🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Portugal tourism up in 2008, but slowing sharply

Published 02/12/2009, 07:32 AM
Updated 02/12/2009, 07:40 AM
TTEF
-

LISBON, Feb 12 (Reuters) - Portugal's hotel sector saw a 13 percent slump in the number of foreign tourists in December as the world economic crisis clipped travellers' wings, but for all of 2008 it still eked out 1 percent growth in arrivals.

The National Statistics Institute said on Thursday almost 7.12 million tourists stayed in Portuguese hotels and inns last year, up from 7.05 million in 2007.

Although modest, the rise contrasts with Iberian neighbour Spain's 3 percent decline -- the first fall in foreign arrivals there in at least 13 years.

Portugal, with its sunny beaches, beautiful historic sites and some of Europe's finest golf courses, is cheaper to live in and visit than most of western Europe, which attracts tourists.

Nevertheless, the institute said the numbers in the second half of 2008 clearly showed a declining trend, with the strong fall in December to 303,000 foreign visitors.

The number of nights tourists spent in Portuguese hotels fell over 2 percent for the year and plunged 14 percent in December compared to a year earlier. An average tourist's stay, including domestic tourism, was 2.3 nights.

Hotels' total revenues rose almost 1 percent to 1.96 billion euros last year, but fell 16 percent in December.

Tourism is an important source of income for the Portuguese economy, with all tourism-linked revenues accounting for over 10 percent of the gross domestic product in 2007. The number of foreign visitors to Portugal is well below Spain's 57 million, but exceeds some 5 million visiting Brazil annually.

Britain, Germany, Spain, the Netherlands and France remained the main sources of foreign tourism for Portugal, the institute said. The number of nights spent by Spanish tourists in Portugal fell the most, by 9.2 percent, in 2008. (Reporting by Andrei Khalip; Editing by Ron Askew)

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.