According to preliminary data from the Regional Accounts of the National Statistics Institute (INE) for 2023, the real growth of 2.5% in the country's GDP allowed it to resume “a growth rate close to the last pre-pandemic year”, translating into high “in all regions”.

The sharpest increase was in the Autonomous Region of Madeira (4.5%), followed by the Autonomous Region of the Azores (3.4%), Algarve and Greater Lisbon (both with 3.3%).

The North region (2.3%) recorded “slightly lower growth than the country”, while the Setúbal Peninsula (1.7%) and the Center (1.4%) showed “more moderate growth” and the Alentejo “ the weakest performance” (0.4%).

In the autonomous regions of the Azores and Madeira and in the Algarve, the real increase in GDP resulted “mainly from the more dynamic growth” of GVA [gross value added] in the commerce, transport, accommodation and catering sectors, “an activity with relevance in the productive structure of these regions and strongly influenced by tourist activity”, which registered an increase in the volume of 6.7%, 5.6% and 4.7%.