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The golden visa program was put forward as a "job creation" initiative, but results show it generated as little as 280 jobs in a decade https://www.publico.pt/2

The golden visa program was put forward as a "job creation" initiative, but results show it generated as little as 280 jobs in a decade https://www.publico.pt/2022/11/07/politica/noticia/decada-vistos-gold-gerou-280-postos-trabalho-2026529 https://www.publico.pt/2022/11/07/politica/noticia/decada-vi... It was mostly used for wealthy foreigners to acquire real estate, hence the ire. As for AirBnb, it has decimated historical neighbourhoods in Lisbon and turned its historical areas into a kind of theme park.

smcl 4y ago
AirBnb is similarly catching flak for much of Prague's recent spike in housing costs too, and tbh I don't think it's unjustified.
itronitron 4y ago
Which should be bringing money into Lisbon to the net benefit of all people living there. If most of the theme park money isn't staying in Portugal then they should pass some legislation to favor the local economy.
- ClumsyPilot 4y ago
  it could be doing more damage because high house prices destroy local economy. When willvl the West finally learns the lesson that unaffordable realestate is uneconomic suicide just like unaffordable food would be
  - TheOtherHobbes 4y ago
    They don't just destroy the local economy. They also destroy trust in politics - always fragile at best - and hugely increase the odds of a racist/fascist government. We've already seen this in the UK, where a drum beat of race hate aimed at immigrants and refugees has been used to misdirect the population away from neoliberal austerity and "low tax, small government" (big profit) policies. Which - not coincidentally - include a huge amount of literal rent seeking and property profiteering.
    - VieEnCode 4y ago
      100%
- smcl 4y ago
  That's a tough sell for, say, a barman whose landlord realises they can double their rental income by doing short-term lets. Just because there's suddenly a lot of money flowing in, doesn't mean all people immediately benefit (or even eventually benefit), and in the meantime those who already lived there suffer an explosion in prices for renting and buying property.
  - itronitron 4y ago
    Sounds like they should establish rent control and lodging tax on hotels/airbnbs/shortstays.
    - deleted 4y ago
      [deleted]

smcl 4y ago

AirBnb is similarly catching flak for much of Prague's recent spike in housing costs too, and tbh I don't think it's unjustified.

itronitron 4y ago

Which should be bringing money into Lisbon to the net benefit of all people living there. If most of the theme park money isn't staying in Portugal then they should pass some legislation to favor the local economy.

ClumsyPilot 4y ago
it could be doing more damage because high house prices destroy local economy. When willvl the West finally learns the lesson that unaffordable realestate is uneconomic suicide just like unaffordable food would be
- TheOtherHobbes 4y ago
  They don't just destroy the local economy. They also destroy trust in politics - always fragile at best - and hugely increase the odds of a racist/fascist government. We've already seen this in the UK, where a drum beat of race hate aimed at immigrants and refugees has been used to misdirect the population away from neoliberal austerity and "low tax, small government" (big profit) policies. Which - not coincidentally - include a huge amount of literal rent seeking and property profiteering.
  - VieEnCode 4y ago
    100%
smcl 4y ago
That's a tough sell for, say, a barman whose landlord realises they can double their rental income by doing short-term lets. Just because there's suddenly a lot of money flowing in, doesn't mean all people immediately benefit (or even eventually benefit), and in the meantime those who already lived there suffer an explosion in prices for renting and buying property.
- itronitron 4y ago
  Sounds like they should establish rent control and lodging tax on hotels/airbnbs/shortstays.
  - deleted 4y ago
    [deleted]