Easy: 1. Smaller Population: 46 million people in Spain vs 10 million people in Portugal, more than a 4 to 1 ratio, 4 people usually do more than one thus Spain 2. read more
So, let’s look at some of the reasons that make Spain richer than Portugal: 1 - Geography. Spain has some very fertile high plains, that have a lot of agricultural aptitude. Portugal, instead, is a very rough terrain, except for Alentejo, and agriculture in a nightmare, except for a small band of terrain along the seaside. 2 - Size. read more
Greece got a government bubble; Spain and Ireland got housing bubbles; Italy didn’t even get a bubble, just anemic growth—and Portugal got one of the quietest catastrophes in economic memory. And it’s not entirely clear why. In 2001, Portugal seemed set to embark on a brave new economic future. read more