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Portugal Takes in More Than 15 Billion Euros in Tourism Revenues

19 February 2018

With more than 21 million tourists, Portugal returned to putting some points on the board in the international tourism market. Not only that, the country is breaking records. According to Worx, tourism brought in more than 15 billion euros in revenue last year, an increase of 23.6% compared to 2016. Average daily receipts stood at 41 million euros.

The current data available (accumulated values between January and November 2017) show that there was a 7.2% increase in overnight stays and a 16.5% increase in total revenues. This means that tourism has become one of the leading drivers of the Portuguese economy, and is now fundamental for the country’s economic development strategy and the creation of wealth and employment. According to Worx, “the year 2017 will be recorded as one of the best years for the Portuguese hotels ever.”

“The region of Lisbon contributed the most to the success of national tourism. The data from Turismo de Lisboa point towards a 10% increase in the number of guests, with Spain, France and Brazil accounting for 23% of total overnight stays,” the consultancy said in a statement.

According to Worx, hotels in the region of Lisbon took in more than 700 million euros in room revenues in 2017, followed by the Algarve region with more than 400 million and the North region with close to 300 million of euros.

Compared to 2016, the results show growth in all regions, with the most substantial increases in the hotels in Lisbon (+24%), Center (+22.1) and Azores (+21.9%).

Original Story: Idealista

Photo: Clifford Yeo / Unsplash

Translation: Richard Turner