ABSTRACT
This paper investigates how education and training institutions in Portugal fund internationalisation, moving beyond the traditional focus on higher education. Employing a convergent parallel mixed-methods design through a nationwide survey and interviews, it reveals a two-tiered system shaped by funding availability and diversity. Higher education institutions leverage a diversified portfolio of internal, national, and European funds to fuel ambitious, competitive agendas that reflect their complex missions. In contrast, the non-tertiary sectors (School, Adult and Vocational Education) are critically dependent on a single source, Erasmus+, a dependency that channels their efforts primarily towards mobility, constraining their strategic autonomy and creating a structural inequality within the national system. The study argues that funding is not a neutral facilitator but a powerful force that influences the scope and nature of internationalisation. It concludes by proposing future research avenues and policy actions to foster more equitable international engagement across sectors.