Global revenues from the Algarve hotel industry reach 1,5 thousand ME in 2023

Algarve registered “a sum of records”, with maximum numbers of guests, golf and passengers handled at the airport Faro

André Gomes – Photo: Nuno Costa | Sul Informação

The Algarve registered 20,38 million overnight stays in hotels in 2023, a growth of 6,4% compared to 2022, with global revenues of 1,5 billion euros “never before achieved” in the region, said Algarve Tourism today .

In a statement, the Algarve Tourism Region (RTA), which cites preliminary national tourism data released on Wednesday by the National Statistics Institute (INE), points out that 2023 “can now be seen as the most fruitful” for the Algarve tourism, with revenues exceeding 1,5 billion euros.

“Even without counting revenues from December (which have not yet been determined), the year 2023 can already be seen as the most fruitful for tourism in the region”, he says.

According to that entity, and like the Sul Informação had already noticed, the Algarve registered “a number of records”, with maximum numbers of guests, golf and passengers at Gago Coutinho airport, in Faro.

“The Algarve is an unavoidable treasure, and never before has this had so much expression in the number of guests, airport passengers and hotel profits”, highlights the president of Turismo do Algarve, André Gomes, cited in the note.

The number of guests registered last year totaled 5,13 million, “which means that it exceeded, as in 2019, five million”, with a 1,4% growth in tourist demand “compared to the year pre-pandemic (2019) and an even more pronounced increase of 7,7% when compared to 2022”.

Global hotel revenue recorded between January and November 2023 exceeded 1,5 billion euros, which represents an increase of 9,5% compared to the total for the 12 months of the previous year.

“Comparing the same 11 months of 2023 with the total for 2019, the increase in revenue is even more significant, 27%”, he highlights.

In the same sense, he says, the occupancy rate in hotel units grew to 57,8%, 7,3% above the 53,9% in 2022 and above the 56,4% in 2019.

In golf, 1,4 million rounds were played, which “constitutes a historic maximum for golf in Portugal”.

In 2023, Gago Coutinho airport in Faro, handled 9,64 million passengers, showing “an increase of 18% compared to 2022 and 7% compared to 2019, considered so far the best tourist year ever”.