Last Saturday’s FT article by Peter Wise warned that it will be for the young Portuguese emigrants to judge 'whether the changes achieved were worth the price.'
The Financial Times article noted the growth of exports and of tourism as major factors contributing to the country being lauded as the hero of economic recovery among Portugal’s Eurozone colleagues.
Among the business sectors highlighted was footwear which has shown an 8% increase in exports during 2013 and has earned international recognition through investment in design and technology.
'In the world of shoes, 'Made in Portugal' is second only to 'Made in Italy'' according to Wise who also flagged up Portugal's 1.6% overall economic growth in the last quarter of 2013 which 'surpassed that of any other member of the Eurozone, including Germany.'
Despite these positive factors, the Financial Times article does not ignore the impact of three years of austerity and its affects on the lives of the Portuguese, 'tens of thousands of small businesses went bankrupt, salaries and pensions have decreased, inequality has worsened and the lives of the long-term unemployed have stagnated.'
'When and if they come back, the young emigrants departing today from Lisbon’s Portela airport will be the best judge of whether the changes achieved were worth the price.'
It is estimated that 240,000 Portuguese have left their home county in the last 2 years to find work elsewhere.
