economyportugal

Tertiary sector is in complete disruption in Portugal

The pandemic and the State of Calamity are having a devastating effect on the tertiary sector in Portugal, as according to a survey by Fixando to 18,600 Portuguese professionals, between 14 and 18 October, reveals that 54% did not obtain any income in the 3rd quarter of 2020.

In this 3rd quarter, it was also learned that the average monthly profits of service providers fell to €746, when the average in 2019 amounted to € 1,026 monthly.

With regard to the future expectation of these professionals on the Fixando platform, the largest in Portugal for hiring local services, it appears that the goal for the 4th quarter is to achieve monthly profits of € 800 and recover to €1,117 in 2021.

Fixando also reveals that 22% of professionals assumed they had resorted to the following government aids: lay-off (39%), arrears and credits (57%), unemployment benefit (22%), and others – EOM, bank credits, social security… – (17%).

In this scenario, the survey indicates that 68% of service providers consider that the current State of Calamity will be devastating for their business, with 43% saying they are unable to survive more than 3 months.

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