Miguel Rocha Fernandes is a businessman, CEO of the digital agency dengun, and came to Faro “eight or nine years ago”, when he says he found a “dying city”.
However, «four or five years ago, there was an inversion in Faro, everyone noticed it. Now, it's a pleasure to work here, because of the offer in terms of restaurant spaces, the life that the city has or the people who are on the street».
Based on the data provided by by date and summarized in the infographic we published above, the Sul Informação asked the businessman to analyze the situation in the Algarve capital, where he resides.
According to Miguel Rocha Fernandes, «I have several employees who have rented houses here and come to the office on foot. There are very few cities in the world like Faro, where, even though it is the capital, it is still possible to walk to work”.
This is an advantage because, «as ridiculous as it may seem, it is easier for us to attract employees than someone who is in Albufeira or Almancil, because of this situation with the car».
However, he notes, "in terms of infrastructure and resources, it is necessary to be closer to the University, greater synchronization is needed so that we can take advantage of the presence of this institution."
The percentage of working age population in Faro is 64,5%, a high value, unexpected for Miguel Fernandes, who «did not expect such a big discrepancy in relation to the elderly». But, he adds, "it's a good sign."
For the entrepreneur, this high percentage of the active population is due to «the public administration services existing in Faro, it is normal for this number to be inflated. There is also the Airport, the University and a critical mass is needed to work».
One of the data that deserves a comment from Miguel Fernandes is that of foreigners residing in the municipality, a number that is growing.
“I'm pretty sure the number will increase substantially over the next two years, with the “buzz” you hear about foreigners buying properties in Faro. The value of real estate has increased brutally because of this and I believe that this number will go to 15%, very easily», he considers.
For Miguel Fernandes, this is due to the «gastronomic and cultural offer and the various events that help to attract these foreign residents».
This interest in the city has a downside: «get some space to set up a good business in Faro it's very, very complicated. There are vacant buildings, but nothing can be done with them, everything that was at a good price has already been sold. The value of a T3 or T2 has soared and for rent it is very, very difficult. I don't know how we are going to solve this situation, but we are being victims of success», he considers.
In relation to the city's business dynamics, despite the number of incorporated companies being greater than that of dissolved companies, Miguel Fernandes says that "I was expecting a greater positive balance".
With the crisis, «a lot of business was closed and it is normal for the trend to be reversed, which is happening. They have cafezinhos, hostels and local accommodation'.
Counterbalancing the positive and negative points, Miguel Rocha Fernandes is emphatic: «nowadays, I'm proud to work and live in Faro, it is a pleasure to live here».
NOTE: O Sul Informação starts this Monday, with infographics and commentary dedicated to the municipality of Faro, capital of the Algarve, a series of 16 articles called «X-Ray of the Municipalities», dedicated to each of the 16 Algarve municipalities.
The infographics, developed by our multimedia journalist Nuno Costa, use statistical data from Pordata.
The people chosen to comment on the data in each of the municipalities are not, as much as possible, linked to political parties and reside, have businesses or were born in the municipalities concerned.
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