Tourism is growing and growing, and rental prices are up and up. I know small places on the island that are fully booked till October / November, and getting double the normal rental cost they would normally receive due to demand, and these are places not always popular with tourists, showing that the new generation of tourist coming, is happy to be further out of the cities.
Tourism in Madeira is on the rise and has served as a lever for the regional economy, an effect that the regional secretary for Tourism and Culture believes should continue this summer. Eduardo Jesus even emphasizes that this was the best month ever in terms of income from tourist accommodation, with several foreign markets responding to the offer.
“This is excellent news with regard to the recovery that is taking place via the tourism sector, in which for the second consecutive month we are growing above 25% compared to the reality we had in 2019”, comments the figures released this morning by INE. and by the Regional Directorate of Statistics, which highlights, for example, that “the volume of overnight stays is the highest ever in the month of May and the fourth highest in absolute monthly terms, only surpassed by the values of August between 2017 and 2019”.
In the official’s view, “the important thing is that all indicators are growing, not just overnight stays, but also value indicators. RevPAR (revenue per available room) is substantially higher than in 2019, total income reaches and exceed 50 million euros – and I remember that last year we achieved this in August, still under the pandemic effect [actually it was 49.9 million euros and now it has been 50.1 million euros] -, which makes , without a doubt, the best month, in terms of income in the sector, of our entire history of tourism here in the Autonomous Region of Madeira”, he reinforces.
He adds: “It is a month of May that consolidates the trend that we have been seeing, with excellent performance by the entire sector, both in terms of occupancy rates and in terms of disposable income for each room. consolidates the recovery of Madeira’s main markets. I am naturally referring to the Portuguese, English and German markets, which responded in the affirmative and made an excellent contribution to the entire regional economic dynamics.”
Eduardo Jesus concludes, perspecting that “this recovery, with values that are record, will be maintained during the summer”, he concludes.