Tourism in Portugal generates the highest revenue ever in 2014

Tourism revenue in Portugal reached the highest values ​​ever in 2014 counting the data until November […]

tourists2Tourism revenues in Portugal reached the highest values ​​ever in 2014 counting the data until November of last year. Revenues generated by tourism in Portugal grew 12,2% between January and November 2014, compared to the same period in 2013, totaling 9,6 billion euros.

According to a statement from Turismo de Portugal, the «number of guests and overnight stays disclosed by the INE and the revenue figures disclosed by Banco de Portugal confirm the growing role of tourism as an engine of the national economy».

Turismo de Portugal also highlights that, in relation to the performance of the main competing destinations, namely Spain, the national market stands out with a growth rate three times higher (Spain increased revenues by 4% in the same period).

The President of Tourism of Portugal, João Cotrim de Figueiredo, says that “the data now released are very positive from a quantitative point of view, but even more so from a qualitative point of view. Throughout 2014, we witnessed an improvement in the occupancy rate, an increase in the average revenue per room and an increase in revenue at a rate higher than that of overnight stays. This means a significant improvement in the profitability of many tourist companies, which is essential for them to continue investing in the sector».

Per day, and until the end of November 2014, foreign tourists left around 29 million euros in Portugal. Among the main inbound markets, France, United Kingdom and Spain stand out in this period with total expenditures of around 1,699 billion (+10,9% compared to the same period of the previous year), 1,664 billion (+16,1%) and 1,142 billion euros (+ 11%), respectively. Each overnight stay spent by foreigners in Portugal represents €309,65 for the country, more than in Spain (€250,70).

In November 2014 alone, the tourism industry generated gains for the Portuguese economy of 632,8 million euros, 10,4% more than in November 2013.