://www.nytimes.com/2012/02/15/business/global/portugals-debt-efforts-may-be-a-warning-for-greece.html|title=Portugal's Debt Efforts May Be a Warning for Greece|first=Landon Jr.|last=Thomas|date=14 February 2012|access-date=2 August 2017|newspaper=[[The New York Times]]|archive-date=27 August 2017|archive-url=https://web.archive.org/web/20170827015107/http://www.nytimes.com/2012/02/15/business/global/portugals-debt-efforts-may-be-a-warning-for-greece.html|url-status=live}}</ref> By end of 2023, the share of debt as percentage of GDP fell below 100 percent, to 97.9%,<ref>{{cite web |title=Procedimento dos Défices Excessivos 2ª Notificação|url=https://www.ine.pt/xportal/xmain?xpid=INE&xpgid=ine_destaques&DESTAQUESdest_boui=645949245&DESTAQUESmodo=2 |publisher=[[Instituto Nacional de Estatística (Portugal)|INE]] |access-date=14 October 2024}}</ref> and fell further to 94.9% by the end of 2024.<ref>{{cite web |title=Procedimento dos Défices Excessivos - 2025|url=https://www.ine.pt/xportal/xmain?xpid=INE&xpgid=ine_destaques&DESTAQUESdest_boui=698316787&DESTAQUESmodo=2 |website=www.ine.pt |publisher=Instituto Nacional de Estatística |date=26 March 2025|access-date=26 March 2025}}</ref> In 2024, the average gross salary was €1,602 per month,<ref>{{cite web |title=Em termos reais, a remuneração bruta total mensal média por trabalhador aumentou 3,2%. Em 2024, aumentou 3,8% - 4.º Trimestre de 2024 |url=https://www.ine.pt/xportal/xmain?xpid=INE&xpgid=ine_destaques&DESTAQUESdest_boui=695021120&DESTAQUESmodo=2 |publisher=[[Instituto Nacional de Estatística (Portugal)|INE]] |access-date=14 February 2025|date=14 February 2025}}</ref> and the [[minimum wage]], which is regulated by law, is €870 per month (paid 14 times per annum) as of 2025.<ref>{{cite news|url=https://www.pordata.pt/pt/estatisticas/salarios-e-pensoes/salarios/salario-minimo-nacional|title=Salário mínimo nacional|publisher=Portdata|access-date=1 January 2025|language=pt}}</ref> The [[Global Competitiveness Report]] for 2019, published by the [[World Economic Forum]], placed Portugal 34th. The Numbeo quality of life index placed Portugal 20th in the world in 2023.<ref name="Quality" /> [[File:Vehículos en el puerto de Setúbal, Portugal, 2019-05-24, DD 01.jpg|thumb|[[Volkswagen Autoeuropa]] cars in the Port of Setúbal]] Companies listed on [[Euronext Lisbon]] [[stock exchange]] like [[Energias de Portugal|EDP]], [[Galp Energia|Galp]], [[Jerónimo Martins]], [[Mota-Engil]], Novabase, [[Semapa]], [[Portucel Soporcel]], [[Portugal Telecom]] and [[Sonae]], are among the largest corporations by number of employees, [[net income]] or international [[market share]]. The Euronext Lisbon is the major stock exchange and part of the pan-European group of stock exchanges [[Euronext]]. The [[PSI-20]] is Portugal's most selective and widely known [[stock index]]. The [[OECD]] economic reports since 2018 show recovery.<ref>{{cite web|url=https://www.imf.org/en/News/Articles/2017/06/29/mcs6292017-portugal-staff-concluding-statement-of-the-2017-article-iv-mission|title=Portugal: Staff Concluding Statement of the 2017 Article IV Mission |publisher=[[International Monetary Fund]] |access-date=2 August 2017|archive-date=2 August 2017|archive-url=https://web.archive.org/web/20170802210018/https://www.imf.org/en/News/Articles/2017/06/29/mcs6292017-portugal-staff-concluding-statement-of-the-2017-article-iv-mission|url-status=live}}</ref><ref>{{cite web|url=https://ec.europa.eu/info/sites/info/files/file_import/2019-european-semester-country-report-portugal_en_0.pdf|title=Country Report Portugal 2019 Including an In-Depth Review on the prevention and correction of macroeconomic imbalances|year=2019|publisher=European Commission|access-date=11 July 2020|archive-date=8 March 2021|archive-url=https://web.archive.org/web/20210308143234/https://ec.europa.eu/info/sites/info/files/file_import/2019-european-semester-country-report-portugal_en_0.pdf|url-status=live}}</ref><ref>{{cite web|url=http://www.oecd.org/economy/portugal-economic-snapshot/|title=Portugal Economic Snapshot - OECD|publisher=OECD |access-date=13 April 2020|archive-date=3 April 2020|archive-url=https://web.archive.org/web/20200403122638/http://www.oecd.org/economy/portugal-economic-snapshot/|url-status=live}}</ref> Rents and house prices have skyrocketed in Portugal, particularly Lisbon, where rents jumped 37% in 2022. The 8% inflation rate in the same year exacerbated the problem.<ref>{{Cite news |last1=Rua |first1=Patricia Vicente |last2=Demony |first2=Catarina |last3=Demony |first3=Catarina |date=17 February 2023 |title=Portugal ends Golden Visas, curtails Airbnb rentals to address housing crisis |language=en |publisher=Reuters |url=https://www.reuters.com/markets/europe/portugal-ends-golden-visas-curtails-airbnb-rentals-address-housing-crisis-2023-02-16/ |access-date=17 February 2023 |archive-date=17 February 2023 |archive-url=https://web.archive.org/web/20230217132101/https://www.reuters.com/markets/europe/portugal-ends-golden-visas-curtails-airbnb-rentals-address-housing-crisis-2023-02-16/ |url-status=live }}</ref> According to the IMF, Portugal's economic recovery from the COVID pandemic in 2022 was substantially better than the EU average. Although modest, economic growth continued in 2023 while inflation continued decreasing to 5%.<ref>{{Cite web|url=https://www.imf.org/en/Publications/CR/Issues/2023/06/21/Portugal-2023-Article-IV-Consultation-Press-Release-and-Staff-Report-535040#:~:text=IMF%20Staff%20Country%20Reports&text=Growth%20is%20projected%20to%20slow,core%20inflation%20declining%20more%20gradually|access-date=22 July 2023|title=Portugal 2023 Article IV Consultation|archive-date=24 July 2023|archive-url=https://web.archive.org/web/20230724185359/https://www.imf.org/en/Publications/CR/Issues/2023/06/21/Portugal-2023-Article-IV-Consultation-Press-Release-and-Staff-Report-535040#:~:text=IMF%20Staff%20Country%20Reports&text=Growth%20is%20projected%20to%20slow,core%20inflation%20declining%20more%20gradually|url-status=live}}</ref><ref>{{Cite web|url=https://economy-finance.ec.europa.eu/economic-surveillance-eu-economies/portugal/economic-forecast-portugal_en|title=Economic forecast for Portugal - European Commission|website=economy-finance.ec.europa.eu|access-date=30 August 2023|archive-date=30 August 2023|archive-url=https://web.archive.org/web/20230830172558/https://economy-finance.ec.europa.eu/economic-surveillance-eu-economies/portugal/economic-forecast-portugal_en|url-status=live}}</ref> In 2024 the annual inflation continued a downward trend ending at 2.3% and accompanied by a small economic growth.<ref>{{cite web|url=https://economy-finance.ec.europa.eu/economic-surveillance-eu-economies/portugal/economic-forecast-portugal_en#:~:text=All%20in%20all%2C%20annual%20HICP,Autumn%20Forecast%20for%20both%20years. |title=Economic forecast for Portugal - European Commission }}</ref><ref>{{cite web|url=https://cepr.org/voxeu/columns/unhappy-anniversary-missed-opportunities-growth-and-convergence-portugal|title=Unhappy Anniversary Missed Opportunities Growth and Convergence Portugal|date=11 March 2024}}</ref> In 2025, the economy is expected to continue growing at 1.9 annually, while inflation is forecast at 2.1% for the fiscal year. These moderately optimistic indicators are supported by increased private consumption, investment, employment growth and unemployment easing.<ref>{{cite web|url=https://economy-finance.ec.europa.eu/economic-surveillance-eu-economies/portugal/economic-forecast-portugal_en|title=economic forecast portugal|publisher=European Commission|date=15 November 2025}}</ref> Agriculture in Portugal is based on small to medium-sized family-owned dispersed units. However, the sector also includes larger scale [[intensive farming]], export-oriented [[agrobusiness]]es. The country produces a variety of crops and livestock products, including: tomatoes, [[citrus]], [[green vegetables]], [[rice]], [[wheat]], [[barley]], [[maize]], [[olive]]s, [[oilseed]]s, [[Nut (fruit)|nuts]], [[Cherry|cherries]], [[bilberry]], [[table grapes]], [[edible mushroom]]s, [[dairy products]], [[poultry]] and [[beef]]. According to [[FAO]], Portugal is the top producer of [[Cork (material)|cork]] and [[carob]] in the world, accounting for about 50% and 30% of world production, respectively.<ref>{{cite web |url=http://www.fao.org/faostat/en/#data/QC |title=Crop production |publisher=FAO |access-date=21 July 2020 |archive-date=12 November 2016 |archive-url=https://web.archive.org/web/20161112130804/http://www.fao.org/faostat/en/#data/QC |url-status=live }}</ref> It is the third largest exporter of [[chestnut]]s and third largest European producer of [[Pulp (paper)|pulp]].<ref>{{cite web |url=https://florestas.pt/valorizar/de-portugal-para-o-mundo-produtos-florestais-lideres-de-mercado/ |title=De Portugal para o mundo: produtos florestais líderes de mercado |publisher=Florestas |date=18 March 2020 |access-date=24 December 2023 |archive-date=13 August 2023 |archive-url=https://web.archive.org/web/20230813184110/https://florestas.pt/valorizar/de-portugal-para-o-mundo-produtos-florestais-lideres-de-mercado/ |url-status=live }}</ref> Portugal is among the world's top ten largest [[olive oil]] producers and fourth largest exporter.<ref>{{Cite web|url=https://azeitedoalentejo.pt/en/o-azeite-do-alentejo/|title=Alentejo Olive Oil – Azeite do Alentejo|access-date=26 April 2021|archive-date=26 April 2021|archive-url=https://web.archive.org/web/20210426151910/https://azeitedoalentejo.pt/en/o-azeite-do-alentejo/|url-status=live}}</ref> The country is one of the world's largest exporters of [[wine]], reputed for its fine wines. [[Forestry]] has played an important economic role among the rural communities and industry. In 2001, the gross agricultural product accounted for 4% of the economy; in 2022 it was 2%.<ref>{{cite web |url=https://www.theglobaleconomy.com/Portugal/share_of_agriculture/ |title=Portugal GDP share of agriculture - data, chart |access-date=6 January 2024 |archive-date=2 February 2024 |archive-url=https://web.archive.org/web/20240202203838/https://www.theglobaleconomy.com/Portugal/share_of_agriculture/ |url-status=live }}</ref> === Tourism === {{main|Tourism in Portugal}} [[File:Praia da Marinha (35518737040).jpg|thumb|Portuguese coast in [[Algarve]]]] Travel and [[Tourism in Portugal|tourism]] is an important part of Portugal's economy. As of 2023, nearly half of real GDP growth was due to the tourism sector, with tourism accounting for 16.5% of GDP.<ref>{{cite web |title=O VAB e o consumo do turismo no território económico reforçaram o seu peso relativo no total da economia, atingindo máximos históricos - 2023 |url=https://www.ine.pt/xportal/xmain?xpid=INE&xpgid=ine_destaques&DESTAQUESdest_boui=646121022&DESTAQUESmodo=2 |publisher=[[Instituto Nacional de Estatística (Portugal)|Statistics Portugal]] |date=1 August 2024 |access-date=3 August 2024}}</ref> It has been necessary for the country to focus upon its niche attractions, such as health, nature and rural tourism, to stay ahead of its competitors.<ref>{{cite web |title=Travel and Tourism in Portugal |url=http://www.euromonitor.com/travel-and-tourism-in-portugal/report |publisher=Euromonitor International |date=September 2012 |access-date=12 May 2013 |archive-date=31 May 2013 |archive-url=https://web.archive.org/web/20130531002309/http://www.euromonitor.com/travel-and-tourism-in-portugal/report |url-status=live }}</ref> Portugal is among the top 20 most-visited countries in the world, receiving more than 26,5 million foreign tourists by 2023.<ref>{{cite news |url=https://www.ine.pt/xportal/xmain?xpid=INE&xpgid=ine_destaques&DESTAQUESdest_boui=646074543&DESTAQUESmodo=2 |title=Estatísticas do Turismo 2023: atividade turística superou níveis de 2019 |work=INE |date=8 July 2024 |access-date=8 July 2024}}</ref> In 2014, Portugal was elected ''The Best European Country'' by ''[[USA Today]]''.<ref>{{cite web |url=http://www.10best.com/awards/travel/best-european-country/ |title=Best European Country Winners: 2014 10 Best Readers' Choice Travel Awards |work=10Best |date=14 May 2014 |access-date=5 June 2014 |archive-date=6 June 2014 |archive-url=https://web.archive.org/web/20140606215138/http://www.10best.com/awards/travel/best-european-country/ |url-status=live }}</ref> In 2017, Portugal was elected both ''Europe's Leading Destination''<ref>{{cite web|url=http://www.worldtravelawards.com/award-europes-leading-destination-2017|title=World Travel Awards Elects Portugal as Europe's Leading Destination 2017|website=Worldtravelawards.com|access-date=30 September 2017|archive-date=11 December 2017|archive-url=https://web.archive.org/web/20171211160926/https://www.worldtravelawards.com/award-europes-leading-destination-2017|url-status=live}}</ref> and in 2018 and 2019, ''World's Leading Destination''<ref>{{cite web|url=http://www.worldtravelawards.com/award-worlds-leading-destination-2017|title=World Travel Awards Elects Portugal as World's Leading Destination 2017|website=Worldtravelawards.com|access-date=10 December 2017|archive-date=11 December 2017|archive-url=https://web.archive.org/web/20171211161049/https://www.worldtravelawards.com/award-worlds-leading-destination-2017|url-status=live}}</ref> Tourist hotspots in Portugal are: [[Lisbon]], [[Cascais]], [[Algarve]], [[Madeira]], [[Nazaré, Portugal|Nazaré]], [[Fátima, Portugal|Fátima]], [[Óbidos, Portugal|Óbidos]], [[Porto]], [[Braga]], [[Guimarães]] and [[Coimbra]]. Lisbon attracts the sixteenth-most tourists among European cities<ref>{{cite web |url=http://www.golisbon.com/blog/2013/05/30/lisbon-slowly-rising-as-one-of-europes-most-visited-cities/ |title=Go Lisbon Blog" Blog Archive" Lisbon Slowly Rising as One of Europe's Most-Visited Cities |publisher=Golisbon.com |date=30 May 2013 |access-date=31 January 2014 |archive-url=https://web.archive.org/web/20131102004548/http://www.golisbon.com/blog/2013/05/30/lisbon-slowly-rising-as-one-of-europes-most-visited-cities/ |archive-date=2 November 2013 |url-status=dead }}</ref> (with seven million tourists occupying the city's hotels in 2006).<ref>{{cite web|url=https://www.dn.pt/inicio/interior.aspx?content_id=651813|title=Cidades atraem mais turistas do que os destinos sol e mar|publisher=Diário das Noticias|access-date=30 April 2011|date=25 January 2007|location=Lisbon|language=pt|editor-first=DN|editor-last=Online|url-status=dead|archive-url=https://web.archive.org/web/20110812140231/http://www.dn.pt/inicio/interior.aspx?content_id=651813|archive-date=12 August 2011}}</ref> === Science and technology === {{Main|Science and technology in Portugal}} [[File:Fundação Champalimaud - Lisboa - Portugal (20864979843).jpg|thumb|[[Champalimaud Foundation]], one of the leading research centres for [[neuroscience]] and [[oncology]] in the world]] Scientific and technological research activities are mainly conducted within a network of [[R&D]] units belonging to [[list of universities in Portugal|public universities]] and state-managed autonomous research institutions like the [[Instituto Nacional de Engenharia, Tecnologia e Inovação|INETI – Instituto Nacional de Engenharia, Tecnologia e Inovação]] and the [[Instituto Nacional dos Recursos Biológicos|INRB – Instituto Nacional dos Recursos Biológicos]]. Funding and management of this system is conducted under the authority of the [[Ministry of Science, Technology and Higher Education]] and the {{lang|pt|[[Fundação para a Ciência e Tecnologia]]|italic=no}} (Foundation for Science and Technology). The largest R&D units of the public universities by volume of research grants and peer-reviewed publications, include [[biosciences]] research institutions. Among the largest non-state-run research institutions are the [[Instituto Gulbenkian de Ciência]] and the [[Champalimaud Foundation]], a neuroscience and oncology research centre. National and multinational high-tech and industrial companies, are responsible for research and development projects. One of the oldest learned societies of Portugal is the [[Lisbon Academy of Sciences]], founded in 1779. [[Iberian peninsula|Iberian]] bilateral state-supported research efforts include the [[International Iberian Nanotechnology Laboratory]] and the [[Ibercivis]] [[distributed computing]] platform. Portugal is a member of pan-European scientific organizations. These include the [[European Space Agency]] (ESA), the [[European Laboratory for Particle Physics]] (CERN), [[ITER]], and the [[European Southern Observatory]] (ESO). Portugal has the largest [[aquarium]] in Europe, the [[Lisbon Oceanarium]], and have other notable organizations focused on science-related exhibits and divulgation, like the state agency ''Ciência Viva'',<ref>{{cite web|title=Ciência Viva|url=http://www.cienciaviva.pt/cienciaviva/index.asp?accao=changelang&lang=en|url-status=dead|archive-url=https://web.archive.org/web/20110429101927/https://www.cienciaviva.pt/cienciaviva/index.asp?accao=changelang&lang=en|archive-date=29 April 2011|access-date=22 August 2010|publisher=Cienciaviva.pt}}</ref> the [[Science Museum of the University of Coimbra]], the [[List of natural history museums#Portugal|National Museum of Natural History]] at the University of Lisbon, and the [[Visionarium (Portugal)|Visionarium]]. The [[European Innovation Scoreboard]] 2011, placed Portugal-based innovation 15th, with increase in innovation expenditure and output.<ref>{{Cite web |url=http://economia.publico.pt/Noticia/portugal-ganha-terreno-no-ranking-da-inovacao_1478035 |title=Portugal ganha terreno no ranking da inovação |access-date=1 February 2011 |archive-date=1 February 2011 |archive-url=https://web.archive.org/web/20110201160623/http://economia.publico.pt/Noticia/portugal-ganha-terreno-no-ranking-da-inovacao_1478035 |url-status=live }}</ref> Portugal was ranked 31st in the [[Global Innovation Index]] in 2024.<ref>{{Cite book |author=[[World Intellectual Property Organization]] |year=2024 |title=Global Innovation Index 2024: Unlocking the Promise of Social Entrepreneurship |url=https://www.wipo.int/web-publications/global-innovation-index-2024/en/ |access-date=6 October 2024 |page=18 |publisher=World Intellectual Property Organization |language=en |doi=10.34667/tind.50062 |isbn=978-92-805-3681-2}}</ref> === Transport === {{Main|Transport in Portugal}} [[File:Túnel do Marão.jpg|thumb|[[Serra do Marão|Marão]] tunnel, the longest road tunnel in the [[Iberian Peninsula]]<ref>{{cite web|url=http://servicos.infrastruturasdeportugal.pt/pt-pt/a-descobrir/obras-de-arte/tunel-do-marao-ips |title=Tunel do Marão |publisher=[[Infraestruturas de Portugal]]|date=May 2016 |access-date=16 January 2024}}</ref>]] Portugal has a {{convert|68732|km|mi|0|abbr=on}} road network, of which almost {{convert|3000|km|mi|0|abbr=on}} are part of system of 44 motorways. On many highways, a toll needs to be paid (see [[Via Verde]]). [[Vasco da Gama bridge]] is the longest bridge in the [[European Union|EU]] (the second longest in Europe) at {{Convert|12.345|km|abbr=on}}.<ref>{{cite web|url=http://www.listafterlist.com/tabid/57/listid/7961/Travel++Places/Top+10+Longest+Bridges+in+the+World.aspx|title=ListAfterList.com|publisher=ListAfterList.com|access-date=22 August 2010|url-status=dead|archive-url=https://web.archive.org/web/20100502013507/http://www.listafterlist.com/tabid/57/listid/7961/Travel++Places/Top+10+Longest+Bridges+in+the+World.aspx|archive-date=2 May 2010}}</ref><ref>{{cite web |url=http://www.curiousread.com/2008/02/ten-longest-bridges-in-world.html |title=Curious? Read |publisher=Curiousread.com |date=February 2008 |access-date=22 August 2010 |archive-date=3 May 2011 |archive-url=https://web.archive.org/web/20110503225226/http://www.curiousread.com/2008/02/ten-longest-bridges-in-world.html |url-status=live }}</ref> [[Continental Portugal]]'s {{convert|89015|km2|0|abbr=on}} territory is serviced by four international airports located near the principal cities of [[Lisbon]], [[Porto]], [[Faro, Portugal|Faro]] and [[Beja (Portugal)|Beja]]. Lisbon's geographical position makes it a stopover for many foreign airlines at several airports within the country. The primary [[flag-carrier]] is [[TAP Air Portugal]], although many other domestic airlines provide services within and without the country. The most important airports are in [[Portela Airport|Lisbon]], [[Francisco Sá Carneiro Airport|Porto]], [[Faro Airport|Faro]], [[Madeira Airport|Funchal]] (Madeira), and [[João Paulo II Airport|Ponta Delgada]] (Azores), managed by the national airport authority group [[ANA – Aeroportos de Portugal]]. A [[New Lisbon Airport|new airport]], to replace the current Lisbon airport, has been planned for more than 50 years, but it has been always postponed by a series of reasons.<ref>{{cite web|url=https://sicnoticias.pt/economia/2023-12-04-Novo-aeroporto-relatorio-preliminar-e-mais-um-passo-num-tema-com-50-anos-9ec0dabe|title=Novo aeroporto: relatório preliminar é mais um passo num tema com 50 anos|publisher=SIC Notícias|date=4 December 2023|access-date=13 January 2024|archive-date=12 December 2023|archive-url=https://web.archive.org/web/20231212033951/https://sicnoticias.pt/economia/2023-12-04-Novo-aeroporto-relatorio-preliminar-e-mais-um-passo-num-tema-com-50-anos-9ec0dabe|url-status=live}}</ref> A national railway system that extends throughout the country and into Spain, is supported and administered by [[Comboios de Portugal]] (CP). [[Rail transport]] of passengers and goods is derived using the {{convert|2791|km|mi|0|abbr=on}} of railway lines currently in service, of which {{convert|1430|km|mi|0|abbr=on}} are electrified and about {{convert|900|km|mi|0|abbr=on}} allow train speeds greater than {{convert|120|km/h|mph|0|abbr=on}}. The railway network is managed by [[Infraestruturas de Portugal]] while the transport of passengers and goods are the responsibility of CP, both public companies. In 2006, the CP carried 133,000,000 passengers and {{convert|9750000|t|LT ST|sigfig=3|abbr=off|lk=on}} of goods. [[File:Metro do Porto - MP 100 (6289259423).jpg|thumb|[[Metro do Porto]] [[Bombardier Flexity Swift]] train in [[Maia, Portugal|Maia]]]] The major seaports are located in [[Port of Sines|Sines]], [[Leixões]], [[Port of Lisbon|Lisbon]], [[Setúbal]], [[Aveiro, Portugal|Aveiro]], [[Figueira da Foz]], and [[Faro, Portugal|Faro]]. The two largest metropolitan areas have subway systems: [[Lisbon Metro]] and [[Metro Transportes do Sul|Metro Sul do Tejo]] light rail system in the [[Lisbon metropolitan area]], and [[Porto Metro]] [[Medium-capacity rail system|light metro]] system in the [[Porto Metropolitan Area]], each with more than {{convert|35|km|mi|0|abbr=on}} of lines. [[Coimbra]] is currently developing a [[Bus rapid transit]] system, [[Metro Mondego]], as is the [[Algarve]], [[Algarve Metrobus]]. In Portugal, [[Trams in Lisbon|Lisbon tram services]] have been supplied by the ''Companhia de Carris de Ferro de Lisboa'' ([[Carris]]), for over a century. In [[Porto]], [[Trams in Porto|a tram network]], of which only a tourist line on the shores of the [[Douro]] remains, began construction on 12 September 1895 (a first for the [[Iberian Peninsula]]). All major cities and towns have their own local urban transport network, as well as taxi services. === Energy === {{Main|Energy in Portugal}} [[File:Alqueva dam.JPG|thumb|[[Alqueva Dam]], the largest dam and artificial lake in Western Europe]] As of 2023, oil made up 44% of Portugal's total energy supply. However the country phased out coal-fired generation in 2021 and has been developing [[Renewable energy|renewable energies]] such as [[Hydroelectricity|hydopower]] and [[wind power]]<ref>{{Cite web |title=Portugal - Countries & Regions |url=https://www.iea.org/countries/portugal |access-date=11 March 2025 |website=IEA |language=en-GB}}</ref> and investing in public transport and [[electric vehicle]]s.<ref>{{Cite web |title=Portugal's recovery and resilience plan - European Commission |url=https://commission.europa.eu/business-economy-euro/economic-recovery/recovery-and-resilience-facility/country-pages/portugals-recovery-and-resilience-plan_en#:~:text=Key%20measures%20for%20the%20green,part%20of%20the%20REPowerEU%20chapter. |access-date=11 March 2025 |website=commission.europa.eu |language=en}}</ref><ref>{{Cite web |date=2019 |title=Portugal's National Energy and Climate Plan for 2021-2030 - Climate Change Laws of the World |url=https://climate-laws.org/document/portugal-s-national-energy-and-climate-plan-for-2021-2030_47f6 |access-date=11 March 2025 |website=climate-laws.org}}</ref> Portugal has considerable wind and hydropower resources. In 2006, the world's then largest [[solar energy|solar power]] plant, the [[Moura Photovoltaic Power Station]], began operating, while the world's first commercial [[wave power]] farm, the [[Aguçadoura Wave Farm]], opened in the [[North Region, Portugal|Norte region]] (2008). By 2006, 66% of the country's electrical production was from coal and fuel power plants, while 29% were derived from [[hydroelectric]] dams, and 6% by [[wind energy]].<ref>{{cite web |url=https://www.iea.org/data-and-statistics/data-tools/energy-statistics-data-browser?country=PORTUGAL&fuel=Energy%20supply&indicator=ElecGenByFuel |title=IEA Energy Statistics: Portugal |access-date=7 April 2009 |publisher=[[International Energy Agency]] |year=2006 |url-status=dead |archive-date=4 November 2022 |archive-url=https://web.archive.org/web/20221104142037/https://www.iea.org/data-and-statistics/data-tools/energy-statistics-data-browser?country=PORTUGAL&fuel=Energy%20supply&indicator=ElecGenByFuel }}</ref> In 2008, renewable energy resources were producing 43% of the nation's electricity, even as hydroelectric production decreased with severe droughts.<ref>{{Cite news |url=https://diariodigital.sapo.pt/news.asp?section_id=114&id_news=381941 |title=Fontes renováveis originaram 43% da electricidade consumida |work=Diário Digital |author=Staff |date=8 April 2009 |language=pt |access-date=17 April 2009 |archive-url=https://web.archive.org/web/20110514163035/http://diariodigital.sapo.pt/news.asp?section_id=114&id_news=381941 |archive-date=14 May 2011 |url-status=dead }}</ref> As of 2010, electricity exports had outnumbered imports and 70% of energy came from renewable sources.<ref>{{Cite news |url=http://www.agenciafinanceira.iol.pt/empresas/portugal-agencia-financeira-ren-energia-electricidade/1168567-1728.html |title=Portugal já exportou mais electricidade este ano que em 2009 |work=Agência Financeira |date=8 June 2010 |language=pt |access-date=8 June 2010 |url-status=dead |archive-url=https://web.archive.org/web/20100619070535/http://www.agenciafinanceira.iol.pt/empresas/portugal-agencia-financeira-ren-energia-electricidade/1168567-1728.html |archive-date=19 June 2010 }}</ref> Portugal's national energy transmission company, [[Redes Energéticas Nacionais]] (REN), uses modelling to predict weather, especially wind patterns. Before the solar/wind revolution, Portugal had generated electricity from hydropower plants on its rivers for decades. New programmes combine wind and water: wind-driven turbines pump water uphill at night; then water flows downhill by day, generating electricity, when consumer demand is highest. Portugal's distribution system is now two-way. It draws electricity small generators, like rooftop solar panels. In 2023 Portugal emitted around 339 million tonnes of [[greenhouse gas]]es (about 5 tonnes per person), equivalent to around 1% of global total emissions.<ref>{{Cite report |last1=Jones |first1=Matthew W. |title=National contributions to climate change due to historical emissions of carbon dioxide, methane and nitrous oxide |date=13 November 2024 |publisher=EU Open Research Repository |url=https://zenodo.org/records/14054503 |access-date=11 March 2025 |doi=10.5281/zenodo.14054503 |last2=Peters |first2=Glen P. |last3=Gasser |first3=Thomas |last4=Andrew |first4=Robbie M. |last5=Schwingshackl |first5=Clemens |last6=Gütschow |first6=Johannes |last7=Houghton |first7=Richard A. |last8=Friedlingstein |first8=Pierre |last9=Pongratz |first9=Julia}}</ref> As an EU member state, Portugal is part of their joint plan to reduce emissions by a minimum of 55% by 2030, compared to the level of emissions in 1990. Portugal has committed to carbon neutrality and [[Net-zero emissions|net zero]] by 2050.<ref>{{Cite web |title=Portugal Climate Change Data {{!}} Emissions and Policies |url=https://www.climatewatchdata.org/countries/PRT?end_year=2021&start_year=1990 |access-date=11 March 2025 |website=climatewatchdata.org}}</ref>
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