EVENT | Portuguese Chamber of Commerce Property Conference 2012
Residential Tourism – The future strategy
Report by Mary Wilson Dra Cecilia Meireles
This was the 8th annual property conference and the second to take place at the Pestana Chelsea Bridge Hotel in south west London . The event was sponsored by Banco Santander Totta and Banco Espirito Santo . Speakers included Dra . Cecilia Meireles , Portugal ’ s Secretary of State for Tourism – quite a coup for the Chamber as this was the first time a government minister has attended , Diogo Gaspar Ferreira – chairman of the Portuguese Resort Association and William Cunningham , a former tax partner with Arthur Andersen , who spoke about the role of taxation policy in competing for residential tourism .
The conference was opened by his Excellency , João de Vallera , the Ambassador of Portugal in the UK and Honorary President of the Portuguese Chamber . He spoke positively that 2011 had been a good year for tourism with a 7 % increase in revenue and 12 % increase in British visitors and confirmed that the government ’ s stabilising programme was totally on track . “ We have good signs of recovery and readjustment in the private sectors with an increase of exports by 13.5 % in January this year alone ” he said . “ The reduction in bond interest rates is a positive response to how we are tackling the restructuring of our economy ”.
The Conference chairman , Dr . Jorge de Abreu of Abreu & Marques e Associados , was also optimistic , explaining that in spite of the current economic crisis , Portugal is still very appealing to visitors all around the world , substantiated by an increase in residential tourism . “ Having the Secretary of State at the conference for the first time shows how attitudes are changing in the Portuguese Government , which is now trying to serve its citizens , rather than the other way round ” he said .
Dra . Cecilia Meireles spoke persuasively about how residential tourism is the new lifestyle for overseas travellers . “ Purchasers are looking for lifestyle or are motivated by a particular hobby , golf or sailing , for example ” she said . “ They also look for investment in the long term , further use after retirement and are attracted to a familiar destination , where they usually spent several holidays . Portugal is all about this and the Government naturally recognises tourism as one of the most profitable activities of our economy ... and Portugal is working and advancing in becoming a premium tourism and real estate location ”.
Dra . Meireles also talked about the government working to develop a competitive and stable tax regime for foreigners wishing to purchase a property in the country to settle or reside in it most of the year . “ The Government will launch a specific campaign to attract foreign investment related with capital transfer and stable acquisition of real estate by granting residence permits ” she said .
60 | Summer 2012 | www . portugal-life . net |