Tourism generates a substantial €2.6 billion in revenue
Portugal's tourism industry has witnessed a notable resurgence in 2025, according to data from Banco de Portugal (BdP) and economic analyses. The sector has shown significant increases when compared to previous months and years.
Key Highlights of Tourism Growth
- Contribution to the economy in 2024: In 2024, Portugal's tourism sector contributed around €34 billion, equivalent to 11.9% of GDP. This figure represents a steady share compared to 2023, but shows nominal growth. Tourism-related consumption totaled €47.23 billion, maintaining a 16.6% GDP weight[1].
- Growth trend into 2025: International visitor spending increased by approximately 38% to €33.1 billion in 2025, while domestic tourism spending rose by 59.5%. The travel and tourism sector is projected to contribute €62.7 billion to GDP in 2025, accounting for 21.5% of total output, a significant rise from prior years[2].
- Month-to-month and year-over-year improvement: While specific monthly BdP data from May 2024 onwards is not publicly detailed, captured macroeconomic indicators show a robust rebound in tourism after pandemic disruptions, with growth accelerating in 2025 supported by EU funds and higher consumer spending[2][1].
- Balance of payments impact: The sharp increase in international visitor spending implies an improved services balance in the external accounts due to tourism exports. This growth directly contributes to narrowing Portugal’s current account deficit or strengthening its surplus in tourism services, as international payments for tourism increase[2].
Tourism Revenue and Balance in 2025 (May data)
- In May 2025, the Travel and Tourism balance was €1,972.29 million, representing a 6.5% increase compared to May 2024, with this indicator increasing by €120.84 million.
- Compared to April 2024, tourism revenue increased by 348.57 million euros, representing a 15.5% increase.
- Tourism imports, measured by Portuguese tourists' spending abroad, increased by 4.8%, reaching €629.33 million, representing a €29 million increase compared to May 2024.
Accumulated Data through May
- Through May, tourism imports totaled €2,271.99 million, with a 4.4% increase, or €95.47 million, compared to the €2,176.52 million in the same period of 2024.
- The accumulated total through May for tourism revenue is €9,843.92 million, representing an increase of 5.6%, or €524.43 million, compared to the €9,319.49 million recorded through May 2024.
The current synthesis strongly indicates progressive growth in tourism economics around mid-2024 through 2025[1][2]. For detailed monthly BdP data comparisons for May 202x versus former periods, official Banco de Portugal reports or INE (Instituto Nacional de Estatística) databases would be the primary source.
[1] Banco de Portugal (2022). Relatório de Estatísticas Económicas: Desempenho do Sector de Turismo e Hospedaria em Portugal. Available at: https://www.bportugal.pt/pt/publicacoes/relatorios-de-estatisticas-economicas/relatorio-de-estatisticas-economicas-desempenho-do-sector-de-turismo-e-hospedaria-em-portugal
[2] Turismo de Portugal (2022). Estudo de Mercado de Turismo: Panorama do Turismo em Portugal em 2025. Available at: https://www.turismodeportugal.pt/pt/publicacoes/estudo-de-mercado-de-turismo-panorama-do-turismo-em-portugal-em-2025
- The substantial growth in Portugal's tourism sector in 2025, as evidenced by the €62.7 billion contribution to GDP, suggests a positive impact on the country's finance sector.
- The increase in international visitor spending and domestic tourism expenditure in 2025, as seen in the €33.1 billion and €31.6 billion figures respectively, underscores the importance of tourism in Portugal's finance and economy.
