Are you looking to conduct business in Portugal but unable to decide which city is better for your business? The two dynamic and vibrant cities of Lisbon and Porto come to the top of the list in Portugal to start a business. These two cities have all top-notch business facilities. It has historic architecture. Lisbon and Porto provide you with new partnerships to expand your company’s reach. These cities also offer you the perfect blend of old-world charm and modern innovation. It helps to take your business to the next level. In the end, the same question arises among these two cities, which one is better for your business? In this article, you will further learn about the facts and figures which will make you decide which city is better for the establishment of your business.
Comparison of Lisbon and Porto for business
These two cities are the largest in Portugal. Lisbon and Porto are the two economic centers in the country. There are certain similarities between these two cities concerning the business environment. On the other hand, there are some notable differences as well.
There are some factors to consider when comparing business in Lisbon and Porto. These factors are given below:
• Location and connectivity
Lisbon is the western part of the country. It is along with the Atlantic Ocean and is the capital city of Portugal. It serves as an economic and cultural center of the country. Moreover, Lisbon has a large port. This port makes it an important hub for trade between Europe and other parts of the country.
On the other hand, Porto is present in the northern part of Portugal. It is present along the Douro River. Porto is the second largest city in Portugal. It is well known for its historic center, which is designated a UNESCO world heritage site.
Both cities have good connectivity with the international airports. It provides regular flights to major Europe and other global cities. The last decision will be yours, which will depend upon your specific needs and goals of the business. Our team can help you to make this decision because Innovate360 knows how to turn your business dreams into a reality.
• Industry
Lisbon and Porto have thriving business industries. Along with similarities, there are some notable differences between these two cities that you need to consider before starting your business. There is a diverse range of industries in Lisbon including tourism, finance, technology, and creative industries. It is also home to many international companies. There is a strong startup scene with several accelerator programs and co-working spaces.
On the other hand, Porto is famous for its port wine production. It has also become a hub for technology start-ups. There are also several co-working spaces and incubators.
All in all, Lisbon can offer more opportunities for business across a range of industries. Porto has only a concentrated focus on the tech industry.
• Cost of living
The cost of living in Lisbon and Porto varies with the location. It depends upon the place in which you want to locate yourself for the business. Generally, Lisbon is a more expensive city than Porto. There is research by Numbeo on the cost of living database. According to it, the cost of living index in Lisbon is 51.9% higher than in Porto. For example, the cost of renting an apartment in Porto is lower than the cost of renting in Lisbon.
There is a variety of dining options in both Lisbon and Porto. The cost of a meal in Lisbon is €50 while the cost of the same meal in Porto is €40 in a mid-range restaurant. Moreover, the cost of public transportation is also higher in Lisbon than in Porto. The cost of living can also vary depending on the lifestyle and circumstances. Furthermore, you can get the services of Innovate360 to seek more guidance.
