Is Lisbon a tech hub by itself, or just an attraction for digital nomads?

 

Lisbon is quickly becoming one of the fastest-growing innovation hubs and a top destination for tech startups in the world. 

A city with a global perspective, is ranked as the 11th best city for digital nomads, while Portugal is ranked as the 10th best country in the world for foreigners overall.

As of 2022, the value of startups based in the Portuguese capital had increased by 26 times to a €21 billion. Interestingly, the country has launched more unicorns than Greece, Italy, and Spain put together.

Portuguese proficiency in English reached a global 9th position in 2023, reflecting widespread usage of the language. Moreover, the country have a high number of STEM graduates, even higher than the rest of the Europe­an Union. Additionally, Lisbon holds the 4th position among Europe's top startup cities, as per Startup Heatmap Europe rankings.

At the same time, based on data from ITA, this nation ranks se­cond in the European Union for the numbe­r of annual engineering graduate­s. Approximately 90,000 students achieve­ this achievement ye­arly.

The start-up accelerator Unicorn Factory Lisboa has supported over 460 start-ups, which have raised €410 million and created over 5,000 jobs.

Portugal is now the most affordable country in Europe to operate a business, according to the Atlantic Bridge. It attracts big companies like Google, Siemens, IKEA, and others because of its tech-savvy workforce and favorable tax conditions. These companies have set up tech centers in the Lisbon area in recent years.

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