Tourism has an increasing weight in the national economy. According to data released by INE – National Statistics Institute, the consumption of tourism in Portuguese territory reached, in 2017, the mark of 13.7% of GDP – Gross Domestic Product, which corresponds to 26.7 billion euros .
“This result shows a growth of 14.5% compared to 2016, a year in which tourist consumption in Portugal was 12.5% of GDP. Since 2014, in fact, the annual growth of this indicator was 0.3 points, reason why last year’s registration (+1.2 points, four times more) becomes even more significant “, according to a statement from the Secretary of State for Tourism, quoted by the Economic Journal.
It is added that the weight of foreign tourists in tourism consumption in the territory also increased, between 2014 and 2017, from 61.2% to 63.1%.
Also, the Gross Value Added (GVA) generated by tourism registered a significant increase, from 6.9% in 2016 to 7.5% last year, according to Jornal Económico.
“On the other hand, employment in tourism also continues to grow in a sustained manner, accompanying the dynamism of this activity throughout the year. According to the INE, in 2016 tourism employment increased by 4.8% to a total of 417,000 full-time ties, which represented 9.4% of national employment in that year. And in 2016, tourism remuneration grew by 7.6%, more than in 2015 (5.7%), “the statement added.