2025 set to match historic efficiency as sector builds on record-breaking 2024
New information from the World Journey & Tourism Council (WTTC) reveals Portugal’s Journey & Tourism sector is ready to proceed rising in 2025, following a landmark 12 months in 2024 that noticed the business surpass all earlier peaks throughout financial contribution, employment, and customer spending.
Based on the most recent Financial Affect Analysis (EIR), developed in collaboration with Oxford Economics, Journey & Tourism in Portugal is forecast to contribute €62.7BN to the nationwide economic system this 12 months, representing 21.5% of GDP, and towering above the 2019 peak by almost 38%.
The sector is predicted to help 1.2 million jobs throughout the nation; that’s shut to 1 in 4 jobs in Portugal, 200,000 greater than at its earlier excessive.
Worldwide customer spending is projected to develop to €33.1BN, whereas home spending is forecast to succeed in €22.9BN, rising by 24.2% and 59.5% on 2019 ranges, respectively, reflecting continued power in each inbound and native demand.
A Look Again to 2024
These 2025 projections construct on a unprecedented efficiency in 2024, when Portugal’s Journey & Tourism sector reached its highest ranges on file.
Final 12 months, the sector contributed €60.6BN to the economic system, equal to 21.3% of nationwide GDP, and supported 1.2 million jobs, equal to just about 23% of complete employment.
Worldwide customer spending surged to €31.8BN, whereas home tourism contributed €22.2BN, marking all-time highs for each indicators.
A Look Forward to 2035
WTTC’s long-term outlook alerts even larger potential within the years to return.
By 2035, Journey & Tourism in Portugal is projected to contribute greater than €74.6BN to GDP, accounting for 22.6% of the nationwide economic system. The sector is predicted to help 1.4 million jobs, reinforcing its function as a significant engine of financial alternative and social improvement.
Spending by worldwide guests may attain €40.6BN, whereas home spending is forecast to rise to €25.8BN, confirming the sector’s central function in Portugal’s long-term financial technique.
A Glimpse into the European Union
In 2024, the EU Journey & Tourism sector contributed virtually €1.8TN to the area’s GDP, representing greater than 10% of the Bloc’s economic system, and above 2019 ranges by virtually 6%. The sector’s employment grew by 4.7%, year-on-year, to 24.6 million jobs, accounting for one in 9 jobs throughout the area.
By the tip of 2025, WTTC forecasts that the EU Journey & Tourism sector will attain virtually €1.9TN, representing 10.5% of the EU economic system. Employment linked to the sector is estimated to complete 25.7 million individuals, or 12% of the regional complete.