Generates substantial income of €2.6 billion from tourism
Portugal's Tourism Sector Continues to Thrive
Portugal's tourism sector has shown a remarkable recovery in the past year, with continued growth and positive travel and tourism balances. According to recent data, tourism revenue reached €34 billion in 2024, accounting for 12% of the country's GDP.
In May 2024, foreign tourists spent 149.84 million euros more compared to the same month in 2024, bringing the total tourism revenue to €9,843.92 million through May. This represents a 15.5% increase compared to April and a 5.6% overall increase compared to the same period in 2024.
The growth in tourism revenue was also reflected in the travel and tourism balance, which reached €7,554.44 million through May, an increase of 5.6%, or €402.47 million, compared to the balance recorded between January and May 2024. In May alone, the travel and tourism balance was €1,972.29 million, an increase of €120.84 million compared to the same month in 2024.
Tourism imports, measured by Portuguese tourists' spending abroad, also saw an increase. Through May, tourism imports increased by 4.8%, reaching €629.33 million in May. Portuguese tourists spent 4.8% more abroad in May compared to the same month in 2024.
However, there was a slight decrease in Portuguese travel abroad, with a contraction of €4.4 million or 0.7% compared to April. This contraction might be attributed to the increased domestic tourism demand, which saw a 5.8% increase compared to the previous year.
Looking at monthly trends in 2025, June showed sustained tourism performance with 3.1 million guests, over 8 million overnight stays, and revenue reaching €751.8 million. This indicates steady year-on-year growth, despite some source markets like France and Brazil experiencing a decline, while others like Germany and Canada grew.
The government expects a 3-4% increase in tourist numbers and a 6% rise in tourism revenue for 2025 compared to 2024, projecting total annual revenue around €30 billion. This suggests ongoing recovery and resilience in the sector despite slower growth than in previous years.
In summary, Portugal's tourism sector remains a vital economic driver with improving revenues and travel balances since May 2024 but with moderated growth compared to the peak post-pandemic recovery period. The sector's continued growth and resilience bode well for Portugal's economic future.
References:
- Portugal News
- Statista
- TravelDailyNews
- Euromonitor International
Portugal's thriving tourism sector has not only led to a significant increase in finance, contributing €34 billion to the country's GDP in 2024, but also stimulated business growth, as demonstrated by the 15.5% increase in tourism revenue compared to April 2025. With the government projecting a 3-4% increase in tourist numbers and a 6% rise in tourism revenue for 2025, it's clear that the finance and business sectors are set to continue benefiting from Portugal's tourism boom.
