Portugal experienced a remarkable surge in tourism in 2023, welcoming 26.5 million foreign visitors. This represents a 19.2 percent increase from the previous year, according to the National Statistics Institute.

Key Takeaways

• Record-Breaking Numbers: 26.5 million foreign tourists visited Portugal in 2023.
• Significant Growth: This marks a 19.2 percent increase compared to 2022.
• Pre-Pandemic Comparison: The 2023 figures are 7.7 percent higher than those in 2019, the last full year before the Covid-19 pandemic.
• Top Source Countries: Spain, Britain, and France were the leading sources of tourists.
• Economic Impact: Tourism contributes around 12 percent to Portugal’s GDP.
• Economic Growth: Portugal recorded a 2.3 percent economic growth in 2023, one of the highest in the EU.

Tourism Boom

Portugal’s tourism sector has seen a significant rebound, with 26.5 million foreign tourists visiting the country in 2023. This is a 19.2 percent increase from the previous year and a 7.7 percent rise compared to 2019, the last full year before the Covid-19 pandemic.

Leading Source Countries

The National Statistics Institute reported that the majority of tourists came from:

1. Spain: 5.7 million visitors
2. Britain: Close to 3 million visitors
3. France: Close to 3 million visitors

Economic Contributions

Tourism is a vital part of Portugal’s economy, accounting for approximately 12 percent of the country’s gross domestic product (GDP). The surge in tourist numbers has significantly contributed to Portugal’s economic growth, which stood at 2.3 percent in 2023. This growth rate is among the highest in the European Union.

Future Projections

Looking ahead, the Portuguese government and the Bank of Portugal have optimistic forecasts for the country’s economic growth. The government expects a growth rate of 1.5 percent in 2024, rising to 1.9 percent in 2025. The Bank of Portugal is slightly more optimistic, forecasting a growth rate of 2 percent in 2024 and 2.3 percent in 2025.

Conclusion

Portugal’s record-breaking tourist numbers in 2023 highlight the country’s growing appeal as a travel destination. With significant contributions to the economy and optimistic future projections, Portugal’s tourism sector is poised for continued success.