Tourism contribution to GDP in Portugal 2019-2024

Portugal experienced a recovery of over 30 percent in the total travel and tourism contribution to its gross domestic product (GDP) in 2021, after a strong drop due to the coronavirus (COVID-19) pandemic. Prior to this crisis, this sector represented over 40 billion U.S. dollars of the Portuguese economy. By 2024, more than 58 billion U.S. dollars were forecasted as contribution to the country's GDP.

Tourism spending in Portugal

In 2022, Portugal's tourism services generated a sales revenue close to 33 billion euros, signalizing the start of the recovery for this sector. Furthermore, inbound tourism expenditures in the Iberian country for the same year reached 21 billion euros, representing a increase of 28.3 percent from the previous year. In 2021, despite an increase in expenditure and revenue, the contribution of visitor spending to the Portuguese exports of services remained at a similar level than in 2020.

How many travelers make their way to Portugal each year?

In 2022, Portugal witnessed a remarkable increase in the number of international overnight visitors, with the figure reaching nearly 47 million – only around 2.5 million less than in 2019. The recovery of the Portuguese tourism sector from the coronavirus (COVID-19) pandemic can also be seen in monthly development. While in 2020 and 2021, the usual influx of foreign guests in Portuguese accommodation establishments during the summer season was affected by the global health crisis, the country saw a return to normality in 2022 with August reaching the annual peak of 1.96 million travelers.