“There had always been companies requesting our consultancy services in the past but there had never been time. Now I have the opportunity to share my knowledge and expertise with others, something that is especially relevant with the economic crisis.”

Starting a business while all those around you seem to be failing could be considered a brave, if not almost foolish, move but Constantino Jordan is confident, not only in his own business, but also in the future of the development market  in the Algarve.

“This is a place that people return to time and again. It is not like visiting the pyramids - once you have seen them, that is it. This is a relaxing tourist destination with good food, good people and good weather,” he said.

However, the tourism and real estate market cannot afford to rest on its laurels and hope the storm will pass them over, he said. Steps need to be taken now if companies are to be able to survive and quality is the key.

“We need to maintain and build quality in the tourism and development sectors to be able to compete in the market.

“The Algarve was a seller’s market in the past and people bought thinking that the boom would never end. But, as with every boom, there is a bubble and then that bubble burst,” he said.

“Developers have now found themselves in a buyer’s market and they need to adjust to compete and survive and to do this they need to distinguish themselves and give clients added value to a product, something a little different.”

The future of the Algarve may not be in traditional development projects but it is a long way from becoming the latest victim of the economic crisis and by following some simple, sound advice companies can fight against current conditions.

“2009 will be a horrible year and it will be a case of the survival of the fittest. Good companies will not go under; try to be like a star and make yourself seen in this dark economic sky.”

source: algarveresident news