The European Commission is developing a pan-European Pension Product (PEPP): a simple and cost-effective retirement plan which will be portable across EU member states. The PEPP will be designed to give hundreds of millions of savers throughout the EU more choice where currently options are often few and far between. It will also create new growth opportunities for pension providers to take advantage of a European single market for personal pensions estimated to grow to 2.1 trillion Euros over the next decade, as reported recently in the Financial Times.
“Turismo de Portugal” has set ambitious goals for the coming decade, following a 17% jump in tourism in January:
- a) A 4% annual increase, thereby doubling overnight stays by 2027;
- b) Reduce seasonality by one third by increasing off-season offerings over the same period;
- c) Boost training and qualifications of hotel and restaurant personnel;
- d) Bolster national approval for tourism to 90% of the population;
- e) Enhance conservation and appreciation of Portugal’s cultural and national heritage;
- f) Strengthen competitiveness and innovation;
- g) Improve qualifications and inclusion of activities and residents.
Tourism already represents 17% of gross domestic product and the view is optimistic for on-going growth and improvement.