Expectations for travel in 2024 are high, with all indicators pointing to continuous growth, suggesting that 2024 will surpass 2023 values. Portugal's diversity, authenticity, attractiveness, safety, and commitment to sustainability are crucial factors driving the country’s increasing popularity.
Despite economic uncertainty, demand for travel remains strong in 2024. Consumers increasingly view travel as a priority, driving spending on travel and airlines.
2023 was the best year ever for tourism in Portugal, with the number of guests and overnight stays surpassing pre-pandemic levels, driven primarily by the recovery and growth of international markets. With both domestic and inbound flows on the rise and average daily rates increasing, 2024 is expected to see solid growth over 2023 results.
Despite uncertainty and the loss of purchasing power since 2022, Portuguese consumers are buying trips in record numbers in 2024, making this a standout year for agencies operating in the national market. In Portugal, Madeira and the Azores continue to grow in popularity, while high prices in the Algarve are limiting the region’s growth.
The outlook for Portugal’s travel industry over the coming years is positive, with projected growth in airlines, lodging, in-destination spending, and booking. The industry is in constant evolution, with digital transformation and the ability of companies to adapt to technological advances representing the biggest challenges ahead.
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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.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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
Travel encompasses several categories including tourism flows, lodging, travel modes, in-destination spending and booking.
See All of Our DefinitionsThis report originates from Passport, our Travel research and analysis database.
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