Tourism in Portugal is a "dual sign of hope"

The Portuguese Prime Minister Luís Montenegro began by praising the Portuguese Tourism Confederation for its role in selling the country "not just as a transit point, but also a destination for diversified tourist offering", based not only on the sun and beach, rather touching on the "territory’s entire potential, the wealth and heritage".

Luís Montenegro gave a speech this afternoon at the closing session of the 7th Portuguese Tourism Summit, hosted by the Portuguese Tourism Confederation.

Tourism is a gateway to the future

Luís Montenegro referred to the many compliments received during his trip to New York to attend the General Assembly of the United Nations from the entrepreneurs and visitors who were "charmed" by Portugal.

The Prime Minister used the moment to highlight the value of the "brand Portugal" and "destination Portugal" for the "US citizens, Portuguese emigrants and Portuguese descendants", also noting he feels this is "a dual sign of hope".

On the one hand, on the "growth of tourism in Portugal" yet also the country as "an example of excellence in the areas of the economy, science, and knowledge, innovation, and research".

"My vision of tourism is not just about tourism; tourism is important per si, but it is also a gateway, a showcase for the country’s capacity to stand claim in the context of other economic activities and that is a value I must note", claimed the Prime Minister.

Economic growth

Luís Montenegro mentioned the various Government means of assistance to "sustain growth" and "go further in infrastructure".

"We have been supporting measures to capitalize companies, investment grants, assistance to acquire equipment, benefits to requalify heritage, assistance to boost schools and hotels and enhance vocational training as a fundamental part of competitiveness", he stressed.

The Prime Minister also stressed the importance of TAP as a "fundamental element of the Portuguese economic, social, and touristic policy," claiming he will not forego these "strategic routes".

According to the Prime Minister, the Government does not replace the companies, it simply must "make life easier for them" and drive each entrepreneur, offering assistance in terms of "infrastructure, equipment, tax policy, licensing policies", and "labour policies".

"Our obligation is not to create obstacles, it is instead to create an ecosystem where all this can converge towards enhancing our companies, in all areas, including local accommodation", Luís Montenegro reiterated.

Lowering taxes

The Prime Minister also noted in his speech the cuts in income tax and corporate income tax and the implementation of the RRF as "fundamental economic policy instruments" for the country "to be more competitive", also stressing  their importance to bring in "more people available to work in Portugal" and "further investment for companies".

"I don’t think about corporate income tax for revenue so that companies can generate wealth to pay better wages and be more available to invest", Luís Montenegro said, adding that it is necessary to lower companies’ tax burden" so there can be "more investment" and "for us to be more competitive".

Still on taxes, Luís Montenegro stressed the importance of cutting taxes on individual income as a "condition for a more productive country" and to "retain talent", especially among the younger and highly qualified individuals.

"I believe that if we do all of this, we can have a more competitive economy that is more vibrant, with companies growing and paying better wages and also being able to make part of their revenue and profits available for re-investing", the Prime Minister concluded.