And here is the news…!

Well, reading the newspapers there are four big stories in connection with Portugal this week…and far and away the most worrisome are the financial and political crises, a solution to which would seem to be closely linked.

Markets have long seen Portugal going the route of Ireland and Greece with a request for a bailout from the EU almost a certainty. Prime Minister Jose Socrates has said that the rejection of his latest set of austerity measures by the opposition - this even though European leaders praised them - is making matters worse and has threatened to resign if they don’t accept them. If he does resign, it will be interesting to see how a follow-on government copes with this problem…

Then of course there is the good news: two lots of British Royalty will make their presence felt in Portugal!

The Prince of Wales and The Duchess of Cornwall are to undertake an official visit to Portugal (as well as Spain and Morocco) from 28 March to 6 April 2011. The tour will start in Lisbon where, among other things, the Prince and The Duchess will celebrate the long-standing relationship between the Portuguese and the British Navies. Historically Portugal is Britain’s oldest ally, an alliance that has lasted for no less than six centuries.

Then the country is to be honoured by that ‘King of the West End’, Andrew Lloyd Webber – or at least his music!

Evidently the national tourist agency has announced that it is to book what it calls a “succession of popular British entertainment shows and acts” in order to attract British tourists to the Algarve. This will include The Phantom of the Opera, Evita and Jesus Christ Superstar plus a British band, a British jazz singer and electronic trip-hop musicians from Manchester. This entertainment scheme, called Allgarve Nations, will evidently highlight the culture of a different nation annually, with the UK first on the list. This in an endeavor to attract tourists - I don’t know about you, but frankly, if I wanted to see British theatre I would see it in the UK. As a tourist I would prefer to se something local – or maybe that’s just me?

Anyway, what may well attract more tourists is that the budget airline, Jet2, will be adding new routes to and from Faro to airports in the UK. This summer, travellers in the north of the country will have easy, inexpensive access to the Algarve for the first time, with low-cost carrier Jet2 launching services from seven northern UK destinations including direct flights from Blackpool, East Midlands, Edinburgh, Glasgow, Manchester and Newcastle. Flights start from as low as €39, which should certainly encourage more tourists to visit as well as making the UK easier to visit for the many expats who now live in Portugal.

Property professionals in Portugal are also hoping that this will help to resuscitate the local property market, which has suffered badly in the recent depression. Hopefully, with accessibility being of primary importance, this will encourage investors who want to buy second homes and let them to holidaymakers, and indeed encourage holiday makers to visit the area. Certainly if you are thinking of buying property in the area it is good news, both as a visitor and indeed if you are planning on letting out your property.

How are your plans coming along – are you still thinking of buying in Portugal?

Best wishes for the week and warm greetings,

Carol.
The Overseas Guides Company
http://www.Portugalbuyingguide.com