This year, Portugal’s tourism industry reached a major milestone, breaking previous records and contributing more than €54 billion to the country’s economy.

A recent estimate from the World Travel & Tourism Council (WTTC) states that the tourism industry contributed 20% of the country’s GDP in 2024, a phenomenal gain of 24.3% from 2019. It is anticipated that this expansion will sustain 1.14 million jobs, an increase of 126,000 jobs above pre-pandemic levels.

The WTTC research also predicts favorable results for domestic and international visitor spending, with €17.9 billion and €30.7 billion estimated to be spent domestically and abroad, respectively.

The WTTC predicts that in 2034, the tourist industry would continue to expand and contribute about €66.5 billion, or 22.4% of Portugal’s overall GDP, to the country’s GDP. Significant increases in employment growth are also expected, with 1.4 million jobs (or one in four jobs) to be created nationally.

When it comes to tourism-related spending, overseas spending climbed by 9.2% to reach €29.6 billion last year, while domestic spending grew at a slower rate of about 5% to reach €17.2 billion.

Together with other important markets like Switzerland, Spain, France, Belgium, the United Kingdom, and Canada, Brazil and the United States emerged as major contributors to the number of tourists visiting Portugal in 2023.

March 2023 showed a noteworthy growth of 9.3% from March 2022 to March 2023, with the UK continuing to be the leading source of overnight stays in Portugal. Germany and Spain also saw 

significant growth, with Spain topping the list of important markets with a growth rate of 47.5%. Overnight stays increased throughout Portugal, with the West, Tagus Valley, Center, and Alentejo regions showing the greatest rise.