PORTUGAL TOURISM CASHES 3 BILLION EUROS

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Last year tourism revenues beat all the records in the industry, generating in excess of 3 billion Euros, an essential factor to achieve a growth of 2.7% in Portugal’s economic recovery.

Portugal peaceful and safe environment for visitors may have added to the boost of tourism, contrasting with political and social instability in previously popular international destinations.

Portuguese hotels occupation exceeded 20 million tourists, a confirmation that tourism continues to break records and is a decisive dynamic for the expansion of the Gross Domestic Product.

The tourist activity boosted up directly other areas of economic activity, such as real estate, construction and multi segments of the services industry.

Portuguese annual GDP growth of 2.7%, reached the highest pace of the last 17 years, competing in growth statistics with Germany and Spain, economies that have grown in the fourth quarter of last year respectively 2.9% and 3.1%.

Tourism and exports have been the main drivers of the Portuguese economy, followed by the energy sector and the domestic demand.

Moreover tourism has contributed for the popularity of Portuguese wines, helping to improve quality image among international visitors and consumers in recent years.

After tourism wine is seen as a champion of the Portuguese economy, benefiting from the success of Portuguese of international competitions and increasing international media exposure.

A robust investment in the of the industry has increased quality and awareness of Portuguese wines, as proven by statistics that showed the existence of 841 Portuguese wine producers in 2011, a number that rose to 1,226 in 2014.

Latest trade sources claim there are now more than 2,900 producers in Portugal, and over 10,000 wine brands.

 

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