According to the latest data from the WTTC, in collaboration with Oxford Economics, a surge of 24.3 percent is expected compared to 2019, representing 20 percent of the national economy, cementing the sector's role as a key economic driver.

According to the organisation, the sector is set to support 1.14 million jobs, representing an increase of 126,000 jobs compared to 2019 levels.

As the government continues to prioritise Travel & Tourism, spending by both international and domestic tourists is expected to reach €30.7 billion and €17.9 billion, respectively.


A look back on last year

In 2023, Travel & Tourism’s contribution surged by 8.6 percent to reach €52 billion, representing 19.6 percent of Portugal’s total economic output, 19.5 percent above the 2019 peak.

The sector supported 1.11 million across the country, adding 91,000 jobs on top of the previous 2019 employment peak.

Spending by international visitors rose by 9.2 percent to €29.6 billion, while domestic tourism spending climbed nearly 5 percent to €17.2 billion.

Julia Simpson, WTTC President & CEO, said: “Tourism in Portugal is a cornerstone of the country’s economy, driving growth and contributing 1.1 million jobs.

“The Government’s efforts to boost tourism have played a key role in attracting more visitors to the country, leading to unprecedented growth and opportunities.

“The ongoing influx of tourists from around the world has resulted in substantial economic contributions and Portugal is a top travel destination, and the sector’s future looks exceptionally promising.”

What does the next decade look like?

The outlook for the next decade is exceptionally bright, according to WTTC forecasts. By 2034, the sector is expected to significantly boost Portugal’s economy, contributing an estimated €66.5 billion – 22.4 percent of the total economy.

This growing sector is also projected to be a major source of job creation, expected to provide employment for nearly 1.4 million people nationwide, representing one in every four workers.

The WTTC concludes that: “The next decade is poised to be a period of remarkable growth and transformation for Portugal's Travel & Tourism sector”.