Study Framework
Study Framework Nearshore sector in Portugal has seen significant development in recent years. Demography Talent NEARSHORE PORTUGAL - Tendências na gestão de talento According to a recent study by the international real estate group Savills, Portugal has managed to attract more and more interest from foreign investors, who hope to establish their businesses in a shared services center/Nearshore here. By 2021, Portuguese Agency for Commerce and Investment (AICEP) indicated that 175 BSC's/Nearshore companies were currently operating in Portugal, most of them based in Lisbon (111) and Porto (56). In addition to the two big regions, other cities such as Braga (9) and Aveiro (5) have also managed to attract some interest from this business. Among the reasons for the increasing number of Service Centers/Nearshore established referred in that report are the recognition of Portuguese workforce skills, the quality of educational institutions (universities), the peaceful political climate, as well as the growing investment in digital services. (AICEP, 2022). Population 10.344.802 (censos 2021) GDP Growth 4.9% (censos 2021) Unemployment rate 6.3% (censos 2021) Inflation 2.8% Students in Higher Education 411.995 (2020 | 2021) Graduates 87.733 (2019 | 2020) STEM Areas 23% Foreign Students Aprox. 55.000 (dezembro 2021) (2020 | 2021) 8 Fonte: AICEP, 2021 Universities 288 (2021)
Study Framework NEARSHORE PORTUGAL - Tendências na gestão de talento The main activities represented among this sector are: • Shared Service Center / Global Business Service Center • IT Service Center • Competence Center • Business Process Outsourcing Center Portugal is today a preferred location for several multinational companies to establish Service Centers. There are several successful case studies that attract the attention of other companies in the process of choosing a location for their operations. The most important factor when choosing Portugal is the qualified workforce talent available at competitive costs. According to many companies, cost is, among others, an important criterion when evaluating locations for a service center. Combined with other aspects, the availability of highly qualified people from reputable universities with good language skills are key factors making Portugal a top performer when comparing different locations. Geographical location - bridging Europe and the US - and a convenient time zone compatible with regions on both sides of the Atlantic are also important for multinationals with global operations. A peaceful country, with a pleasant climate and good quality of life, also attracts foreign talent — an important aspect for recruitment processes — and this also gives value to Portugal's attractiveness. Good infrastructures, namely on which regards to communication services, were identified as an important aspect once it is particularly relevant for centers with large activity and people working from different locations. Portuguese people hospitality towards foreigners, combined with their commitment to provide quality services, was also referred as a decisive factor. 9
