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Why Portugal Should Be Your Next Move: A Snapshot for Aspiring Expats

For those looking to relocate, Portugal offers an unparalleled combination of affordability, safety, and cultural vibrancy. With direct flights from major U.S. cities, a thriving expat community, and a strong focus on quality of life, the country presents an excellent alternative to more expensive destinations like...

19 Feb 2025 3 min reading

Why Portugal Should Be Your Next Move: A Snapshot for Aspiring Expats
Portugal, long celebrated for its sunny climate, breathtaking landscapes, and rich cultural heritage, is rapidly gaining traction among expats seeking a better quality of life. Ranked as the second-best country in the world by CNTraveler's 2024 Readers' Choice Awards, it combines old-world charm with modern convenience, making it an irresistible destination for those considering a move abroad.
But what does it mean to live—and thrive—financially in Portugal? Here’s a quick overview to inspire expats contemplating their next big move.
Affordability Meets High Quality of Life
Compared to other European and global destinations, Portugal boasts one of the lowest costs of living. Monthly expenses for a single person average just $592 (excluding rent), far below the $1,166 in the U.S. or $1,200 in France. Housing is another area where Portugal outshines its peers. For example, renting an apartment in Lisbon costs around $1,500 per month, while a comparable apartment in New York City would demand $4,000—a staggering 164% difference.
Beyond the numbers, Portugal offers a high quality of life. Lisbon, the capital, frequently ranks among the most livable cities globally, praised for its safety, vibrant culture, and affordable healthcare. The Global Peace Index regularly places Portugal in its top ten for low crime rates and political stability, while Mercer’s 2024 Quality of Living Report ranks Lisbon 27th out of 241 global cities for expats.
Opportunities for Expats and Wealth Builders
Portugal has become a magnet for expats, with one million foreigners making up 10% of its population in 2023. This trend is not limited to middle-income movers; high-net-worth individuals are increasingly calling Portugal home. In 2024, the country welcomed eight hundred new millionaires and was ranked as the ninth most popular destination for wealthy expatriates.
This influx of investment has fueled a 45% increase in household wealth since 2019, driven largely by rising property values. The Algarve, known for its stunning coastline, and Lisbon are particularly attractive for affluent residents, offering luxurious living at a fraction of the cost compared to other global hotspots.
Why Choose Portugal?
For those looking to relocate, Portugal offers an unparalleled combination of affordability, safety, and cultural vibrancy. With direct flights from major U.S. cities, a thriving expat community, and a strong focus on quality of life, the country presents an excellent alternative to more expensive destinations like France, Italy, or the U.K.
Whether you are drawn by the sunny beaches, the vibrant cities, or the opportunity to stretch your wealth further, Portugal stands out as a beacon of modern European living. For expats seeking a balance between cost efficiency and life satisfaction, there is no better time to consider Portugal as your next home.
Ready to make the leap? The welcoming warmth of Portugal awaits!

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