The virtues of privatization

Article Abstract:

Privatization took off in Portugal in 1989 and the state hasdecreased its share of gross domestic product to 10% from 20%, with a drop in the financialservices industry to 38% from 90%. The program has raised over $5.8 billion with Cimpor andSecil, both cement concerns, accounting for $675 million of the total. Portugal is moving into theinternational market with operations such as a placing of a 25% stake in Portugal Telecom inMay 1995. This program has benefited the Lisbon stock exchange which is intergrating morefully into Europe.

Privatization, Privatization (Business)

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EU membership guarantees regulation

Article Abstract:

Madeira has set up an Offshore Financial Center which isinvolved in a range of activities including banking and insurance. Madeira benefits frommembership of the European Union (EU) which provides a link with the European market inaddition to regulatory guarantees. Madeira channeled around 36% of foreign investment intoPortugal during 1993. Madeira has Exterior Offshore Branches which offer services fornon-residents in Portugal, so give complete tax exemption, and International Offshore Branchesdealing with Portuguese residents.

Financial Services, Finance and Insurance, Financial services industry

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Developing tourism: which is the best way?

Article Abstract:

Toutism accounts for a fifth of thegross domestic product of Madeira and accounts for 10% of employment in the island. Mosttourism is focused on Funchal, capital of the island. Tourists benefit from climate, scenery andwine, but there is a lack of beaches which has hindered the development of mass touris inMadeira. The UK accounts for 33% of tourists. Madeira concentrates on four and five starestablishments and there is a debate as to whether more three star hotels should bebuilt.

Lodging & Tourist Services, Accommodation, Travel industry

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