Econostrum | Economic News in the Mediterranean

Covid cuts 64% of Portugal's tourism receipts

Written by Gérard Tur on Tuesday, November 17th 2020 à 16:15 | Read 405 times

Without tourists, Portugal loses one of its economic pillars (photo: GT)
Without tourists, Portugal loses one of its economic pillars (photo: GT)
PORTUGAL. In a press release published on 6 November 2020, the National Institute of Statistics of Portugal (Ine) confirms the black year that the country is experiencing in terms of tourism. Over the first nine months of the year, the number of tourists fell by 59.3% (-73.8% of foreigners) and the number of overnight stays by 61.3% (-73.4% of foreigners). This drop in tourism translates into a turnover of €1.232 billion, down 64.5% compared with the first nine months of 2019.

More than 130,000 Portuguese companies employing 400,000 people are threatened by the closure of a sector that represents 8.7% of the country's GDP. 26 million foreign tourists visited Portugal in 2019.


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