The Praça do Comércio (“Commerce Square” in English) sits right on the Tagus river in Lisbon, serving as a hub for all different types of activities. Commercial ships used to unload their goods directly onto this square to the point that it became known as the “door” to Lisbon that enabled the economy of the city. While commerce ships no longer dock in the area, the Praça do Comércio has come to make an even more notable economic impact on the modern city.
The Monuments that Define Praça do Comércio
Praça do Comércio is more commonly known as Terreiro do Paço (“Palace Square” in English) because the old Royal Palace used to exist in the space before it was destroyed by the earthquake of 1755. Rather than rebuild the palace, something that would rival Europe’s grandest squares was laid out. The square was renamed “Praça do Comércio” to signify how this new space would become an economic hub, with one side opening up to the Tagus river while the other sides would be bordered by government buildings. Once this revision was completed, some of the most notable monuments that have come to define it began to be constructed.
In the middle of the Praça do Comércio is the Equestrian Statue of Jose I that was inaugurated on his birthday in 1775. The first monumental statue dedicated to a king in Lisbon also has a bronze emblem on the front of the pedestal with an image of the Marquês de Pombal, who was credited for the reconstruction of Lisbon. On the rear side of the pedestal, in low relief, there is an allegoric representation of royal generosity towards a city in ruins with Commerce opening up a chest full of money that is placed at the disposition of this royal generosity.
The triumphal arch of the Arco da Rua Augusta was begun in 1759 to celebrate the reconstruction of Lisbon but only completed in 1873. The three statues at the top of the tower represent Glory rewarding Valour and Genius and are part of the Portuguese coat of arms while the two-seated figures at the base represent the two rivers of Portugal, the Tejo and Douro. Visitors can access a viewing platform in the Arco da Rua Augusta which offers an incredible look of the plaza and across the Tagus River.
These monuments have come to define the Praça do Comércio, but they’re far from the only reasons that the square has become such a hub of activity for both residents and visitors.
The Oldest Café in Lisbon and Much More
While Rossio Square is one of Lisbon’s most popular gathering places that contains establishments that have existed for centuries, Praça do Comercio contains the Café-Restaurante Martinho da Arcada which is the oldest café in Lisbon. However, it’s just one of the businesses that the square contains.
The Lisboa Story Centre museum as well as various restaurants and cafes both sides of the square under the arches that define the space. They’ve enabled incredible activity in the area as government offices had previously been the only thing that existed in these places. Because the Praça do Comércio is also a major transport hub with access to various buses and other modes of transit across the city and region, these shops have been able to draw the attention of both residents and tourists. There are numerous other activities for them to engage with inside and throughout the square though.
On weekends, various events are often held on Praça do Comercio, organized by different companies, or simply street artists. On June 10, the day of Portugal, the plaza is typically full of military and residents who celebrate the day. Additionally, races often start or end in the square, while locals descend en masse to watch Portugal play in the Euro Cup or to celebrate a New Year.
Praça do Comércio has been classified as a National Monument of Portugal since 1910, but that’s just part of the reason tourist double-decker buses pass by the area on a routine basis. The identity it has enabled for Lisbon has allowed it to appear on countless items for sale and as a feature in maps all over the city. That significance has created a notable impact on the culture and economy of the city and for all of Portugal.
Serving a New Function in the Economy of Lisbon
When it was first constructed, “the square of commerce” was intended to stimulate and enable the economy of Lisbon in a direct way. The Praça do Comércio did so for the rebuilt Lisbon and continues to do so for the modern city in a way that few could have envisioned. Much of that has been driven by the identity that monuments like Arco da Rua Augusta and the Equestrian Statue of Jose I have enabled to see the space embraced equally by both residents and visitors.
