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Lisbon is a premier example of how the modern European city betrays its own people
The average native Portugese income is €900 a month - I met a doctor making €1400 a month - they are taxed at 45%
Yet, there’s a Tax plan that allows rich foreigners to pay 0% tax
Ontop of this, the Portuguese government try to attract Tech talent from the US to help get money into the country - Web Summit, Crypto, ETH Conferences happen all year
This all creates a large remote working expat community of digital nomads
Parallel to this is another European mass migration project - immigrants arrived in droves over the last few years and are used as cheap labour
More than twice as many immigrants were granted residency here in 2020 than in 2015
The Portuguese take in all the leftover migrants who wanted to go to France and Germany since 2015 but missed the window before the Northern States closed down migration
Rents have doubled in price in the last 5 years as a consequence
Now, none of the natives can afford to live in the city, they’re effectively priced out
This all means inner city Lisbon is full of Americans, Rich Northwestern Europeans, Brazilians, and Bangladeshi - next to no Portugese
It’s a beautiful place, but it feels like wandering through the ruins of something Majestic
The average native Portugese income is €900 a month - I met a doctor making €1400 a month - they are taxed at 45%
Yet, there’s a Tax plan that allows rich foreigners to pay 0% tax
Ontop of this, the Portuguese government try to attract Tech talent from the US to help get money into the country - Web Summit, Crypto, ETH Conferences happen all year
This all creates a large remote working expat community of digital nomads
Parallel to this is another European mass migration project - immigrants arrived in droves over the last few years and are used as cheap labour
More than twice as many immigrants were granted residency here in 2020 than in 2015
The Portuguese take in all the leftover migrants who wanted to go to France and Germany since 2015 but missed the window before the Northern States closed down migration
Rents have doubled in price in the last 5 years as a consequence
Now, none of the natives can afford to live in the city, they’re effectively priced out
This all means inner city Lisbon is full of Americans, Rich Northwestern Europeans, Brazilians, and Bangladeshi - next to no Portugese
It’s a beautiful place, but it feels like wandering through the ruins of something Majestic
Pics from first poast
https://twitter.com/michaelboegl/status/1719414593414484255
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