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Portugal Enjoys the Highest Tourism Growth in Europe
The World Travel & Tourism Council (WTTC) has recently published interesting data regarding the growth of the travel & tourism industry across Europe. It turns out that Portugal has the most dynamically developing tourism in Europe as this country tops the list of the fastest-growing markets in the region.
WTTC praised the efforts of the Portuguese government and once again emphasized the importance of the tourism sector for economies of countries. For example, the Travel & Tourism industry in Portugal contributed 38.4 billion euro to the economy of the nation, reaching a growth rate of 8.1% in 2018. This is the highest result among all European countries.
Here is a simple example that perfectly describes the importance of tourism for the country. Last year, one-fifth of all money generated in Portugal came from tourism. The Travel & Tourism industry also created one job in five in the whole country, so any decline in tourism to the country could potentially lead to severe unemployment. Needless to say, popular destinations benefit the most from Travel & Tourism. As a rule, tourists prefer to book hotels in Lisbon, choose to stay in Porto or look for Lagos hotels, but the whole country feels the positive effect.
The research provided by WTTC highlights some interesting facts. As the average level of tourism growth in the European Union is 3.1%, Portugal is far ahead with its fantastic result of 8.1%. No other country in the EU can compete with this achievement. At the moment, 1.05 million people work in the Tourism & Travel sector in Portugal. This industry creates 21.8% of all jobs in the country. Portugal is a lot more popular as a leisure destination rather than a business travel destination. The vast majority of travelers (85%) come to Portugal for a vacation or holiday. The share of business guests is significantly lower – 15%. Finally, international tourists make up the majority of Portugal’s guests. The ratio of international vs. domestic tourists is 69% vs. 31%.
Even though Portugal’s tourism has been growing so fast, WTTC doesn’t predict any slowdown. This year, the forecasted growth of the sector is 5.3%, which is significantly higher than the average European growth of 2.5%. The famous World Travel Awards has given Portugal the title of the Best World Destination and the Best Tourist Destination in Europe for the last three years, so it is clear that the country will keep attracting new guests.
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