Desk Report: Portugal's 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.

The balance of the Travel and Tourism item also increased, reaching 2,495.11 million euros in July, which represents an increase of 9.3% or 211.87 million euros compared to the same month last year.

Compared to July 2019, the increase in the Travel and Tourism balance reached 48.4%, which indicates an additional 813.62 million euros collected in this indicator.

Accumulated up to July, it is already close to 15 million euros

Accumulated since the beginning of the year, the news is equally positive, since tourism revenues are already close to 15 billion euros, according to data released by the BdP.

Up to July, tourism revenues totalled 14,970.5 million euros, which represents an increase of 11.1% compared to the 13,476.22 million euros recorded in the same period last year, an increase that reaches 1,494.28 million euros.

Like tourism revenues, tourism imports also increased in the first seven months of 2024, reaching 3.685 billion euros, a figure that is 7.5% higher than that recorded in the same period last year, representing an increase of 258.06 million euros.

The accumulated balance of travel and tourism also increased, now standing at 11.285 billion euros, representing an increase of 12.3%, or 1.236 billion euros more. Portugalnews.24.com.

Biniyougbarta/Sam//