War benefits Portuguese tourism sector

Published

1 year ago

November 23, 2022

Componentes automóveis: a luz ao fundo do túnel?

October’s Business Environment – Business Brief highlights the clear performance of goods and services in terms of international trade performance.

Portuguese merchandise exports are growing at a higher-than-expected nominal rate between January and September (annual growth rate, tvh, 25.6%, even more than the 18.3% recovery recorded for 2021 as a whole ; INE data and AEP calculations), given the difficult military situation in Europe.

If, in terms of the balance of trade, the war in Europe has benefited services (through tourism) and hurt goods, the effect may start to wane in 2023 if the economic downturn abroad reduces the influx of tourists to Portugal and/or the average cost per tourist to a complete reversal, when the desired end of the war comes, which, unfortunately, is no longer foreseen.

The contribution to this progression varies in terms of products (and related sectors), with a focus on fuels and mineral oils (84.7% hvr, contributing 5.1 percentage points, pp, to 25.6% of world exports). , Wood, cork, pulp and paper (33.8% and 2.5 p.p.), Chemical industry (41.4% and 2.5 p.p.), Metals (26.4% and 2.4 p.p.), machinery and equipment (15.9% and 2.3 p.p.), vegetable products and fats (31.4% and 2.1 p.p.), transport materials (13.7% and 1.8 p.p.) and plastics and rubber (20.2% and 1.6 p.p.), while only contributions above 1 p.p. are taken into account. product groups.

However, we should not forget that the import of goods in nominal terms increased even more (36.7% tvh compared to September, with a contribution of 13.5 percentage points from the Fuel and Oil Products group, where tvh amounted to 123.6%), ahead of a significant deterioration in the balance of trade in goods (deterioration of the deficit by 9.8 billion euros, million euros, to 22.6 thousand in 2021 as a whole).

According to the latest data from the Bank of Portugal, exports of services show even more nominal growth than goods (79% tvh between January and August), with travel and tourism (155.6%) being the dominant contributor. considering also its prevailing weight and higher dynamics than other rubrics, which have benefited from the image of Portugal as a safe destination, far from the place of war. However, in the case of services, imports have a lower value than exports, and growth was much lower (41.8% before August), which means that the surplus in the balance of services is increasing, which is contrary to the unfavorable evolution of goods.

It should also be noted that the dynamics of exports is noticeable even in real terms (at constant prices), without taking into account the impact of inflation, taking into account the most recent national accounts data, up to the 2nd quarter. World exports in volume terms increased by 18.6% year on year in the 1st half of the year as a whole, with variations of 10.2% for goods and 41.0% for services.

Envolvente Empresarial – Síntese de Conjuntura is a monthly publication with key data and indicators of economic activity developed jointly by AEP, AIP and CIP. It includes two reissues of the indicators, one for Portugal and one for the Eurozone.

Herb Adkins

Proud web evangelist. Travel ninja. Creator. Freelance food nerd. Passionate bacon fanatic.

Portuguese historical films will premiere on 29 December.

Published

1 year ago

December 20, 2022

Herb Adkins

Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets Ptix.bm For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

“Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

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Herb Adkins

Proud web evangelist. Travel ninja. Creator. Freelance food nerd. Passionate bacon fanatic.

CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS ‘There will be room’

Published

1 year ago

December 20, 2022

Herb Adkins

CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS 'There will be room'

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Herb Adkins

Proud web evangelist. Travel ninja. Creator. Freelance food nerd. Passionate bacon fanatic.

Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Published

1 year ago

December 19, 2022

Herb Adkins

Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

Herb Adkins

Proud web evangelist. Travel ninja. Creator. Freelance food nerd. Passionate bacon fanatic.