Why Porto Could Become the “New Monaco”

In addition to being an exciting and vibrant region, entrepreneurs in nautical tourism believe that Porto and the Douro River could be the “new Monaco” of Europe. Here is why.

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Invictus Cruises, a nautical tourism company created during the pandemic, is the representative in Portugal of the brand Invictus Yacht and has just invested €1.5 million in a unique boat to sail in the Douro. This vessel can take 12 passengers and offers a range of tour packages as it aims to appeal to the growing market for luxury tourism. 

But what is attracting them?

• Sunshine 

The first and most obvious element is the sunny weather. At the bottom of Europe, Portugal has it to spare. It is one of the sunniest destinations in Europe, making it one of the most popular places for sun-seekers in the world. 

• A safe location 

Portugal is seen as a safe destination, increasingly better prepared to receive post-pandemic customers. The economy is thriving, with a secure, open and transparent political system. Investors can put their money into a property safely, knowing it is not unlikely to be threatened.

• Lifestyle 

With its tranquil atmosphere, unique gastronomy and rich heritage, Porto is a magnet for holidaymakers and prospective second homeowners. Unlike the Algarve, the region of Porto has a more up-and-coming and exclusive vibe, which proves to be popular with wealthy investors.

• The Douro River 

Portugal has miles of Atlantic coastline. Although beautiful, the ocean can be volatile and challenging to navigate. The Douro River offers stunning scenery and more sheltered waters, perfect for luxury marinas. As a result, investment is coming into the region, bringing the prospect of hundreds more boats and jobs into the area. 

• Growing demand

The Douro River is also gaining a reputation as an incubator for premium boat brands. It means it is no longer necessary to go to the Algarve or Lisbon to get your hands on boats. Its growing infrastructure is attracting interest across the globe, especially in the USA, Canada and the UK, with a sizeable demand also coming from Europe, especially Germany and the Netherlands. Additionally, the internal market is becoming increasingly important, with the Portuguese taking an interest in nautical tourism.

• Prospects for growth 

Portugal has been one of the economic success stories of recent times in Europe. Whilst it suffered during the pandemic like everyone else, the fundamentals remain strong, which shows it is well-positioned to achieve steady growth. Moreover, Porto has been attracting increasing attention. Its diverse economy is drawing entrepreneurs from all over the world. A more laidback business environment and a warm welcome from the government make it an appealing destination for rising tech start-ups. 

Therefore, Porto has everything it needs to become the new Monaco. It has the economy, the lifestyle, the weather and the demand to be one of the most exciting destinations in Europe for foreign property investors. 

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