Portugal becomes the “Central Place in the World” for Business Services, according to IT companies
According to a brochure about Portugal as an investment destination published recently in the magazine Site Selection with two foreign companies located in Portugal, the country has become a bridge to the European market for many companies, including technological firms that recognize Portugal as a leading digital connectivity gateway.
This is the case for Beyond Gravity, Switzerland’s largest aerospace company, and Colt Technology Services, a UK-based telecommunications technology company, which chose Portugal to expand their business services.
Site Selection interviewed the leaders of these two companies to understand why they chose Portugal. Both emphasized that Portugal has a high-quality talent, which is crucial for their growth. For Beyond Gravity, Lisbon’s strong technical university landscape ensures a steady pipeline of talent, while Colt Technology Services believes that the cost of living, weather, security, and proximity to the sea are critical factors in attracting young foreign talent.
In fact, Colt Technology Services invested over $120 million in Portugal’s digital infrastructure and data center ecosystem from 2001 to 2023. Among the projects Colt is involved in is the Sines DC project, a 1.2 GW campus developed by Start Campus in the ZILS – Sines Industrial and Logistic Zone. Colt believes that Portugal has a favorable ecosystem for StartUps and Innovation. By hosting major global events such as Web Summit, Portugal has established itself as an excellent venue for similar events, positioning the country as a “central place in the world”.
Read the full article here
Source: Site Selection
Image: Site Selection brochure
