Why is Lisbon cheap compared to many of the cities Western Europe?

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wubdemil
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Why is Lisbon cheap compared to many of the cities Western Europe?

Post by wubdemil » Fri Aug 16, 2019 4:16 pm

Is it an unpleasant place to live/visit, again compared to the rest of Western Europe? Or is it because there is not much economic activity going on in that area? If the latter, I suppose it is a nice place to live if you don't need to work or if you can work remotely.

MoneyMarathon
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by MoneyMarathon » Fri Aug 16, 2019 4:35 pm

wubdemil wrote:
Fri Aug 16, 2019 4:16 pm
Or is it because there is not much economic activity going on in that area?
Basically this.

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Watty
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by Watty » Fri Aug 16, 2019 4:43 pm

Probably because it is one of the poorest countries in Western Europe.

https://en.wikipedia.org/wiki/List_of_s ... per_capita

Traveler
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by Traveler » Fri Aug 16, 2019 5:43 pm

I spent a week in Portugal in 2007 and loved it. It is a place I will definitely return to - maybe next year. Yes, it was cheaper than some places in western Europe but it is also very nice and the weather is better than most of Europe.

THY4373
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by THY4373 » Fri Aug 16, 2019 5:53 pm

I visited Lisbon last year and it was was a wonderful city to visit and I thoroughly enjoyed my time there and look forward to going back and spending a bit longer on a future trip. If you get there make sure you take at least a day trip to Sintra.

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Bogle7
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by Bogle7 » Fri Aug 16, 2019 5:56 pm

Lisboa is wonderful. We spent 10 days there in 2017 and would return. Highly recommended.
Prices are low because incomes are lower (than España, France, Deutschland). They have come up since dropping the Escudo for the Euro.
Don't expect it to stay super cheap as tourism is exploding. https://www.statista.com/statistics/413 ... -portugal/
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nedsaid
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by nedsaid » Fri Aug 16, 2019 5:57 pm

I loved Lisbon. There is a modern part which is gleaming with new buildings and modern architecture and the older part which still looks nice but which has seen its best days. You can tell that the older part of Lisbon was once one of the jewels of Europe. It just has the look of a place where you can see that a lot of the money just went away. My guess is that Portugal must be relatively poor compared to other nations in Western Europe, don't know the per capita income numbers.
A fool and his money are good for business.

catalina355
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by catalina355 » Fri Aug 16, 2019 5:58 pm

wubdemil wrote:
Fri Aug 16, 2019 4:16 pm
Is it an unpleasant place to live/visit, again compared to the rest of Western Europe? Or is it because there is not much economic activity going on in that area? If the latter, I suppose it is a nice place to live if you don't need to work or if you can work remotely.
Have you visited Lisbon?

catalina355
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by catalina355 » Fri Aug 16, 2019 6:00 pm

Watty wrote:
Fri Aug 16, 2019 4:43 pm
Probably because it is one of the poorest countries in Western Europe.

https://en.wikipedia.org/wiki/List_of_s ... per_capita
GDP per capita is not the same as cost of living.

edgeagg
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by edgeagg » Fri Aug 16, 2019 6:01 pm

Well, I spent about a month there recently and had a great time. People were genuinely warm and the $ went very far. We are thinking of moving to Europe some time in the next 10 years and are spending longish vacations in places that we may want to move to. Next up is Valencia in Spain.....

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willthrill81
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by willthrill81 » Fri Aug 16, 2019 6:12 pm

This site, Numbeo, seems to have decent data on a variety of categories. Comparing a nearby U.S. city's prices to Lisbon's would likely be more relevant than comparing one nation to another.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

Starfish
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by Starfish » Sat Aug 17, 2019 12:50 am

Lisbon is nice but I highly recommend Porto. Both cheaper and more interesting.
Unfortunately you are late to the party. As tourism exploded Portugal is not that cheap anymore.

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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by AlohaJoe » Sat Aug 17, 2019 12:58 am

You might have heard of "PIGS" -- Portugal, Italy, Greece, Spain. Europe's "basket case economies"?

https://en.wikipedia.org/wiki/PIGS_(economics)

In 2013 Portugal had unemployment of 15%. Even last year it was still 7.9%. By contrast, even in the depths of the Global Financial Crisis, unemployment in the US barely reached 10% and was under 8% by 2012.

SrGrumpy
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by SrGrumpy » Sat Aug 17, 2019 3:20 am

Starfish wrote:
Sat Aug 17, 2019 12:50 am
Lisbon is nice but I highly recommend Porto. Both cheaper and more interesting.
Unfortunately you are late to the party. As tourism exploded Portugal is not that cheap anymore.
It's still relatively cheap, which is the issue raised in the thread.

Maverick3320
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by Maverick3320 » Sat Aug 17, 2019 12:18 pm

catalina355 wrote:
Fri Aug 16, 2019 6:00 pm
Watty wrote:
Fri Aug 16, 2019 4:43 pm
Probably because it is one of the poorest countries in Western Europe.

https://en.wikipedia.org/wiki/List_of_s ... per_capita
GDP per capita is not the same as cost of living.
In your opinion, why is Lisbon so much cheaper?

catalina355
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by catalina355 » Sat Aug 17, 2019 2:47 pm

Maverick3320 wrote:
Sat Aug 17, 2019 12:18 pm
catalina355 wrote:
Fri Aug 16, 2019 6:00 pm
Watty wrote:
Fri Aug 16, 2019 4:43 pm
Probably because it is one of the poorest countries in Western Europe.

https://en.wikipedia.org/wiki/List_of_s ... per_capita
GDP per capita is not the same as cost of living.
In your opinion, why is Lisbon so much cheaper?
Higher unemployment, more of an agricultural society, greater self sufficiency and lower imports, other economic factors that go into the cost of living. Likewise, COL in some states is lower and GDP per capita does not reflect directly in local communities.

Shallowpockets
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by Shallowpockets » Sat Aug 17, 2019 5:01 pm

OP. Why are you interested in this? I may wonder why some place is so expensive, but never if it is cheap.

HEDGEFUNDIE
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by HEDGEFUNDIE » Sat Aug 17, 2019 5:23 pm

AlohaJoe wrote:
Sat Aug 17, 2019 12:58 am
You might have heard of "PIGS" -- Portugal, Italy, Greece, Spain. Europe's "basket case economies"?

https://en.wikipedia.org/wiki/PIGS_(economics)

In 2013 Portugal had unemployment of 15%. Even last year it was still 7.9%. By contrast, even in the depths of the Global Financial Crisis, unemployment in the US barely reached 10% and was under 8% by 2012.
They might be economic basket cases but also have the best lifestyles. Not unrelated.

cheesepep
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by cheesepep » Sat Aug 17, 2019 9:34 pm

Oh. How the mighty has fallen. Portugal once owned a sizeable stake of the Americas, Africa, and parts of Asia. But now, basically only owns it original landmass with a dying economy.

So...if I were inclined, I would take full advantage of it and book a nice vacation there if it is safe and has good food.

StealthRabbit
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by StealthRabbit » Sun Aug 18, 2019 10:42 am

Lisbon is nice and inexpensive to visit.
Lisbon is a very large city with little industry, but plenty of tourists.

Southern Portugal is filled with Euro / UK PT housing / winter retreat.

but...

Consider rural Portugal, especially the 'frontier' (Bordering Spain).

Wonderful walled cities with few people and very inexpensive to LIVE!

Douro Valley was very nice too... We were the only guests at a winery B&B. We stayed for a week enjoying spectacular vista, outdoor kitchen, buildings from the 1600's, nice scenic drives, fresh produce.


Lots to like about Portugal.

jayk238
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Re: Why is Lisbon cheap compared to many of the cities Western Europe?

Post by jayk238 » Sun Aug 18, 2019 12:18 pm

wubdemil wrote:
Fri Aug 16, 2019 4:16 pm
Is it an unpleasant place to live/visit, again compared to the rest of Western Europe? Or is it because there is not much economic activity going on in that area? If the latter, I suppose it is a nice place to live if you don't need to work or if you can work remotely.
Ive been to europe several times over the past 3 years. Ive been to 6 countries and france twice. Ive noticed that price variations are a combination of economic productivity, tourism, and transportation. The more tourists, the more succesful a city or country and the better the transportation the more expensive it becomes.

Germany is relatively cheap from a tourists perspective but expensive if you live there. Cheap because they susbsidize high quality food and public transportation is inexpensive. But its not as friendly to non european tourists. Outside of nieschwenstein i did not find many internationals outside of major cities and they are likely professionals.

Whereas paris is very tourist heavy and a playground for the rich with good transportation so everything is expensive.

These cities like paris and barcelona and so forth are interconnected heavily with good transportation and attractive to tourists.

Portugal is a poorer country, yes, but it also has less transportation available. It takes a considerable amount of effort to get from lisbon to paris ( 3 trains) whereas other countries are easier to visit. Furthermore its not a language that your average tourist is familiar with. Many americans learn spanish or even french and both spain and france have cities with obvious landmarks that make them popular with asia and tour operators.

One cant say the same about portugal. As a result not a lot of cities offer direct flights to lisbon. Often times this means at least one stop somewhere else -paris etc. So it is cheap for both someone who lives there and for the tourist but its more off the beaten path in terms of convenience.

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