Portuguese tourism on track for a historic year, says WTTC

19-07-23

The World Travel & Tourism Council's (WTTC) Economic Impact Study (EIR) 2023 reveals that the Portuguese travel and tourism sector is expected to surpass the peak reached in 2019 this year.

According to the report, the sector will contribute €40.4 billion to the Portuguese economy by the end of 2023, surpassing the pre-pandemic 2019 peak of €40.1 billion.

WTTC also forecasts that the sector will create around 30,000 jobs this year, just 68,000 jobs below the 2019 level of just over one million, to reach 950,000 employed by Travel & Tourism.

Last year, the Travel & Tourism sector's contribution to GDP grew by 61.6% to almost €38 billion, representing 15.8% of the Portuguese economy.

The sector also created 83,000 more jobs than the previous year, reaching 921,000 jobs nationally.

The latest report from the world tourism body shows that the sector has already recovered more than 90% of the pre-pandemic employment level.