Revenues from Tourism Increase 19%. “It’s the Growth of the Century”

23 November 2017

Tourists spent more than 42 million euros per day in Portugal between January and September. The sector is growing, most notably in the low season, the Secretary of State for Tourism stated.

Revenues from tourism exceeded 11.5 billion euros from January to September of this year, a growth of 19% over the same period last year. “It is the greatest growth of the century,” the Secretary of State for Tourism, Ana Mendes Godinho, enthused.

Overall, according to data from the Bank of Portugal, tourism revenues amounted to €11.569 billion for the first nine months of the year, a year-on-year increase of 19%. This means that, in this period, foreign tourists spent more than 42.3 million euros per day in Portugal.

This was “a record growth, the highest growth of the century”, and in these nine months alone, Portugal has already surpassed the total tourist revenues collected in the year 2015, Secretary Godinho emphasised during the 43rd National Congress of the Portuguese Association of Travel and Tourism Agencies (APAVT), which is taking place in Macau this year.

Also, spending by Portuguese nationals abroad is increasing. Between January and September, Portuguese tourists spent 3.2 billion euros overseas, 13% more than in the same period last year. The balance of travel and tourism accounts for €8.3 billion, a year-on-year increase of 21%. Tourism accounts for 71% of the balance of services.

In addition to this contribution to the Portuguese national economy, the governor also stressed that tourism created 53,000 jobs in the third quarter. “If we compare September with the same month of 2015, we have an additional 70,000 people working in the tourism sector in Portugal,” she stated. More importantly, Ms Godinho stressed, “tourism activity is also expanding throughout the year, with the highest growth rates occurring during the low season.”

Original Story: Economia Online – Rafaela Burd Relvas

Translation: Richard Turner