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54 pages, Aug 2016
€1 750Added to Cart
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
Travel is very important to the Portuguese economy as it generates employment and boosts GDP. Given the significance of this industry to the country’s economy, the Portuguese government has developed a strategy designed to further its development over the coming years. Beyond the reinforcement of international relations with important source countries, its Portugal 2020 programme will focus on the overall reinforcement of Portugal’s competitiveness and general visibility. The funds provided by the Portugal 2020 strategic plan will help national and regional tourism entities to better promote the country’s touristic offer, efforts that should continue to boost the number of arrivals.
Online sales continued to grow in 2015. As social media and new online marketing tools are developed and improved constantly, the online channel was able to reach an increasing number of customers, providing a very practical tool to buy and compare various options. Advertising and marketing was strongly targeted and new and more varied payment options were available for customers. Both direct sales and intermediaries sales benefited from the growth of online sales. However, it is difficult for players to compete against strong search engines and intermediaries, and companies need to strive hard in order to remain competitive in this channel.
During a complex privatisation process in 2015 that was finally completed in 2016, TAP employees went on strike during key busy periods, actions which undermined the company’s financial health and profit margins. However, despite the conflict, in the agreement which was finally reached, the Portuguese government retains a 50% ownership stake of the company. The remaining shares are held by Gateway consortium, which retained a 45% stake, with the remaining stake retained by TAP’s employees.
The rise of low cost carriers brought a new wave of international tourists to the country and contributed to the dynamism of domestic tourism. Despite seeking the best deals on lodging, some tourists preferred to save on travel in order to increase their available budget for accommodation. Budget lodging was particularly boosted by the growing number of quality hostels in the country and the increased recognition of peer-to-peer platforms, such as Airbnb. The lower price platforms of luxury lodging in the country compared to other European destinations also boosted demand for luxury lodging.
Tourism will continue to have a significant impact on the country’s GDP, which will encourage both the government and private entities to invest in the market’s further development. The Portugal 2020 plan has set out a goal to improve the infrastructure and help entrepreneurs provide a higher quality of services. With a diverse tourist offer, Portugal is anticipated to attract a rising number of overseas tourists, while technology is expected to be one of the most important drivers of the market.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Travel industry in Portugal with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Travel industry in Portugal, our research will save you time and money while empowering you to make informed, profitable decisions.
When you purchase this report, you also get the data and the content from these category reports in Portugal for free:
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This industry report originates from Passport, our Travel And Tourism market research database.
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