The city pulls in more than four million visitors a year, with around 40% arriving for business.

Cultural know-how

This relatively small capital operates with a subtle mix of formality and spontaneity. “Oftentimes in the States, when you ask for a meeting, people will look at their calendar and say, ‘Can we meet in three weeks?’ But in Lisbon people will say, ‘Sure, why don’t you come over this afternoon for a coffee?” said Maureen Ferguson, a consultant in food, beverages and hospitality, who recently moved to Lisbon from Philadelphia in her native US.

“People are very warm and friendly and their English is spectacular but friendship has to be earned. It takes a little while to move from talking about business to sharing personal information,” Ferguson said. The perfect icebreaker is to enquire about regional cuisine and wines, she advised.