From the perspective of those who choose the Algarve to live, work and invest, there is a conviction that this is a region of opportunities. A land that offers much more than a mild climate and attractive coastal landscapes. The Algarve is referred to by many as a region with excellent conditions for the development of the primary and tertiary sector.
As a matter of fact, when it comes to the tertiary sector, tourism is the “jewel in the crown” in the economic development of the region, which has been gaining immense successes and merits.
However, the Algarve is a kind of rough sea when it comes to the job market, especially for the younger ones. For those who browse it, you know it's not an easy task. There are those who embark on the job search adventure without a map or a compass to guide the way and literally drift.
Nowadays, leaving the University corridors without any kind of professional experience can be a huge obstacle in the search for a first job, in a labor market that is increasingly globalized and competitive.
According to the National Institute of Statistics report for the first quarter of 2019, the unemployment rate was higher in the young population where 17,6% of those aged between 16 and 24 years old do not work, and despite this rate having the biggest drop in the last year, it continues to be above the European Union average.
Also recently, the Organization for Economic Cooperation and Development (OECD), in the Employment Outlook 2019 report, states that Portugal “was the OECD country where the chances of highly qualified young people finding high salaries shrank the most”.
Now, these numbers are disturbing for any young person who intends to enter the job market for the first time and build their future. Walk your own path. Gain your autonomy and achieve your dreams.
I think we all ask ourselves: what can we expect from such a future?
Despite being called the most educated generation ever, when faced with the reality of the working world, far from the classroom, we feel partly lost and anxious about the future of our professional life.
Never, as now, has it been so important to look to the future of the labor market in the Algarve. We continue to be a service-only region that focuses only on tourism. We are not a region that invests in industries with high added value, with few exceptions such as Congelagos which, with investment from the Battaglia Capital SA Group, has one of the most advanced fish processing and freezing plants in the world.
Recently, the “kick-off” for the development of the Technological Pole at the University of Algarve was also given. A project called Algarve Tech Hub, which will cover key areas such as information technology and health. However, I believe that this project may aim much more than researching and developing new projects for the region.
The Algarve Tech Hub can be an essential point for attracting and maintaining a qualified workforce, one of the great problems that, unfortunately, the
Algarve suffers (not for lack of the same workforce, but because the market is not able to effectively absorb the young graduates who leave the University of Algarve every year).
In the current economic cycle, it would be important for the Algarve to be able to retain young people and qualified staff so that it can become a more business-developed and economically sustainable region every day, all year round.
However, if we really want structural changes to occur in this area, there will have to be consensus and efforts among the various players Of region. Only in this way will it be possible to achieve the objective of making the Algarve a region capable of creating essential bridges of connection so that qualified young people can cross the gap between them and the labor market, choosing this region to work and, in it, settle down .
This is the great challenge for the coming years: to effectively turn the Algarve into a land of opportunity.
Who is Ricardo Proença?
Ricardo José Proença Gonçalves. He is one of many who are passionate about the Algarve and all that it has to offer. It believes in change where it is most needed. Degree in Business Management from the Faculty of Economics, University of Algarve. He also attended the Masters in Management of Health Units, with the thesis temporarily "in the drawer". He was vice-president of the Academic Association of the University of Algarve and member of the
General Council of the University of Algarve. He is currently a trainee member of the Order of Economists.
Note: article published under the protocol between the Sul Informação and the Algarve Delegation of the Order of Economists
Comments