Portugal is a fine country with plenty going for it, as an increasing number of Brits seem to be discovering. Just under 50,000 people moved there from the UK in 2023/34, up from 45,000 the previous year. These expats may or may not be aware that the country they’ve moved to (well-functioning, democratic, competitive and sunny) has a GDP equivalent to the amount their home country will soon spend on the NHS each year.

Portugal’s entire Gross Domestic Product – the value of all goods and services produced – is about £237bn. The UK is of course a much larger economy and a larger........

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