Travel and Tourism in Portugal to 2017

Date: 10-Jun-2013
After declining in 2009 due to the global financial crisis, the rate of inbound tourism within the Portuguese travel and tourism sector improved. The country recorded an increase in the number of international visitors and tourist expenditure, primarily due to the nation’s relative economic stability, tourism authority promotions and the hosting of international events. According to the world travel and tourism council, tourism in Portugal accounted for 15.9% of the country’s GDP in 2012 and represented 18.5% of its total employment figures. The key reasons for Portugal’s popularity with international tourists are its attractive tourist destinations such as Lisbon, Porto, Coimbra, Evora, Guimaraes and Obidos.



The number of domestic tourists in Portugal increased from 8.9 million in 2008 to 14.4 million in2012, representing a CAGR of 12.76% during this period. Trip volumes are anticipated to continue to rise over the next few years and run at a projected CAGR of 3.73% to reach 17.3 million by 2017. The primary reasons for such growth will be relatively stable economic conditions, rising levels of consumer confidence and government initiatives to support domestic tourism. Domestic tourist expenditure is expected to post a CAGR of 3.63% to reach EUR5.4 billion (US$7.0 billion) by 2017.


Portugal’s inbound tourist level grew at a CAGR of 2.31% between 2008 and 2012, increasing from 12.4 million to 13.6 million. Inbound tourist arrivals are expected to reach 16.2 million by 2017, after posting a projected CAGR of 3.53% between now and then. The key drivers of this growth will be perceived economic improvement in key European source markets, greater access to travel services at more competitive rates and government efforts to promote Portugal as an attractive tourist destination.



The Portuguese aviation market is forecast to grow between 2012 and 2017, supported by rising levels of disposable income, improvements in airport infrastructure, better connectivity with key European destinations and the rise of low-cost airlines. Air passenger volumes are expected to record a CAGR 0f 3.09% between now and 2017 before eventually reaching 33.0 million.



As well as this, the value of the Portuguese hotel market expanded at a CAGR of 2.46% between 2008 and 2012, despite a decline of 10.7% in hotel revenue in 2009. This was due to pockets of recovery in 2011 and 2012 when respective CAGRs of 7.6% and 7.8% were recorded. The revenue growth between 2008 and 2012 can be attributed to heightened domestic and inbound tourist volumes. The total revenue is anticipated to increase at a CAGR of 4.19% and will reach EUR1.9 billion (US$ 2.4 billion) by 2017.



Reasons to buy

Stay one step ahead of the industry by understanding the flow of tourists including domestic, inbound and outbound.

Understand where the potential lies within the Portuguese travel and tourism industry by viewing data and forecasts with regards to Airlines, Hotels, Car rental, etc.

Stay ahead of your competitors by taking a look into their company profiles, including TAP Portugal, EuroAtlantic Airways, Europcar, Avis, Hertz, and BCD Travel Portugal.


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