The ‘Business Climate Survey’ conducted in February and March, released in line with Sweden’s National Day, highlights increased optimism among Swedish businesses regarding the business climate in Portugal compared to 2023.
“Swedish companies are optimistic about Portugal’s economic progress, leading to a greater willingness to invest in the Portuguese market,” state the promoters in a statement, highlighting that more than half of Swedish companies (51%) plan to increase investment in Portugal by 2025, up from 41% in the 2023 survey.
This figure is notably high among companies that entered the Portuguese market after 2020, with 68% (two out of three) expecting to increase investment in the current year.
Additionally, 73% of the surveyed Swedish companies anticipate economic growth in their Portuguese operations, compared to 57% in 2023, with 76% having reported profitability in 2024, improving upon previous years’ performance.
Most Swedish companies participating in the survey entered Portugal post-2019, representing sectors ranging from pharmaceuticals to healthcare, fintech, digitalization, security, automotive, energy/electricity, business services, and consumer goods.
According to the Bank of Portugal data cited in the statement, Swedish company investments in Portugal have nearly doubled since 2019.
Key Swedish companies with a notable presence in Portugal include Securitas, IKEA, Diaverum, Essity, Ericsson, and Volvo Car Portugal. Recent investments highlighted include Corpower’s wave energy equipment installation in Viana do Castelo and Bolinden’s recent acquisition of the Neves-Corvo mine in Castro Verde.
The Swedish Ambassador to Portugal states in the release, “These results demonstrate that Swedish investment has been a reality in the country and will continue to be.”
“Swedish companies are optimistic about the performance of the Portuguese economy and will continue to invest and create jobs,” says Elizabeth Eklund, noting, “Portugal provides an attractive landscape for Swedish investment, combining clean energy, robust infrastructure, global connectivity, and a highly specialized workforce.”
Jennifer Ekström, president of the Luso-Swedish Chamber of Commerce, remarks, “Portugal stands out in Europe due to several factors: it has highly qualified professionals who are proficient in English, alongside a dynamic start-up ecosystem with numerous incubators and accelerators across the country, offering various sectoral incentives.”
The survey was sent to 99 out of approximately 120 active Swedish companies in Portugal, receiving 37 responses.
Almost half (46%) of the companies surveyed are large firms with over 1,000 global employees, 5% are medium-sized (250 to 1,000 global employees), and 49% are classified as small, with fewer than 250 employees worldwide.
The surveyed companies represent three major sectors: industrial firms (52%), professional services (37%), and consumer goods companies (11%).
Regarding their experience in the Portuguese market, 32% of the surveyed companies established operations in Portugal before 2003, 38% between 2004 and 2019, and 29% after 2019.
