When I left the capital, the foreign investment boom was accelerating: construction works spreading across the city and the streets buzzed with an increasing number of international voices. These memories heightened my anticipation to learn how Portugal’s investment landscape has evolved since then.

1. Portugal’s rising appeal

Portugal has steadily positioned itself as a key destination for international investment since the turn of this century. The country’s strategic location lies between Europe, Africa, and the Americas, making it a natural gateway for global trade. Once Europe’s “best kept secret” as stated by Pedro Fontainhas, Managing Director of Portugal’s Residential Tourism and Resorts Association (APR), there has been a monumental advancement in the country’s development over the last twenty years.

International organisations like AICEP (Portugal’s trade and investment agency) have been instrumental in fostering trade relations and attracting foreign direct investment (FDI). Export growth has been a key metric in Portugal’s economic development along with an openness to global business, with the OECD ranking it the second most open country for FDI in 2020 among 68 OECD nations. Notable trade links include strong partnerships with Belgium, Portugal’s 8^th largest client and supplier for goods and services and the 12^th largest direct investor.

A leader in renewable energy, the country produces over 70% of its electricity from renewable sources, according to 2023 AICEP statistic. Portugal’s competitive edge extends to its thriving startup ecosystem, which boasts over 4,000 startups (70% created in the last five years), five tech unicorns, and 150+ incubators and accelerators. These attributes, coupled with an educated workforce (#25 IMD world rating) ranking highly in language and business skills, makes the country an innovation hub.

2. Fostering investor confidence

Portugal has made significant strides in cultivating a desirable investment environment. Caixa Geral de Depósitos plays a pivotal role in supporting businesses and investors. Since 2016, the institution has consistently increased its net income, reaching €1,369 million in Q4 2024 — a 38.7% surge from €987 million in Q4 2023 — driven by strong capital gains and growing client trust. CGD’s international presence, including branches in Belgium and France, facilitates cross-border business connections, particularly between Europe and Portuguese-speaking nations such as Brazil, Angola, and Mozambique.

During the panel discussion at the event, investment representatives emphasised the importance of aligning investors with trusted institutions and offering a “soft landing” approach to ensure smooth transitions. The Madeira region stands out as an attractive destination, offering high incentive tax systems, including a reduced international tax rate of just 5% for foreign companies, pointed out Kathleen Figueiredo Lassy, Head of Madeira Office in Brussels. Moreover, its growing reputation as a digital nomad haven enhances its appeal, fostering a vibrant environment for entrepreneurial activity. The Azores islands are currently developing an investor guide to showcase opportunity.

3. Advantages of living and investing in Portugal

Beyond economic opportunities, Portugal offers an enviable quality of life. With 300 days of sunshine annually in most regions, a rich cultural heritage, and white sand beaches, it’s no wonder the country has become a prime destination for residential tourism. Affordable living costs — approximately 13% cheaper than Brussels — and robust infrastructure, including international-standard healthcare and six international airports, further enhance its attractiveness.

For those seeking investment opportunities, the real estate sector is particularly enticing. Prices in regions like the Algarve are rising at a steady rate of 8% annually, while tax incentives such as the non-habitual resident (NHR) regime offer significant benefits to foreign investors and retirees. Properties can also be monetised through tourist rentals, providing a steady income stream.

Legal frameworks for foreign investment are straightforward. Portugal imposes no restrictions on foreign ownership, allows free transfer of profits and dividends, and provides a simplified process for setting up local branches of international companies. For real estate purchases, acquiring a taxpayer number (NIF) and a Portuguese bank account are the main prerequisites.

4. A gateway to the future

From picturesque landscapes to forward-thinking policies, Portugal offers more than just a promising investment destination — it provides a lifestyle embedded with enjoyment, culture, and opportunity. The country’s ability to attract and retain international interest, even amid global economic challenges, demonstrates its resilience and adaptability.

As I reflected on the conversations at the event, one thing became clear: the ship hasn’t yet sailed for Portugal. There are regions still to make their mark and whether through green energy initiatives, innovative entrepreneurship, or thriving real estate market, the nation will continue to draw investors and residents alike, making Portugal a destination where ambition and quality of life can converge.

L’article Portuguese bank promotes country’s ideal balance of growth and quality of life in Brussels est apparu en premier sur Travel Tomorrow.

But first, let’s understand a bit more about where astrology came from. It originated in the second millennium BC when the Babylonians created the first organised system. It was considered a scholarly tradition until the 17^th century, and even figures like Carl Jung, a Swiss psychiatrist and psychotherapist, incorporated astrology in his work. While modern science disputes astrology’s reliability, its popularity persists, particularly among young people. The tradition has evolved, offering a lens for self-understanding despite scepticism.

Social media platforms like Instagram have played a role in the return of astrology through educational, relatable and often comical content, making the long lost divinatory practice more accessible and applicable in the modern world. The appeal of this ancient celestial study lies in the sense of control it offers, despite scepticism from the scientific community. Astrology serves as a way for individuals to seek meaning and direction in an unpredictable environment, which couldn’t be more relevant in the world’s current state.

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Suppose the stresses and strains of life point you toward a much-needed break, or perhaps you just want something to look forward to. In that case, travel astrology, also known as astrocartography, can show you which locations are the best to scout based on your astrological birth chart.

The birth chart, also known as the natal chart, shows an individual’s life blueprint based on the date, time and place of birth in correlation to where the sun, the moon and the planets in our solar system were stationed directly overhead. The birth chart is then pinned against the world map and lines are drawn representing the planetary placements at the moment of birth. Whichever places the lines either cross or intersect will bring significant experiences for you. To uncover the nature of the experience, you look at which planet the line corresponds to and look at what that planet represents to understand what may be in store for you. For example, the Moon represents our inner world, feelings and what we need to feel comfortable, so if you’re in a confused state and want to get more in-touch with yourself away from habitual routine, looking at the Moon line will indicate places where it’ll be easier to you to gain self-insight and find clarity.

You can also use travel astrology to assess relocation possibilities where looking at the Sun, Venus and Jupiter lines as these planets collectively represent feeling good, supported and the ease to be your most natural self. If you’re looking for a destination specifically to find work or begin a new career, then the Mars line can be consulted as it represents energy, drive and assertiveness, as well as the North Node line as it’s linked to evolution, growth and destiny.

You can generate your travel astrology chart for free by entering your birth details here. It’s important that the time of birth is precise to the minute as even a few minutes difference can change important aspects of the chart.

Once you have entered your data, you’ll be prompted to create a free account to access your chart. On the following page, under “Stored Astro Data” click your name and you’ll be taken to a list of different types of charts and horoscopes, scroll to the bottom and under the “Special” section, click ‘AstroClick Travel’ to view your chart.

It might be overwhelming at first to see all the lines but if you click on each one, on the right side of your screen a description will come up explaining what the line represents. The little circles on each line indicate the “hotspot” of the line, and although some of them may be off-the-beaten-track locations or perhaps in the middle of an ocean, don’t be phased, as any place along the line is just relevant to the theme of the line.

To give an example, I went on a work trip to Kazakhstan in 2021, when I look at my chart, there is a Mars line (red) that goes right through the capital Astana. Then, there is an intersection with a Moon line (dark blue) which can imply meaningful connections with others. I was covering the Kazakh elections which included interviews with young civilians on what was important to them. Lastly, a Jupiter line intersects, which represents luck and good times. I thought at the time how lucky I was to have had this opportunity to travel and exchange with people during the Covid pandemic, and I often think back fondly on the whole experience, the memories I made there will last a lifetime.

While the website offers overview descriptions of the lines, it may be difficult to fully understand the indications without a pre-existing awareness of astrology.

While travel astrology can offer fascinating insights into destinations that align with your personal astrology, view it as a tool in your travel decision-making process rather than a strict map. Considering your existing travel goals, budget, and logistical needs, these astrological insights can provide fresh inspiration for creating a well-rounded travel plan. By blending intuitive preferences with Astrocartography’s suggestions, you can discover locations that resonate with your unique personality and create truly meaningful travel experiences as a result.

L’article How to find the best travel destination according to astrology est apparu en premier sur Travel Tomorrow.

Known as the “sunshine state”, Florida has established an image as a more “free” part of the US, receiving many LGBTQ+ tourists from across the country. St. Petersburg, Fort Lauderdale, Key West and Wilton Manors are among the most popular destinations, and Visit Florida has featured several blog posts and videos about the state’s LGBTQ-friendly offerings, such as pride events, road trip suggestions and beaches.

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Previously, the LGBTQ Travel section was headlined: “There’s a sense of freedom to Florida’s beaches, the warm weather and the myriad activities — a draw for people of all orientations, but especially appealing to a gay community looking for a sense of belonging and acceptance.”

“It’s just disgusting to see this,” said Keith Blackburn, CEO at Greater Fort Lauderdale LGBT Chamber of Commerce. “They seem to want to erase us.” He went on to say that signs of anti-LGBTQ+ policies from the state’s capital, Tallahassee, makes promoting tourism in South Florida more challenging when faced with potential travel promoters and visitors who express reluctance in seeking business ventures in the state.

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Florida’s governor, Ron DeSantis has advocated in the past for a bill that prohibits teaching about sexual orientation and gender identity in classrooms, backed a ban on gender-affirming care for minors, and supported legislation aimed at preventing children from attending drag shows.

Tourism is a major export in Florida, as one of the most popular destinations in the United States. In 2023, almost 141 million tourists visited the state, bringing in over $102 billion to Florida’s economy. Despite the LGBTQ fury, DeSantis declared on 15 August that Florida’s tourism figures for Q2 of 2024 were at a record high. Dana Young, Visit Florida’s CEO and president, commented in a follow up press release that the figures were partly due to the state’s policy focus on freedom.

L’article Florida official tourism agency deletes LGBTQ visitor page est apparu en premier sur Travel Tomorrow.

The venue is being remodelled and upgraded, having suffered from wear and tear due to a lack of maintenance following its closure. It scales 6,500m² with the main room spanning the same size as an airplane hangar. Previously having a capacity for 10,000, this superclub will now accommodate an additional 5,000 people. Reports state that the restoration is largely supported by the Spanish government who have injected €8 million into the club’s repair.

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The venue boasts a star studded history, receiving names such as Madonna, Tina Turner, Freddie Mercury and David Bowie in its time. Queen and Montserrat Caballe even shot the music video for their track “Barcelona” there. It was founded in the early 1970’s and sold to Spanish footballer Jose Antonio Santamaria in 1979 where it was renamed to Ku and became well known as a gay club. The nightclub changed hands again in 1995 when it became “Privilege”, and partied on until the 2020 lockdown put dancing to an end.

Now, it will reopen under the name of “UNVRS”, fully owned by Abel Matutes and managed by Ushuaïa Entertainment and The Night League (TNL). The project comes as a new pursuit, following in the footsteps of Hï Ibiza and Ushuaïa, another Ibiza nightclub awarded among the world’s best. “We’re taking everything we’ve learned from creating Ushuaïa and Hï Ibiza and pushing the boundaries even further,” said Yann Pissenem, founder and CEO of The Night League, billboard.

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Actor and international entertainer Will Smith has reportedly been a contributing figure in the club’s relaunch. UNVRS, hailed as the world’s first “Hyperclub,” seeks to define its image through luxury and premium service, along with a first of its kind production style, led by Romain Pissenem, founder of High Scream, a London-based creative production studio. This concept aims to take the Ibiza nightlife to the next level.

“A Hyperclub is the next evolution in global nightlife,” said Pissenem. “Imagine seeing your favourite artists in a space that offers the best elements of a club, the infrastructure of an arena, and the best hospitality in the world. [UNVRS] is about attention to granular detail, from the finishes across the venue to the unique experiences our guests will never forget. It’s a space that retains the raw energy of a rave, connecting the present and future within the walls of stunning architecture.”

The opening is rumoured to be in summer 2025 but a set date is still to be established as refurbishment continues. One thing is for sure that the club’s iconic cage-style dome structure will remain in the plans.

L’article World’s biggest nightclub to open in Ibiza next year est apparu en premier sur Travel Tomorrow.

Venice has trialled a €5 day tripper charge this year, with the fee set to raise during the most popular days next year, and limited tourist groups maximum 25 people. The Amalfi coast introduced a filtering car system in 2022 to mitigate traffic congestion. And now, the overwhelming influx of visitors during the Ferragosto week has prompted new measures to handle the swell.

Rome residents may have bailed out for the #Ferragosto holiday but the centre is packed with tourists. Here is the Trevi Fountain at midday today. pic.twitter.com/lyXszl2MPl

— Wanted in Rome (@wantedinrome) August 13, 2022

Now, more destinations are taking action. Popular places for active holidays such as hiking in the mountainous region of Trentino have adopted the monitoring and even closing of popular trail routes when oversaturated with visitors. In major cities such as Rome and Florence, temporary traffic lights have been laid in pedestrian dense traffic areas to reduce blockages on the roads.

In Sardinia, fines of €500 started being imposed at several beaches for anyone using rocks to anchor beach umbrellas. Swimming at night, beach camping, bonfire and late-night music have also been banned in various communities across the island, while beachgoers have to reserve their spots on the sand through an app. Meanwhile, the island of Capri doubled its its usual landing fee on the busiest days.

Latest #Venice Ferragosto headline. We're full. 80k tourists in a place where the resident population just fell below. 50k. Unsustainable. pic.twitter.com/xa6BxFgpv8

— David Hewson (@david_hewson) August 14, 2022

Despite locals’ frustration, authorities are trying to reassure the public that they will adapt to the sudden expansion in travel. Although not agreeing with the term “overtourism”, calling it a “blasphemy”, Italy’s tourism minister Daniele Santache told La Nazione newspaper that “the problem is managing and governing [tourism] as we have started to do since we have been in government. We are also preparing the ground for future challenges, from Milan-Cortina [2026 Winter Olympics] to the Jubilee [a 2025 religious festival in Rome] which will be an opportunity to make lesser-known realities known, build diversified tourist offers and enhance our wonderful villages.”

The Ferragosto experience serves as a stark reminder of a new normal setting in for travel, emphasising the need for a delicate balance between sustainable levels of tourism while preserving a quality experience for all.

L’article National holiday ushers in new overtourism measures across Italy est apparu en premier sur Travel Tomorrow.

“By fiscal year 2028, we are forecasting nearly triple the fiscal year 2023 number of authorised operations due to greater use of reusable vehicles, the demand for commercial satellite services and the growth of commercial human spaceflight missions,” Kelvin B. Coleman, the FAA’s associate administrator for Commercial Space Transportation wrote in a blog post. Predictions currently project that there could be 338 private launches by 2028, more than double compared to the 156 anticipated for this fiscal year and more than triple the 106 from 2023.

1. The rise of space tourism

Space tourism, once a distant dream, is now within reach for an expanding segment of the population. The FAA report highlights the increasing number of commercial spaceports being developed, which are essential for supporting the anticipated rise in launches. These spaceports are not just for scientific missions but are also becoming hubs for space tourism companies offering once-in-a-lifetime experiences to civilians.

The experience of travelling to space, however, is far from the luxury vacations found on Earth. According to accounts from early space tourists, the journey is marked by rigorous physical preparation and the psychological challenge of leaving the planet. “Looking back on our planet, I felt this deeper connection to love,” an early space tourist recounted, “I did not feel myself as an individual. I could actually see and feel everything that we are.”

2. Implications

Despite the challenges, the allure of space remains strong, with companies like SpaceX, Blue Origin, and Virgin Galactic leading the charge in making space more accessible. But, as the travel experience becomes more common, it raises new questions about the long-term effects of space travel on the human body and the ethical implications of space colonisation.

One of the most intriguing aspects of this discussion is the possibility of human conception in space. Experts suggest that within the next decade, we could witness the first instances of sex in space, followed by conception and childbirth. This development, while fascinating, presents significant challenges. The human body is adapted to Earth’s gravity, and the microgravity conditions in space could have unpredictable effects on reproduction and development. A key concern is the impact of microgravity on embryonic development. Research in this area is still in its infancy, but initial studies indicate potential risks, including ectopic pregnancies and contraception failure.

3. The future of private spaceflight

The next decade looks to bring profound changes in space exploration – not just in how we travel to space, but in how we live in it. The challenges are immense, but so too are the possibilities. With the right balance of innovation, regulation, and ethical consideration, the once futuristic dream of space travel is becoming a reality.

L’article Private space launches could more than double by 2028 est apparu en premier sur Travel Tomorrow.

Traditionally, it is believed that the pyramids, including the Great Pyramid of Giza, were built using a combination of sleds, ramps, and sheer manpower. These methods, while effective, have long been questioned due to the incredible size and weight of the stones used. The researchers propose that the builders may have employed a hydraulic lift system, which allowed them to move the massive stone blocks with greater ease. This theory is supported by evidence of water channels and basins found near pyramid construction sites, which could have been integral to such a system.

“This work opens a new line of research: the use of hydraulic force to erect the massive structures built by Pharaohs,” the researchers explained. “We have uncovered a possible explanation for how the pyramids were built involving hydraulic force.”

The theory has gained traction due to its alignment with the known environmental conditions of ancient Egypt. The Sahara Desert’s more frequent rainfall and occasional flooding throughout the region would have provided a consistent and reliable power source for such a system.

“The theorised water treatment system would not only allow for water control during flood events but also would have ensured adequate water quality and quantity for both consumption and irrigation purposes and for transportation or construction,” said Dr. Guillaume Piton, co-author of the study and researcher at the INRAE institute.

While the hypothesis is compelling, it is not without its critics. Some experts argue that the evidence for hydraulic lift technology in ancient Egypt is more likely on a smaller construction scale. They point out that there is no direct archaeological evidence, such as remnants of hydraulic machinery or detailed records, to conclusively prove the theory.

Other archaeologists argue that even in times of a wetter climate, “the low rainfall would not be able to fill the structures to the extent needed for a hydraulic lift, and furthermore would not be able to keep up with the water loss within the structure’s limestone”, according to Dr. Fabian Welc, Archaeology Institute director at the Cardinal Stefan Wyszynski University in Warsaw, Poland. 

Despite the criticism, the study has garnered attention for its innovative approach to a centuries-old mystery. While traditional theories of pyramid construction remain dominant and the authors conclude that further research is required, this new study opens the door to new possibilities. Notably, suggesting that the Egyptians may have been far more advanced in their engineering capabilities than previously thought.

L’article Egyptian pyramids may have been built with hydraulic power, new study suggests est apparu en premier sur Travel Tomorrow.

The new facility, called Abusera Airport, is projected to handle up to 100 million passengers annually. This capacity would make it not only the largest in Africa but also one of the most significant aviation hubs worldwide. The scale of the project is comparable to some of the busiest airports globally, such as Dubai International Airport which currently accomodates the same figure.

As Ethiopian Airlines is the most lucrative African global airline, this decision comes as an opportunity to aid further growth of the country’s flagship air carrier. A revenue of $7 billion and seating of 17 million passengers was revealed last month for the year 2023-24, with the potential to generate much more. Currently, a major setback is that the airline’s current hub, Bole Addis Ababa International Airport, is reaching its capacity limits, prompting the need for expanded infrastructure.

The new airport will provide Ethiopian Airlines with the facilities necessary to continue its expansion and to compete with other major airlines in the region, so the airline has recently signed an agreement with Dar Al-Handasah Consultants, a partner with the world-renowned signature architects Zaha Hadid Architects, for the “design and supervision of a Mega Airport City at Abusera in Bishoftu city.”

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“”It is a five-year project (that) will be finalised in 2029. The first phase includes the construction of the airport facility with a capacity of 60 million passengers per year and the completion of phase two of the airport project will grow to handling more than 100 million passengers per year,” said Mesfin Tasew Bekele, CEO of Ethiopian Airlines Group.

Construction on the new airport is expected to begin soon, with the first phase expected to be in operation by 2029, however further specific timelines and budget details have not been fully disclosed. The project will likely involve significant international investment, given the scale and complexity of the undertaking.

By establishing Africa’s largest airport, Ethiopia not only seeks to address current aviation demands but also to position itself as a central player in the global aviation industry. The country has long been a crossroad for trade and travel, sitting between Africa, the Middle East, Europe, and Asia. The potential of this project could have far-reaching implications, potentially reshaping air travel patterns across the continent and beyond.

L’article Ethiopia to build Africa’s largest airport by 2029 est apparu en premier sur Travel Tomorrow.

Since the year began, the Norwegian kroner (NOK)/US Dollar (USD) comparison has dipped 5.85% whereas against the euro, the kroner has seen a decline of 4.84%. For a country known for its many outdoor adventure activities, the Norwegian tourist experience has suddenly become an accessible option for many more travellers.

Online sales are showing that the most popular endeavours sought by tourists are package holidays, with activities such as hiking, kayaking in the fjords and trips to view the Northern Lights during the winter. Following Norway’s increased investment in sustainable tourism, the country is attracting many eco-conscious travellers, creating a rise in demand for polar bear expeditions, whale and bird watching.

Norway’s travel and tourism market is expected to generate a revenue of $4,682 million (€4,291 million) in 2024, according to Statista. Furthermore, a 3.03% annual growth rate is predicted between 2024 and 2029, leading to a potential market value of $5,436 million (€4,977 million) by 2029.

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One of the reasons for the currency’s depreciation is largely due to its sensitivity towards oil and gas prices, particularly as a nation that depends significantly on these commodities. The demand for petrol is declining and oil industry share prices are losing value, which in turn is taking a toll on reliant countries such as Norway.

“The krone’s recent weakness is down to two main factors. The first one is a rapid deterioration in investor risk appetite, and the second one is quicker-than-expected falls in Norwegian inflation,” said Kyle Chapman, forex market analyst at Ballinger Group.

Given the recent fall, Norwegian authorities are upping tax rates on areas such as wealth and exit tax for billionaires looking to leave the country. It’s also rumoured that inheritance tax may be reintroduced.

L’article Norway’s tourism surges as kroner value drops est apparu en premier sur Travel Tomorrow.

The plan was the winner of a competition organised by the Seoul Metropolitan Government that tendered for a new design that would “challenge conventional notions of a luxury department store” and “affirm the country’s increasingly influential role as a global cultural powerhouse”.

The vision behind the crystalline aesthetic aims to revive the shopping centre’s significance in the South Korean capital, or as Heatherwick Studio notes, to “redefine the store’s connection to the local area”. The unique shape of the symmetrical buildings, featuring internally curving glass façades in an undulating pattern, aims to create defining views of the Han River along with becoming a backdrop for nighttime projections. The establishments will be supported by an exposed structural framework and divided in two by the big ground level crossroad, however connected underground by the metro which is also going to be updated.

“Traditionally, department stores are quite inward facing, they feel closed off to the surrounding streets. But here we have an important intersection in Apgujeong with two buildings, east and west, that felt like an opportunity to bring people together,” said Neil Hubbard, partner and group leader at Heatherwick Studio on the design. “Combined with Hanwha’s ambition to bring more activity to the buildings, we wanted to provide a strong overall silhouette that creates a gateway, but also gives Seoulites new garden-like spaces to meet, shop and enjoy their city.”

Upon entry, visitors will be met with a light-filled atria and landscaped plazas before opening out onto a middle level featuring cafes, restaurants and shops. At the top of the buildings, plant-filled rooftop gardens with views of the city will add a touch of green to the experience. Constructed with a “double-layered skin” to enhance sustainability, the buildings will also duplicate as a venue for art exhibitions and events.

This isn’t the only project Heatherwick Studio will be working on in Seoul, with plans in place to turn Nodeul Island into a public park with “floating islets”. The founder of Heatherwick Studio, Thomas Featherwick, was also recently appointed at the fifth edition of the Seoul Biennale of Architecture and Urbanism as general director. The architecture firm is also currently working on a similar project to the Hanwha Galleria in Colombia’s capital, Bogotá, featuring undulating columns in a variety of colours. 

L’article Seoul shopping centre to be transformed into rippled hourglasses est apparu en premier sur Travel Tomorrow.