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I wonder what is the end game here. The Portuguese government needs the extra tax revenue to mitigate their own foreign debt and stop state pensions from colla
by DoingIsLearning 4y ago
I wonder what is the end game here.
The Portuguese government needs the extra tax revenue to mitigate their own foreign debt and stop state pensions from collapsing mostly because there is no population growth and a large emmigration flow.
But these retirees are largely not going to generate jobs or raise more kids and they will increase the pressure on real estate and healthcare.
I wonder if anyone has done the maths on this in terms of the long term consequences and costs?
- sytelus 4y agoThey are the spenders and lifts up local economy. As long as immigrant population has more than above average income than local population, it's good for economy. Downside is ofcourse that real estate will go up but upside is that average income local population also goes up because there are more people buying goods and services.
- mytailorisrich 4y agoWith the birth rate they have the natural trend is that their population is shrinking. Therefore, a level of immigration is certainly not putting pressure on real estate. If anything it's preventing the market from crashing.
- FooBarBizBazz 4y agoAt the local level, in many western countries, municipalities will specifically zone for "55+ communities" for this reason: They bring tax dollars but don't need schools.
- more_corn 4y agoA friend of mine relocated his tech company there. It’s going great. He employs locals, farms them out to US clients at a more favorable rate, guarantees outcomes, lives well. I should look him up and go visit.