The tourism industry was one of the most affected industries by the COVID-19 pandemic in Portugal. The successive confinements, prohibitions and global restrictions led to the closure of hotels, the suspension of flights and cruise lines.
After strong constraints on air flights and traffic, the airlines industry continues on a recovery path. New routes such as Porto-Reiquejavique or Faro-Rome emerged in 2023, helping to boost airlines.
Hotels is set to see growth in 2023 amid rising arrivals and a domestic market that remains strong despite the rising cost of living. Portugal's positioning of good value for money in international markets has been fundamental for tourist flows.
Higher travel prices and the rising cost of living have not curbed the Portuguese appetite to travel. Demand for Easter and summer bookings were strong during the first months of 2023 although they did lose some steam as inflation, interest rates and economic slowdown had an effect on consumption.
The outlook seems bright for the Portuguese travel industry over the forecast period, with the number of tourists growing on a year-on-year basis and investments proliferating, increasing bed nights capacity, improving the experiences offer and adding value to the country as a destination. However, despite the positive outlook, the scenario remains complex.
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Understand the latest market trends and future growth opportunities for the Travel industry in Portugal with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Travel industry in Portugal, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Travel encompasses several categories including tourism flows, lodging, travel modes, in-destination spending and booking.See All of Our Definitions
This report originates from Passport, our Travel research and analysis database.
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