Study shows Portuguese “pessimistic”, delaying ‘big decisions’ for post-2021

A study that could well have written itself (without talking to anyone) has discovered that more than three quarters of the Portuguese population is pessimistic about the evolution of the economy – while ‘big decisions’ like changing jobs, starting a family, buying a house, or even buying a car, are all ‘out of the question’ for 2021.

The study, “Lifestyle and Investment Decisions of Portuguese Families in 2021” has been elaborated by ISAG, the Superior Institute of Management and Administration and CICET-FCVC (the centre for investigation of business sciences and tourism of the Foundation Consuelo Vieira da Costa). 

It sought to “understand what the principal expectations were of Portuguese families in the adverse context brought by the Covid-19 pandemic”, writes Público.

Over 76% of people questioned were “pessimistic or very pessimistic about the evolution of the Portuguese economy” with much higher percentages basically saying they weren’t interested in doing anything in terms of changes. 

Couples that do have children are certainly not thinking of having any more (94.1%), and those that don’t are almost as adamant (89.8%).

Over 71% “show no interest in investing in stocks”, while basically “the perspective of the Portuguese for 2021 is that they will be impacted by the increase of financial discomfort”.

Before the pandemic, 7.3% of people described their financial situation as “uncomfortable” or “very uncomfortable”. Now, that number has risen to 19.6%. 

Put another way, the percentage of people now who feel financially comfortable in Portugal has decreased from 66.6% (pre-pandemic), to just 52%.

natasha.donn@algarveresident.com