📈 Fed's first cut since 2020: Time to buy the dip? See Tech-focused stock picksUnlock AI Picks

Foreign tourism to Portugal registers best-ever first half

Published 08/14/2023, 08:22 AM
Updated 08/14/2023, 08:26 AM
© Reuters. FILE PHOTO: Tourists take a photo near a beach in Cascais, Portugal, June 6, 2022. REUTERS/Pedro Nunes/File Photo

LISBON (Reuters) - The number of foreign tourists visiting Portugal surpassed eight million in January-June, making it the best first half on record, official data showed on Monday.

The National Statistics Institute said nearly 8.2 million foreigners stayed in Portuguese hotels in the period, up from 6.3 million a year ago and 7.4 million in the first six months of 2019, a record year for tourism before the COVID-19 pandemic crippled global travel in 2020.

Tourism, a key driver of Portugal's economy, accounted for almost 15% of gross domestic product before the pandemic.

Visitors from Britain made up the largest share of total arrivals in the first half, with over one million visitors, closely followed by the Spanish and U.S. markets.

In June, the United States, which has significantly grown as a source of tourism to Portugal, represented the second-largest group of foreign visitors.

The INE said the hotel sector registered 13.6 million guests, including local travellers, in the first half, while total hotel revenues increased 32% year-on-year to 2.5 billion euros ($2.73 billion).

In a separate report, the INE said the number of passengers who travelled through Portuguese airports in the first six months jumped almost 30% from a year ago and rose 12% compared to the first half of 2019.

© Reuters. FILE PHOTO: Tourists take a photo near a beach in Cascais, Portugal, June 6, 2022. REUTERS/Pedro Nunes/File Photo

According to the International Air Transport Association, international travel reached around 90% of pre-pandemic levels this year, with the rebound being led by visitors to Southern Europe.

($1 = 0.9142 euros)

 

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.