Between 2019 and 2024, Portugal's space sector added €1.2 billion to GDP and generated €2.4 billion in total economic value, according to a new socioeconomic study.
The research was carried out by Novaspace on behalf of the Portuguese Space Agency.
Findings show the industry sustained an average of 4,500 jobs a year over the period and contributed average annual tax revenues of €290 million to the exchequer.
The study assessed more than 156 companies and institutions, which together generated over €1.1 billion in direct economic output, €559 million in direct gross value added, and around 2,162 direct jobs each year.
Overall, the sector accounted for approximately 0.1% of Portugal's GDP across the six-year period.
On top of these direct contributions, Novaspace calculated that space-related activity produced €729 million in indirect output via supply chains, alongside €350 million in indirect gross value added and roughly 1,350 jobs annually.
Spending by those employed directly and indirectly in the sector generated a further €548 million in induced output, €305 million in induced gross value added, and about 935 jobs per year.
For every euro the sector added directly to GDP, the study found, a further €1.17 was generated through supply chains and household spending.
The report points to rising public investment since Portugal introduced its Space 2030 strategy in 2018 and set up the Portuguese Space Agency a year later.
Funding rose from €55 million in 2018 to €135 million in 2024, excluding defence-related spending.
The study also found that Portugal secured a 102% industrial geo-return from the European Space Agency at the start of 2025 — a funding mechanism used by major international science and research bodies to ensure member states receive a share of industrial contracts broadly proportionate to what their governments invest. Portuguese firms won more than €110 million worth of industrial contracts between 2019 and 2025.
By 2024, the sector had grown to over 150 entities, including more than 80 active companies, clustered mainly around Lisbon, Coimbra and the Porto region.
The study identified Portugal's principal strengths as its launch capability in the Azores, a well-developed space law framework, and a robust pipeline of aerospace engineering talent.
About Portugal Investment Owners Club
The Portugal Investment Owners Club, or P Club for short, is a unique investor membership community designed for discerning individuals, families, and organisations committed to exploring and capitalising on life in Portugal and enjoying money-can't-buy experiences and exclusive events.
About Portugal Pathways
Portugal Pathways has supported hundreds of Golden Visa residency-by-investment applications and provides expert guidance through its professional supply chain network on estate planning, wealth management, Golden Visa and tax optimisation, including post-NHR / IFICI tax regime planning, as well as private healthcare, money transfers and bespoke relocation and luxury real estate solutions to enhance life and investment in Portugal
Disclaimer: The information on the Portugal Pathways and Portugal Investment Owners Club (P Club for short) websites and in email communications is for general informational purposes only and should not be construed as legal, tax, or financial advice. You should consult and check with a qualified professional advisor before relying on any information provided on this website or in email communications. As it relates to investments in Golden Visas or other wealth management solutions offered by regulated and professional advisors, it is important to note that past performance is no guarantee of future returns. Private equities can be highly illiquid and come with risk and should always be under professional independent advice. Golden Visa investments need to be held for 6 to 7 years to allow for permanent citizenship/passport in the EU.
