Essay Example on Portugal: Oldest Country in Europe

Introduction

It located in South Western Europe, and the Atlantic Ocean borders it to the South and West. Over the prehistoric times, the nation's territory has been invaded, fought, and settled. The national and official language in Portugal is Portuguese, while the regional language is Mirandese. The foreign languages spoken include English, Spanish, and French. One interesting thing about Portugal is that it is the oldest country in Europe since about half of New World territories once belonged to it. A typical family in the country includes parents and two children, and it is normal to see three or even more generations who live together.

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Economic Environment of Country

The economic freedom of the country is 65.3, making it 62nd freest in the index of 2019. Although the country has sound institutions and independent judicial systems contributing to an effective business framework, its inefficient and indebted public sector has scared away investors and reduced its competitiveness. Also, registering a business in the country is very easy, and it only takes one day. The estimated population of the country in January 2020 was estimated at 10. 14 million. About 95.68 of the population can read and write. The country's population has been decreasing as people leave to settle in other nations.

In 2018, the Gross Domestic Product of the country was 237.98 billion US dollars representing 0.38% of the economy of the world, while in 2020, it is $254.10 billion ("The economic context of Portugal, "n.d.). On the other hand, its GDP per capita in 2018 was $ 23, 737.70 and $24, 917 in 2020. Furthermore, in 2020, the inflation rate of Portugal was 1.8%, and its exchange rate is $1 = PTE181.79 ("The economic context of Portugal, "n.d.). The GDP of the country increased from the previous year by 1.9% due to the strong domestic demand. Currently, the unemployment rate of the country is 6.5. It is the country's agricultural sector that computes 2.1% of the nation's GDP, and the main crops produced include wine, fruits, cereals, and vegetables ("The economic context of Portugal, "n.d.). The industrial sector has employed 24% of the population, and it contributes about 19.2% to its GDP.

Cultural Environment of Country

Portugal is a Roman Catholic nation and ethics of the close-knit family. The rich culture comes from Viking, Moorish, Sephardic Jewish, Celtic, Phoenician, Visigoth, and Germanic (Pimental, n.d.). The nation highly appreciates art and that is the reason its different cities has different museums and even the small municipalities have local art exhibitions in promoting its culture. The literature of Portuguese was developed in the 12th century from works of different people including Dom Denis, who is considered poet king, and he wrote the oral traditions of the country (Pimental, n.d.). Since the Portuguese are mainly passionate about humorous or lyrics works, and they did not establish the tradition of great dramatic theater. Dancing, folk, and fado music are considered a musical expression of Portuguese. The small towns in the nation have squares by the church holding folklorico regional presentations (Pimental, n.d.). Caldo Verde is its traditional food, and bacalhau is also prepared by many households.

Specific Marketing Information

The median age of people living in Portuguese is 42.2 years, and 40% of the population is between 25 and 54 years old ("Portugal: Reaching the consumer, "n.d.). An individual's average salary is $15, 564, and the minimum wage is $676. Although the consumer spending of its citizens has been increasing, their purchasing power is still low. The nation is unequal as the wealthy citizens earn approximately 5.7 times than 20% of the poor individuals ("Portugal: Reaching the consumer,"n.d.). It is the television that has a great influence on the consumer's behavior, and the main televisions where advertisements are done include Zon, SIC, RTP Group, and Groupe Prisa. Newspapers ads assist in swaying the purchasing decision of consumers and informing them of the great and special offers. About 68.2% of the people in Portuguese read magazines and newspapers and the main newspapers include Expresso, Diario de Noticias, Jornal de Noticias, Algarve Resident, Publico, Algarve Daily News, and Jornal de Noticias . However, mail ads are done through the main, but it is ineffective since most individuals consider them spam. Marketing is also usually done through transportation avenues such as posters and billboards in the streets. Lastly, Portugal's advertise through radio and the web.

The relevance of Cultural and Environmental Factors

The cultural factors of Portugal, including language, religious observance, dietary practices, accepted gender roles, and leisure time pursuits, are important for people who want to visit or invest in the country. Through the factors, they will be able to know the kind of people they are dealing with and the type of business they can thrive in the area. Lastly, environmental factors of Portugal are relevant since they can help in designing management procedures.

Conclusion

Portugal is considered one of the oldest countries in Europe, and there are nine countries speaking Portuguese. Although the country's population is decreasing due to emigration, its current GDP is $254.10 billion. Also, the nation values its culture, and that is the reason the museum is located in almost every city, and folklorico presentations are done in almost every town to promote its culture. Lastly, the environmental and cultural factors are essential for people, especially the investors, as they can know the kinds of people they are dealing with.

References

Pimental, T. (n.d.). Traditions and Culture in Portugal - International Living Countries. Retrieved from https://internationalliving.com/countries/portugal/traditions-and-culture-in-portugal/

Portugal: Reaching the consumer. (n.d.). Retrieved from https://santandertrade.com/en/portal/analyse-markets/portugal/reaching-the-consumers

The economic context of Portugal. (n.d.). Retrieved from https://www.nordeatrade.com/en/explore-new-market/portugal/economical-context