Portugal heading for another record year for tourist arrivals

  • Home >
  • Portugal heading for another record year for tourist arrivals

Portugal heading for another record year for tourist arrivals

Published on 25th September 2018
Portugal heading for another record year for tourist arrivals

The number of foreign tourists visiting Portugal jumped around 13 percent in January-July, putting the country firmly on track for another record year for tourism, which has been a key driver of its economic recovery since a 2011-14 debt crisis.

The National Statistics Institute said on Thursday in its monthly data on the hotel sector that over 7.1 million foreign visitors stayed in Portuguese hotels through July, which helped drive total hotel revenues over 17 percent higher to 1.8 billion euros ($2.14 billion).

Portugal’s arrivals growth outpaced those in neighboring Spain, which chalked up a 11 percent rise in the same period, according to official Spanish data.

Despite a deceleration in July from June levels, both the tourist arrivals and revenues so far this year maintained the pace of growth seen in 2016, when tourist arrivals exceeded 10 million for the first time.

August is traditionally the strongest month by far for holiday-making in Portugal, which lures foreign visitors with its beaches, historic sites and some of the lowest prices for wining and dining in western Europe.

Pop star Madonna has this month become the most illustrious of a growing number of foreign residents in Portugal, which was also named Europe’s top destination for expatriates in a survey by social network InterNations.

Hotel revenues and all travel-related revenues account for about 10 percent of Portugal’s gross domestic product. The tourism sector is also a key source of employment.

Tourism has been growing since 2011, helping the heavily indebted country overcome its economic and debt crisis. Economic growth this year is expected to accelerate to over 2 percent from 1.4 percent in 2016. 

Portugal has opened dozens of new hotels in the past year and private entrepreneurs have redeveloped hundreds of apartment buildings in old parts of Lisbon and other areas to rent to tourists, helping the country’s flagging construction sector.


Source: reuters.com

Download our
brochure now
Available below

latest news

13
Apr
Why should you retire in Portugal after the coronavirus pandemic?

Why should you retire…

(5min read)  Besides being elected as the best destination in the world, Forbes has elected…
03
Apr
Currency drop enables Hongkongers to invest overseas

Currency drop enables…

(5min read)  According to property agents, Hongkongers have been even more interested…
02
Apr
Why should you be selling property right now?

Why should you be selling…

(5min read)  Buying and selling property is often seen as an emotional decision to go…

Please note that Portugal Homes will use the above details to contact you only. By submitting this form, you confirm that you agree to our website terms of use, our privacy policy and consent to cookies being stored on your computer.

Search for a property

latest properties

Available
OFF PLAN LUXURY APARTMENT RESORT IN BURGAU
€280,000
  • Property for sale in in Portugal 2 Bed
  • Property for sale in in PortugalApartment
  • Property for sale in in Portugal872 sqm
  • REF: CB-A/05518
Available
Fantastic Plot of land with ocean views
€250,000
  • Property for sale in in PortugalLand
  • REF: CB-T/04247
Available
Land to sell in Lagos
€150,000
  • Property for sale in in PortugalLand
  • Property for sale in in Portugal829 sqm
  • REF: CB-T/05529
SIGN UP FOR PROPERTY ALERTS