Portugal’s Travel & Tourism Sector Continues Steady Growth
New data from the World Travel & Tourism Council (WTTC) shows Portugal’s Travel & Tourism sector is expected to grow further in 2025, following a strong year in 2024 that saw new highs in economic contribution, employment, and visitor spending.
According to the latest Economic Impact Research (EIR) conducted by Oxford Economics, the sector is forecast to contribute €62.7 billion to Portugal’s economy this year—approximately 21.5% of GDP—nearly 38% higher than the previous peak in 2019.
Employment is expected to reach 1.2 million jobs, accounting for nearly one in four jobs in the country and surpassing the previous record by around 200,000.
International visitor spending is projected to grow to €33.1 billion, while domestic spending could reach €22.9 billion, representing increases of 24.2% and 59.5% compared to 2019, demonstrating strength in both international and domestic travel.
2024 Overview
In 2024, the sector contributed €60.6 billion to Portugal’s economy (21.3% of GDP) and supported 1.2 million jobs, about 23% of total employment. International visitor spending reached €31.8 billion, and domestic tourism spending rose to €22.2 billion—both at their highest levels to date.
2035 Outlook
By 2035, Portugal’s Travel & Tourism sector is expected to contribute €74.6 billion to GDP (22.6% of the economy) and support 1.4 million jobs. International visitor spending is projected to reach €40.6 billion, while domestic spending is expected to grow to €25.8 billion.
EU Perspective
In 2024, the EU’s Travel & Tourism sector contributed nearly €1.8 trillion to GDP (more than 10% of the region’s economy), exceeding 2019 levels by almost 6%. Employment rose by 4.7% year-on-year, with 24.6 million jobs (one in nine across the region).
By the end of 2025, the sector’s contribution to the EU is expected to reach €1.9 trillion, or 10.5% of the economy, supporting 25.7 million jobs—around 12% of the total workforce.
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