According to The Portugal News, revenues from tourism activity increased by 9.1% last July, totalling €3.374.65 billion, according to data released by the Bank of Portugal (BdP).
Data from the BdP indicate that revenue from tourism, which is reflected in spending by foreign tourists in Portugal, increased by 282.65 million euros compared to the 3,092.00 million euros recorded in July 2023.
Compared to July 2019, before the COVID-19 pandemic, the growth in tourism revenue is even more notable, as it represents an increase of 1,091.09 million euros, which corresponds to a growth of 47.8%.
The BdP highlights the contribution of tourism exports to the surplus in the balance of services, which “rose from 3,086 million euros to 3,423 million euros”, in a growth that “was transversal to the vast majority of components of the balance of services” and which included “the positive contribution of 283 million euros from travel and tourism, which totalled 3,375 million euros”.
Just like tourism revenue, tourism imports, which correspond to the spending of Portuguese tourists abroad, also showed positive performance last July, totalling 879.53 million euros, an increase of 70.77 million euros, or an increase of 8.7%.
Compared to the results of July 2019, growth reached 46.1%, which represents an increase of 277.46 million euros compared to the 602.07 million euros recorded in the seventh month of last year before the pandemic.
Data from the BdP indicate that revenue from tourism, which is reflected in spending by foreign tourists in Portugal, increased by 282.65 million euros compared to the 3,092.00 million euros recorded in July 2023.
Compared to July 2019, before the COVID-19 pandemic, the growth in tourism revenue is even more notable, as it represents an increase of 1,091.09 million euros, which corresponds to a growth of 47.8%.
The BdP highlights the contribution of tourism exports to the surplus in the balance of services, which “rose from 3,086 million euros to 3,423 million euros”, in a growth that “was transversal to the vast majority of components of the balance of services” and which included “the positive contribution of 283 million euros from travel and tourism, which totalled 3,375 million euros”.
Just like tourism revenue, tourism imports, which correspond to the spending of Portuguese tourists abroad, also showed positive performance last July, totalling 879.53 million euros, an increase of 70.77 million euros, or an increase of 8.7%.
Compared to the results of July 2019, growth reached 46.1%, which represents an increase of 277.46 million euros compared to the 602.07 million euros recorded in the seventh month of last year before the pandemic.