The Portuguese Tourism Confederation (CTP) estimated today that the sector will finish 2018 with “a good performance“, a stabilization of overnight stays and a new record in tourism revenues of around 17 billion euros.
“Everything indicates that we will close 2018 with about 57 million overnight stays and 21 million guests, which means that we are experiencing a moment of stabilization of our tourism,” CTP said in a statement.
Tourist revenues are expected to reach a record 17 billion euros, an increase of 12% compared to 2017, he says.
The confederation recalls that the growth cycle began in 2013, when 43 million overnight stays and 15 million guests were registered, a growth of 32.5% and 40%, respectively, in five years.
“These are numbers that prove well the excellent performance of our activity, which reflects well the effort of our businessmen, the quality of our offer and the services provided,” said the president of the CTP, Francisco Calheiros, quoted in the document.
Regarding hotel revenues, the confederation expects an increase of around 6%, reaching 3.6 billion euros.
RevPar (average price per room available) will also grow by about 5.3%.
The CTP also highlights the number of passengers landed at national airports, which are expected to reach 27.4 million passengers (7% more than in 2017), as well as the increase in cruise passengers with 1.4 million passengers ( plus 12%).
Tourism spending, meanwhile, is expected to reach 4.6 billion euros, with the tourism balance posting a positive balance of 12.4 billion euros, up 14% over the previous year.
This means, according to CTP, that “tourism will continue to be the largest export activity in our country and the main source of trade balance financing.”
Revenues from air travel should also reach a historic value of € 4.7 billion, an increase of 8% compared to 2017, and compared to these figures, the balance of the tourism balance is expected to reach € 15 billion, adds the confederation.