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Portugal’s Travel & Tourism Sector to Mark Historic Year by Surpassing All 2019 Levels

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The Portugal tourism industry has reached a remarkable milestone this year, surging past previous records to exceed €54 billion in its economic contribution.

In its recent report, the World Travel & Tourism Council (WTTC) also revealed that in 2024, the country’s tourism sector also showed an increase of 24.3 per cent compared to 2019, representing 20 per cent ​​of the national economy, SchengenVisaInfo reports.

At the same time, Portugal expects to support 1.14 million jobs, which marks an increase of 126,000 jobs compared to pre-pandemic levels.

The WTTC report further showed that both international and domestic tourist spending is predicted to show a positive result, reaching €30.7 billion and €17.9 billion, respectively.

The ongoing influx of tourists from around the world has resulted in substantial economic contributions, and Portugal is a top travel destination, and the sector’s future looks exceptionally promising.

WTTC President & CEO, Julia Simpson

Portugal’s Tourism Sector Expects to Employ up to 1.4 Million People by 2034

Based on WTTC forecasts, by 2034, the sector is expected to boost the Portuguese economy, contributing around €66.5 billion – 22.4 per cent of the total economy.

It is also expected to be a significant source of job creation, as it aims to provide a total of 1.4 million jobs nationwide, representing one in four workers.

In 2023, Travel & Tourism’s contribution surged by 8.6 per cent to reach €52BN, representing 19.6 per cent of Portugal’s total economic output, 19.5 per cent above the 2019 peak. The sector supported 1.11MN across the country, adding 91,000 jobs on top of the previous 2019 employment peak.

World Travel & Tourism Council (WTTC)

As for international tourist expenditures, last year, they increased by 9.2 per cent to €29.6 billion. Meanwhile, domestic ones saw a lower growth of almost five per cent to €17.2 billion.

Brazil & USA Among Main Destinations That Contributed to Number of Tourists in Portugal in 2023

During this period, Portugal remained a highly desirable destination, attracting travellers from all over the world.

Portuguese tourists accounted for half of all visitors, followed by Brazilians and Americans. Other important markets included Switzerland, Spain, France, Belgium, the United Kingdom and Canada.

In March 2023, the UK remained the main source of overnight stays in Portugal, showing an increase of 9.3 per cent compared to March 2022.

Moreover, Germany and Spain also saw significant growth, with Spain experiencing the highest growth among major markets at 47.5 per cent. All regions in Portugal experienced an increase in overnight stays, with the West and Tagus Valley, Center and Alentejo regions leading the way.

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