The data center sector could contribute up to 26 billion euros to the national GDP and support around 50,000 jobs by 2030, a study by Copenhagen Economics in collaboration with Start Campus has concluded.
The study, “Assessment of the Socioeconomic Benefits of the Data Center Sector in Portugal,” released today, indicates that between 2022 and 2024, data centers have already contributed 311 million euros to the Portuguese GDP, supporting around 1,700 jobs annually.
The analysis also revealed that Portugal is well-positioned to become a hub for digital and Artificial Intelligence (AI) infrastructures in Europe, due to its competitive electricity costs and robust connectivity infrastructure.
Considering this scenario, the study, based on a macroeconomic model with data from Eurostat, OECD, and national operators, and including interviews with over 15 stakeholders in the digital ecosystem, estimates that the data center sector could generate up to 26 billion euros for the Portuguese economy by 2030.
Of this amount, approximately 9.2 billion euros are from direct effects, 8.6 billion euros from indirect effects, and 8.4 billion euros are “induced” through the sector’s development.
Additionally, it is projected that up to 50,000 full-time jobs could be supported annually, which includes direct, indirect, and induced employment, “if favorable investment and regulatory conditions exist.”
Identified areas of action to foster investments include ensuring predictability and access to the electricity grid, streamlining licensing processes for technological and energy infrastructures, and developing measures aimed at investing in data centers.
This study, conducted in partnership with Start Campus, which is developing a data center campus in Sines, also highlights that AI will drive sector development, estimating that by 2030 around 70% of computational capacity will be dedicated to AI applications.
Robert Dunn, CEO of Start Campus, stated in a release, “Portugal is uniquely positioned to assert itself as a leading digital and AI hub in Europe, with strategic connectivity, clean energy, and highly skilled professionals.”
Meanwhile, Bruno Basalisco, director at Copenhagen Economics, warned that “Portugal is emerging as a significant European destination for data center investments, but its potential is not guaranteed, given the intense international competition to host digital infrastructures.”
