PSD: INE data reinforce the need to diversify the Algarve economy

Luís Gomes emphasizes that «we must invest in new sectors capable of making the Algarve economy more resilient, more attractive and more stable»

Photo: Bárbara Caetano | Sul Informação (File)

The PSD Algarve warns that data from the National Statistics Institute (INE) have highlighted “the need to diversify the economic base of the Algarve region, which is dependent on tourism”, as candidates have been proposing over the last few weeks.

According to the PSD Algarve, the INE bulletin, released in December, reports “a 16,7% reduction in the region’s Gross Domestic Product in 2020, driven by the decrease in trade, transport and accommodation and restaurants”.

Despite «there was a drop» across the country, the data for the Algarve represent «double the national level (8,4%) and are even above those reported for the Autonomous Region of Madeira (14,3% ), which is also heavily dependent on tourist activity», explains the PSD Algarve.

«The economy of the Algarve depends, in about 60% of the tourism and this is a reality that we want to change. Tourism is part of the region, we cannot deny it or forget it, but the Algarve cannot be so exposed to crises, otherwise it will face serious consequences as we saw in 2020 and 2021 with the drastic reduction in tourist activity», says the head of the list. by PSD Luís Gomes.

«We have to bet on new sectors capable of making the Algarve economy more resilient, more attractive and more stable», explains Luís Gomes.

To give more strength to the economy of the Algarve, the PSD candidates propose measures such as «the investment in the information technology sector through the construction of the ICT cluster in the Algarve, starting from the Algarve Tech Hub».

The agricultural sector “must also be given special attention by investing in products such as oranges, lemons, carob, figs and almonds. This commitment will make it possible to create more wealth and, at the same time, more jobs, more lasting and less dependent on external constraints».

Taking advantage of the opportunities that the sea offers, «a cluster linked to the blue economy must be created as a crucial tool for regional development», concludes the PSD Algarve.