- Investment in Portugal continues to grow, standing 14% above pre-pandemic levels.
- Compliance with new regulations and logistical challenges are the main barriers to business activity.
- Financial constraints are increasing, with more Portuguese companies facing financing restrictions above the EU average.
- Regulation and bureaucracy hinder investment, posing greater obstacles in Portugal than in the rest of Europe.
Investment in Portugal is nearly 14% above pre-pandemic levels in real terms, continuing to grow despite some volatility in the first half of 2024. The percentage of companies planning to increase investment remains stable (20%) and above the EU average.
The EIB Group Investment Survey (EIBIS), is an annual report based on polling of approximately 13,000 companies across all EU member states, with an additional sample from the United States. Its main results released in October, indicate, among other findings, that many businesses in EU remain optimistic about investment over the past three years.
The detailed country reports are available today, with key takeaways for Portugal including:
- Regulatory and logistical challenges weigh on Portuguese businesses – Compliance with new regulations, standards, and certifications, as well as logistical challenges, are the main obstacles to business activity. Compared to EU companies, Portuguese businesses express greater concern over access to raw materials and components.
- Financial constraints are increasing and exceed the EU average – The percentage of Portuguese companies struggling to access financing has risen significantly and is now above the European average, due to loan rejections, difficulties in securing sufficient financing, and high credit costs.
- Key barriers to investment – Portuguese companies identify the main obstacles to expansion as uncertainty about the future, lack of skilled labor, regulation, and energy costs. Bureaucracy and business regulations remain more significant challenges in Portugal than in the rest of the EU.
"Portugal's strong investment performance, despite financial and regulatory pressures, demonstrates the resilience of its businesses”, said EIB Chief Economist Debora Revoltella. "While compliance costs, bureaucracy, and financing difficulties remain key challenges, Portuguese companies continue to adapt and innovate. As the EU bank, the EIB will continue to support investments that enhance resilience, sustainability, and long-term growth."
The full country report about Portugal is available here.
Survey results feed into the annual Investment Report, the flagship publication of the EIB Group’s Economics Department, gauging the investment outlook for Europe’s economy. The next Investment Report will be released on 5 March 2025 during the annual EIB Group Forum in Luxembourg.
The annual Forum brings together key stakeholders from the government, business and finance domains to exchange views on investment priorities that support Europe's policies, including industrial decarbonisation, artificial intelligence, the Capital Markets Union, security, housing and EU enlargement. The theme of this year’s event is Investing in a more sustainable and secure Europe.
Background information
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.
The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.
In 2024, the EIB Group reached a funding volume of €2.1 billion in Portugal, focusing on energy transition and support for SMEs and midcaps, the backbone of the Portuguese economy.