Tourism and Hospitality
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Tourism activity recorded double-digit growth from 2013 onwards, when Portugal gained prominence in international markets as a sun and beach tourism destination and distinguishing itself with a distinct cultural and gastronomic wealth.
This led Portugal to be recognised as the best tourist destination in Europe and/or the World between 2017 and 2020 by the World Travel Awards. Strong external demand brought the entry of international chains into Portugal, raising the quality standards of the hotel sector.
The tourism and hospitality sectors became professionalised, which was also evident during the pandemic as operators managed to sustain the level of average prices charged despite the impact of reduced occupancy rates on total revenues.
Even so, the opening plans of hotel establishments continued with expectations of tourism recovery in the short term, as Portugal maintains its market fundamentals.
For further information, please consult our market studies or contact us.
Source: WORX/LPI
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