Tourism in Portugal strengthens its relative weight in the total economy, reaching historic highs in 2023
In 2023, the Gross Value Added generated by Tourism (GVAGT) and Tourism Consumption in the Economic Territory (TCET) recorded nominal increases of 16.0% and 15.5%, showing greater dynamism than the national economy (national GVA and GDP grew by 10.1% and 9.6%, respectively).
GVAGT represented 9.1% of national GVA in 2023 (8.6% in 2022) and TCET was equivalent to 16.5% of GDP (15.6% in 2022), thus reinforcing its relative weight in the total economy and reaching historic highs.
Tourism is therefore estimated to have generated a direct and indirect contribution of 33.8 billion euros to GDP in 2023, corresponding to 12.7 per cent (12.1 per cent in 2022 and 7.8 per cent in 2021).
These results reflect a contribution of 1.1 percentage points (p.p.) to real GDP growth in 2023 (2.3%).
Source: INE
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