The publication reports that although the United States is certainly a better place to earn money and that on balance, Europe is still a better place to spend it. Highlighting how when anything interesting arises in America whether that be tv programmes, Amazon or even food, they make their way to Europe, however, this does not happen in reverse, citing examples such as great Indian restaurants, medieval cathedrals, M&S food, free healthcare, border castles, sausage rolls and country pubs.”

It further notes that people are now increasingly discovering that, beyond a certain threshold, you can improve your life far more easily by optimising your consumption than by maximising your earnings.

Adding, that the reason this is a recent discovery is that, historically, once you had a job, there was a limit to the lifestyle changes you could make. Not least because you couldn’t move anywhere else. However, this is no longer true of the talented young, for whom the opportunity to work from anywhere may soon be the single most important factor in their career decisions.

The Spectator affirms that Portugal is trying to attract the talented and mobile young, not only with visas but through its comprehensive tax reduction plan aimed at under 35s. It is inevitable that a few other countries will follow this route. We need to consider the risk that Britain will soon face a new kind of migration crisis – this time in the opposite direction.

According to expat tax consultancy FRESH, the government's "You Have a Future in Portugal" plan, seeks to alleviate the financial burden on young professionals and incentivise their economic participation. This plan is set to start in 2025, subject to parliamentary approval but if it does go ahead, the reduction of income tax (IRS) for employees and self-employed individuals under 35 will be reduced by two-thirds.

Additionally, first-time buyers could benefit from being exempt from the Municipal Property Transfer Tax (IMT), as well as stamp duty. The government has also approved a public guarantee covering up to 15% of the property value for first-time home purchases by young people.

This outcome could make Portugal even more competitive to this particular demographic and will incentivise many young people to choose Portugal.