Summary:
CRESC Algarve 2020 increases GDP contribution from 4% to 5%.
Tourism remains the key sector driving economic growth.
Pre-school enrollment skyrockets to 101% in 2023.
Over €319 million allocated, funding 1,500 projects.
Future funding includes €66 million for water sustainability.
Algarve's Economic Growth
The CRESC Algarve 2020 Operational Program has successfully increased the region's contribution to the national GDP from 4% to 5%. This announcement was made by José Apolinário, the president of the CCDR Algarve, during a ceremony in São Brás de Alportel marking the program's closure.
Key Achievements
Apresenting impressive figures, Apolinário highlighted that the region's economy now represents 5% of Portugal's GDP, with tourism being the most significant sector. The CRESC program has also significantly improved public services, particularly in education, with substantial investments in schools.
- Pre-school enrollment surged from 80.9% in 2013 to 101% in 2023, exceeding the target of 93%.
- Basic education participation increased from 96.4% to 99.9%, surpassing the goal of 99.5%.
Funding and Investment
The CRESC 2020 Algarve program allocated nearly €319 million from the European Regional Development Fund (ERDF) and the European Social Fund (ESF), with €140 million directed towards businesses. The funds were aimed at enhancing the region's development, improving export capacity, public administration efficiency, youth employment access, vocational training, and fostering a more environmentally friendly economy.
In total, over 1,500 projects were approved, utilizing the full budget of €318.6 million, aligned with national strategic priorities and the Europe 2020 Strategy.
Notable Projects
The CCDR Algarve emphasized several key projects funded by this program, including:
- Barranco do Demo boardwalk
- Vila do Bispo Museum
- Guadiana shipyards
- Algarve Hospital Center
- Advanced Research and Experimental Surgery Center
- Southwest Coast ecovia and bike path
Future Prospects
Looking ahead to the next community program for the Algarve until 2030, Apolinário mentioned significant funding for sustainability, including €66 million for water resources and vital support for healthcare, particularly in oncology. However, he also stressed the need for more higher education courses, noting that the Algarve currently falls below the national average in this area.
Comments
Join Our Community
Create an account to share your thoughts, engage with others, and be part of our growing community.