1. World Cup 2030 Will Generate Nearly €400 Million in Tax Revenue for Portugal
The 2030 FIFA World Cup, hosted by Portugal, Spain, and Morocco, is expected to generate significant economic benefits for Portugal, with tax revenue reaching nearly €400 million. This will come from consumption, production, and wages related to the event. The World Cup is forecasted to attract between 300,000 and 500,000 international visitors, resulting in a direct expenditure of between €500 million and €660 million in key sectors like accommodation, transport, and leisure. The economic dynamism from the event is estimated to add up to €730 million in local economic spending.
The event’s impact will also be felt in Portugal’s labor market, with 18,000 to 23,000 jobs expected to be created, generating approximately €330 million in wages. Additionally, the World Cup will promote labor diversity, with over 11,000 female jobs and up to 1,500 opportunities for young people under 24. These employment opportunities will positively influence the nation’s GDP, which is projected to increase by between €700 million and €900 million, contributing to a 0.27-0.34% rise in Portugal’s 2023 GDP.
Beyond the immediate economic benefits, the World Cup will provide intangible advantages in terms of social cohesion and national pride, with an estimated €81 million to €88 million in perceived well-being. Investments in sports infrastructure will yield a return of approximately €8.5 per euro spent. Furthermore, hosting the event will elevate Portugal’s global reputation, open new trade and international relations opportunities, and attract foreign direct investment (FDI) of between €104 million and €313 million, leaving a lasting socio-economic legacy.
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2. IMT Bans Women-Only TVDE Platform for Being Discriminatory
The Institute for Mobility and Transport (IMT) has ordered the cessation of activities for Pinker, a women-only TVDE platform, due to non-compliance with Article 7 of Law No. 45/2018, which mandates equal access to TVDE services without discrimination based on factors such as gender. The platform, which only accepted female drivers and was for women users, failed to meet the legal requirements for non-discrimination. After reviewing Pinker’s clarifications, the IMT confirmed that it would proceed with suspending the platform’s operations.
Despite the ban, Pinker’s founder, Mónica Faneco, argued that the platform did not discriminate but instead practiced positive discrimination, emphasizing her commitment to defending women’s rights. Faneco also expressed plans to expand the platform to other European markets, including Spain and Italy, and launched a petition advocating for the creation of women-only businesses as a means to promote gender equality and provide inclusive workspaces.
The petition, which has garnered significant support, calls for the Assembly of the Republic to study the legal and economic feasibility of encouraging women-only businesses in Portugal. It seeks fiscal and financial incentives for female entrepreneurship, particularly for women facing economic or social vulnerability. The initiative also points to the positive impact of similar efforts in other countries, such as increased female workforce participation and improved labor conditions.
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3. Families in Difficulty Increase, and Many Are Turning to Credit to Pay Rent
The rising cost of living has outpaced income growth, leading to a significant increase in the number of families facing financial difficulties. Many people are turning to credit to pay both rent and mortgage installments, as the high cost of housing and other essential expenses, such as groceries and utilities, strain household budgets. Natália Nunes, coordinator of Deco’s Financial Protection Office, emphasized that while taking on credit can be risky, it is often the only option for families struggling to keep up with their financial obligations.
Nunes pointed out that families renting homes with fixed-term contracts are especially affected, as they are confronted with higher rent prices when seeking new properties. The only way some can afford deposits and first-month payments is by resorting to credit, leading to higher debt. Despite a drop in interest rates, mortgage payments remain high, and overall living expenses have significantly increased, exacerbating the financial pressure on families.
Unlike the crisis of 2008 and 2012, today’s financial struggles are not caused by unemployment or wage cuts but by soaring costs that far exceed income growth. More than 75% of the families seeking help from Deco in 2024 are employed, yet they still face mounting difficulties in meeting essential expenses. Nunes concluded that, for lower-income families, surviving and covering basic needs has become increasingly challenging, though some lessons from previous crises have allowed families and financial institutions to better prepare for these tough times.
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4. Airport Workers on a 5-Day Strike
Workers from SPdH/Menzies (formerly Groundforce) began a strike on Sunday that will last until midnight on December 26, demanding better pay and working conditions. The strike, which began at midnight, is being carried out in two-hour shifts during the start and/or end of work shifts, according to the strike notice issued by the Metalworking and Allied Industries Union (SIMA).
The workers, who provide ground assistance (handling) at airports, are protesting the company’s failure to address demands related to salary issues and working conditions. These issues include a lack of transportation for workers during certain hours when shifts begin and end, as well as the requirement for workers to pay for parking when they drive their own cars.
SIMA is also calling for Menzies to eliminate wages below the national minimum wage (820 euros in 2024) and to comply with the payment of night hours as stipulated in the company agreement. In addition to workers from the former Groundforce, workers from the handling company Portway have also scheduled a strike during the Christmas and New Year period. The strike planned by the unions covers all overtime work, starting at midnight on December 24, 2024, until midnight on January 1, 2025, and will also take place from midnight to midnight on December 24 and December 31, 2024. Note that the strike will also include work on public holidays that are normal working days, from December 24 until January 2, 2025.
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5. Arrow Group Purchases Five-Star Hotel in Vilamoura
The British Arrow Group is strengthening its investment in Vilamoura with the acquisition of the five-star Anantara Vilamoura Algarve Resort from the Thai group Minor, according to the announcement of the operation published by the Competition Authority. The transaction involves the purchase by Vilamoura World Holdings, S.A. (“VWH”) of exclusive control over Minor Luxury Hotels Vilamoura, S.A. (“Minor Vilamoura”), as stated in the notice.
VWH is a Portuguese company that is part of the British Arrow Group, which has operations in Portugal in the management of non-performing loans (through Whitestar) and in the real estate sector (Norfin). Minor Vilamoura owns and operates the five-star hotel in the Algarve region, located in Vilamoura, under the Anantara Hotels & Resorts brand. The value of the transaction was not disclosed. However, in 2021, Arrow acquired the Vilamoura Project, including the marina and part of the development, from Lone Star, owner of Novobanco, for around 100 million euros.
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6. Cryptocurrency Pyramid Scheme Defrauds Hundreds in Portugal
In 2018, a man and woman created a pyramid business model using cryptocurrency investments to lure victims. Hundreds of people were defrauded. The Public Prosecutor’s Office, through the Central Department of Investigation and Criminal Action (DCIAP), has charged the couple for running a scheme that used cryptocurrency investments to deceive victims, causing losses of over 2.1 million euros, according to the Jornal de Notícias.
The product, called Optionsknight, created by the accused, is currently flagged with a red alert by the Bank of Portugal. It was advertised on social media and during public presentations in Aveiras de Cima, Coimbra, and Alenquer. According to the charges, victims were recruited to join a network in which they would be at the center, and other investors would join based on their referrals. Subsequently, the funds deposited in accounts registered with Portuguese payment institutions were redirected to accounts owned by the accused couple on cryptocurrency trading platforms (exchanges). Payments made to investors were funded by new investments from incoming participants, generating what is known as a Ponzi or pyramid scheme.
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7. Portugal to Have the First “Olfactory Route” in the World
Portugal will launch the first “Olfactory Route”, a project designed to engage the senses and connect visitors with local traditions through four paths: botanical, gastronomic, literary, and social. This initiative celebrates Portugal’s cultural, natural, and community richness, offering a deep and unforgettable way to explore the country by smell. The “Portugal by Nose” project, created by Cláudia Camacho and experts in botany, gastronomy, and literature, will be presented at the BTL 2025.
The botanical route will introduce participants to native flora and edible plants, guided by local experts. The gastronomic path will connect producers, chefs, and farmers, promoting seasonality and collaboration. The literary route will highlight the relationship between literature and landscape, offering scenic tours inspired by local writers. The social route aims to preserve local knowledge and traditions, collecting oral testimonies and old recipes from elders.
Note that Portugal is the first country to develop such a route, a sensory and mnemonic journey where smell plays a central role in creating lasting memories. As 35% of memories are anchored in scents, this route will allow travelers to rediscover Portugal in a profound, unique way, celebrating its heritage.
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8. New Portuguese Short Film Festival Focuses on Young Creators
The Future World Film Festival is a new international festival dedicated to short and micro short films, providing young creators, from 12 to 17 years old, with the opportunity to showcase their talents. The festival invites submissions of films, ranging from 2 to 20 minutes, created using digital tools like smartphones. Winners across several categories, including Best Short Film and Best Documentary Short, will be announced at a ceremony on June 17, at the Cinema São Jorge.
This initiative was conceived by Tehani Nguyen, a 16-year-old French student living in Lisbon, who aims to offer her generation a platform to express their creativity. Tehani, already experienced in various artistic domains, including assisting in the short film Telepørter and working with prestigious institutions, is driven to create opportunities for young filmmakers.
The festival will be judged by a distinguished jury, including well-known names like actresses Daniela Ruah and Beatriz Batarda, and producers from Game of Thrones and Breaking Bad. Tickets for the awards ceremony cost €5, with free entry for attendees under 18. FilmFreeway hosts the platform for submissions, encouraging youth engagement in the film industry.
Where? Cinema São Jorge. Avenida da Liberdade, 175.
When? June 17, 2025. How much? 5 euros (free for <18).
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9. Lisbon Metro Closes Earlier on Christmas Eve and Reopens Later
Lisbon Metro will close earlier on Christmas Eve, at 10:00 PM, resuming service at 8:00 AM on Christmas Day. This schedule adjustment reflects the significant decrease in demand during these holidays, similar to previous years. Customer service will be closed on December 24, except for a few key stations, where urgent card requests can be processed.
In 2025, prices for monthly and 30-day Navegante passes will remain unchanged. However, occasional ticket prices will increase starting January 1. The price for a Carris/Metro ticket will rise to €1.85, while Zapping fares will go up to €1.66. Daily ticket prices will also increase for Carris/Metro and other services.
The changes in operational hours on Christmas and fare adjustments in 2025 highlight the Lisbon Metro’s response to demand fluctuations and the ongoing pricing updates for occasional tickets.
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10. Luxury Real Estate: Lisbon Ahead of London or Milan in 2025 Forecasts
Lisbon stands ahead of London and Milan in luxury real estate forecasts for 2025, with a predicted growth of 4.5%. The Southern Europe “post-pandemic oasis” attracts investors seeking hybrid work, sunny climates, and top international schools. According to Knight Frank, the region is thriving due to high-quality lifestyle, transparent markets, and accessibility, filling all post-pandemic investor needs.
Portugal’s real estate market is part of a broader European trend, with the luxury sector benefiting from economic resilience. Lisbon’s growth is propelled by these factors, while other cities like Milan, with a predicted 3.5% increase, are also seeing increased demand. The southern European markets are expected to outperform many eurozone economies, making Lisbon a prime destination.
Despite slow economic growth in Europe, challenges like political instability in France and Germany don’t significantly impact the sector. Lisbon and other cities like Stockholm, Marbella, and Madrid continue to attract global wealth, with luxury residential markets flourishing and meeting post-pandemic demands.
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