With the globalization of wine, the wine industry in Portugal has experienced a major shift from a local to a global focus over the last 30 years. Quinta do Vallado, one of the major players in that process, has seen exports double (to account for 40% of revenues) and a 10-fold increase in foreign markets (from 5 in 2000 to 48 in 2020).

In 2002, China became the world’s number-one recipient of inward foreign direct investment (FDI). One of the major attractions was China’s entry into the World Trade Organisation (WTO) in December 2001. Spanish firms, which had previously had a major focus on Latin America, participated in the general enthusiasm.