You can also increase the speed in which you colonize by increasing your Colonial Migration. Colonial Migration determines how many pops leave from your homelands to settle in your colonial charters. This value can be increased by advances in technology, laws, government reforms, having more outward societal value and increasing Maritime Presence in the region in which you are sending settlers from. But it also can be decreased by distance from the region you are sending settlers from and having more inward societal value. The Outward vs Inward Societal value bar gets activated in the Age of Discovery.

Monthly Migration to a colonial charter as Portugal in 1509

Outward Societal Value

Inward Societal Value

In Europa Universalis V, colonization is a serious investment of ducats, pops, and time. And like any investment, it carries risk: the rewards of overseas expansion may take decades, or even centuries, to fully materialize.

Resources in EU5 are fixed and tied to each location (outside of the unique historical situation of the Columbian Exchange). This means that every settlement decision matters. Choosing where to start colonial charters can be guided by the Resource Gathering Operation (RGO) available in any given location. Whether it produces furs, sugar, gold, silver, cocoa or other valuable goods; prioritizing high-value locations can give your nation a significant long-term advantage.

This system naturally encourages patterns of historical colonization. Regions rich in resources are likely to become hotspots of competition, while less valuable lands may remain untouched until later centuries. Investing early also gives certain nations powerful advantages: for example, Portugal can establish its foothold in Brazil for its gold and gems, while Spain may choose to push aggressively into Mesoamerica to seize its wealth.

RGOs of Brazil

RGOs of MesoAmerica