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Portugal Business

Businesses expanding in Algarve

Businesses expanding in Algarve

This week we bring two news about businesses expanding in the Algarve area. The news means convenience for locals (nationals, expats and travellers) and also proof that the Algarve region is showing economic vitality and attractiveness.

Bolt (former Taxify) arrives in Algarve

According to Sul Informação, the Uber-like Bolt platform, formerly Taxify, is on to expand its business to Algarve right away. The company started the driver recruitment phase; expects to be entirely operational for the Summer, when it plans to get good earnings. David Ferreira, Bolt’s manager for Portugal, says that the company is already established in the main urban areas of Lisbon, Porto and Braga; after those, Algarve is the obvious choice.

Bolt will be the third platform of the kind operating in Algarve, competing with Uber and Cabify.

Lidl arrives in Boliqueime

The German retail group, one of the leading players of the sector in Portugal, is opening a new facility in Algarve; this time, in the village of Boliqueime, in Loulé municipality. According to Portugal Resident, this will be the 15th Lidl supermarket in the region.

The new facility, “built from scratch”, features 1400 square meters and represents an investment of €8 million (£6,92 million). Adding 23 new employees, Lidl will now employ about 370 people throughout Algarve.

Tourism as the economic drive of the region

Without major industries nor main urban areas, Algarve is notwithstanding an attractive venue for the tertiary sectors, providing services to the people travelling and residing in Algarve. The growth of tourism and real estate investment is giving companies good prospects for the future, so it’s understandable that they want to be here.

The Lidl investment in Boliqueime is especially remarkable, as this is a 5,000 inhabitants parish (according to 2011 census), which would not justify, per itself, this kind of facility; throughout the country, Lidl usually places supermarkets in larger towns or cities. The Algarve dynamics explains the Germans investment in an otherwise little agglomeration.