Markets, Business & Tech Briefing — March 29, 2026

Markets & Economy

GDP FORECAST: DBRS maintains Portugal's 2026 GDP growth forecast at 2.1%, with 2027 projections improved to 1.8%. The ratings agency cites wage increases and tax cuts as growth drivers, though the Iran war and energy costs pose downside risks.

UNEMPLOYMENT: Portugal's unemployment rate fell to 5.6% in December 2025, according to INE statistics. The rate continues a multi-year downward trend from the 13.9% peak in 2014, though some economists warn that tight labor markets are contributing to wage-driven inflation.

TAX REVENUES: INE reports that Portugal's tax revenues are growing faster than GDP, driven by increases in income tax collection and VAT. Social Security expenditures also rose, particularly in parental benefits and elderly support supplements.

Property & Housing

KRISTIN DELAYS: €500 million in EU Recovery and Resilience Plan (PRR) infrastructure projects remain suspended due to storm reconstruction priorities. The delays affect road upgrades, public building renovations, and digital infrastructure projects across northern Portugal.

ALGARVE HOTEL: Lagos municipality declared the building permit for the former Hotel Golfinho defunct, ending a years-long legal saga over the abandoned property. The decision clears the way for potential redevelopment of the prominent seafront site.

Business Deals

AIRPORT CONCERNS: The government expressed concern that the new Lisbon airport at Alcochete could be "undersized from day one," despite its planned capacity. Officials are considering expanded terminal designs to accommodate projected passenger growth through 2040.

LEIXÕES EXPANSION: The Environment Agency (APA) granted conditional approval for expansion of the Port of Leixões northern terminal. The project will increase container capacity but must meet strict environmental mitigation requirements.

Tech & Startups

DUA 2.0 LAUNCH: Portuguese AI platform DUA 2.0 became the first artificial intelligence service to support Lusophone Creole languages (Cape Verdean, Guinea-Bissau, São Tomé). The platform targets content creators in Portuguese-speaking Africa and diaspora communities.

ANTHROPIC LEGAL WIN: A U.S. judge temporarily blocked the Pentagon's exclusion of AI company Anthropic (creator of Claude) from defense contracts. The case has implications for Portugal's growing AI sector, as several Portuguese startups use Anthropic's technology.

APPLE DISCONTINUES MAC PRO: Apple has discontinued the Mac Pro tower, its most powerful desktop computer. The move affects Portugal's creative and tech industries, where Mac Pros have been workhorses for video production and software development.

Tourism & Hospitality

TOURISM OUTLOOK: The Portuguese Hotel Association projects 2.5% growth in guest numbers, 1.7% increase in overnight stays, and 3% revenue growth for 2026, despite Middle East instability. Lisbon, Porto, and the Algarve continue driving growth.

JANUARY REVENUE: Bank of Portugal data shows tourism revenue reached €1,596.42 million in January 2026, up 3% year-over-year. The Atlantic islands (Madeira and Azores) saw particularly strong performance.