Portugal’s footwear industry is to invest 20 million Euros this and next year in marketing its products abroad, to establish itself as the most sophisticated in the world. The goal is to double exports over the next decade.
The plan is budgeted at 1 million Euro a year, with the goal to raise the sector’s profile and doubling exports by 2025 from the 2010 level of 1.2 Euros billion. Last year, Portugal’s footwear exports rose 8% to more than 1.7 billion Euros, a record value.
Industry officials say they are optimistic about their chances of securing significant funding for such campaigns from European Union development funds, after receiving 55 million Euros between 2007 and 2013.
With 1,696 companies and 41,295 jobs, the Portuguese footwear industry is one of the country’s most important, exporting 95% of output right behind Italy.