The tourism sector generated more than 14.700 million euros in Lisbon’s great region, alongside a grand total of 201 thousand jobs and 20.3% GDP of the region.
Lisbon’s Tourism Association published a report on the macroeconomic impact of tourism and this report shows that the total production of the agents in tourism’s chain value in the Lisbon region grew 11% from 2005 to 2018. This report showed that the returns value on hotels kept growing since 2012 and the average value per room reached €108,57 in 2018. Short-term rentals return increased by 37.7% in 2018, compared to the year before. In a more indirect manner, restaurants also registered significant growth, generating over 900 million € in 2018 (26% more than the year before). Transports grew 13% and Golfe 5.86%.
Wherefrom is Lisbon’s main tourists coming?
As to the origins of the tourists that booked rooms in the great Lisbon region in 2018, the report highlights the Brasilians, French, North Americans, Spanish, Germans, Britons, and Italians. These tourists spent, on average, 153,5€ per day and slept an average of 4.5 nights in the region. 95.1% arrived in the country by airplane and 90% visited Lisbon for the first time.
Lisbon region’s development.
In this publication, Lisbon’s Tourism Association highlights the contributes that the development of tourism brought that benefit the residents in the Lisbon region and also its visitors, namely with the requalification of ruined buildings, and the enrichment of social and cultural offer, by generating the need to create more events and cultural activities and leisure types of equipment.
Lisbon’s inhabitants have been witnessing a rebirth of the city, from tourism derived activity. It comes alive every day, with several activities, shows, events, and general public street activity with thematic tours. Furthermore, Lisbon’s great weather invites people to be outside, occupying famous spaces like Pink Street, Bairro Alto, and Lx Factory.
In the article “Cool Lisbon! Three tips to enjoy Portugal's Capital”, we’ve shared some ideas for what to do and see when visiting the Portuguese capital.
Lisbon was Europe’s sleeping beauty that is now woke.
As we’ve already shared in a previous article, Lisbon was forgotten, it was Europe’s “sleeping beauty” of the 20th century and woke up after 1998’s World Fair. Both local and foreign residents are injecting doses of innovation and modernism despite all the economic hardships.
As an investor, whether you want to benefit from the attractions of Lisbon or be able to offer tourists some peace and quiet in the rural surrounding areas of the city, there are plenty of places to consider when investing in Lisbon. Maybe this guide we wrote on the best areas to invest in Lisbon can offer some assistance when you decide to invest.
The advantages of staying and investing in Portugal
Portugal has long been the most preferred tourist destination for Europeans, but many tourists now decide to prolong their stay because of the great tax incentives they can benefit from when investing in real estate in Portugal. In addition to the obvious advantages of about 300 days of sunshine in the south, along with the low cost of food and houses, we can show you how to save money when investing in real estate in Portugal and why you should do it through Portugal Homes.