2022 data from Numbeo, also shows that Portugal has climbed 14 places as an affordable destination in the Cost of Living Index, while the UK has dropped back a place. Portugal is now the 64th most expensive country in the world; the UK is the 27th.

The rising cost of inflation in the UK hit a near-30-year high in January, rising to 5.5%, which is expected to hit 8% by April. The eurozone fared only slightly better, hitting a new year-on-year inflation high of 5.1% in January. Portugal, though, reported the second lowest increase of any EU Member State, at just 3.4%.

Soaring energy bills are playing a major role in the current escalation of living costs in the UK. Portugal delivers another win here, reporting the second lowest energy inflation rate in in the EU in January, at 12%.

“Life in Portugal is more affordable than life in the UK and becoming even more so. We’re seeing increasing interest from Britons looking to start over in Portugal. They are keen to enjoy a lower cost of living and a far greater choice of properties than they can in the UK. The climate, cuisine, culture and a host of other factors are also all playing their part,” said Christina Hippisley, General Manager of the Portuguese Chamber of Commerce in the UK

Moving to Portugal

The Moving to Portugal show on 31st March 2022 will include a series of seminars and a range of exhibitors to help attendees explore their numerous property options. The event will also cover everything Brits need to know about relocating to Portugal; experts will be on hand to discuss visas, banking, investments, tax, legalities, lifestyle and more. The free-to-attend show will take place at London’s Pestana Chelsea Bridge Hotel, from 11 am to 9 pm.

“Portugal is no longer a destination solely for retirees looking to make their nest egg stretch further. It certainly ticks that box, but the country is also attracting a rising number of millennials who are keen to start over. Everything from buying a home to running a business is more affordable in Portugal, while its attractions as a base for digital nomads are also increasingly being appreciated by younger people looking to relocate, “ added Christina Hippisley.

For more information, please contact the Portuguese Chamber of Commerce in the UK: www.portuguese-chamber.org.uk or www.movingtoportugal.org.uk

Full details of the Moving to Portugal event are available at: https://movingtoportugal.org.uk/event/moving-to-portugal-show-seminars-12th-edition-london/