08 Dec 2022

Portugal: Moneris publishes new edition of the Tourism Yearbook

2021 was undeniably a year of recovery, after a highly difficult period in which the tourism sector was devastated by the restrictions imposed across the world. MSI's Portuguese accounting member Moneris provides a comprehensive overview of Portugal's tourism sector.

From all perspectives, whatever the indicators, domestic tourism has shown its strength and that it is ready for a new phase, even though it has not immediately recovered to pre-pandemic levels (nor should we expect it to). Thus, in 2021 the number of guests, number of room nights, RevPar, and total revenue increased significantly across all regions. This year has shown highly positive behaviour repeatedly and consistently over the first 6 months, which means a return to 2019 levels remains debatable, but is definitely achievable. If it does take place, it would be an impressive achievement, reaching the sector’s highest expectations one to two years early.

The hope of a consistent recovery is well-founded and based on legitimate expectations in view of the sector’s current performance.

Reviving tourism. Building the future.

In early 2021, the “Reviving Tourism. Building the future.” action plan was launched. The intention of this plan was to provide a guide towards the recovery of the domestic tourism sector, by encouraging operators, mobilising institutions and promoting the recovery of what is unquestionably one of the most significant activities for creating employment, exports and national wealth.

Around 80% of the expected 52 measures have now been launched with investment that has to date reached more than 2 million euros (of an expected total of more than 6 million euros).

Transforming tourism

In addition, at the end of 2021 a new programme was launched, called “Transforming tourism”. This programme is designed to support the sector in making tourism increasingly sustainable, responsible and intelligent through the development of innovative products, services, and businesses which improve the country and bring competitive advantages to organisations as well as tangible social benefits and a positive impact on the environment.

This programme, which began with funding of 20 million euros, should be developed and implemented over the course of two years, ending in 2023. The Transforming Tourism Programme is progressing towards transforming tourism in order to respond to the sector’s new needs and consumer interests, and to strengthen its dynamics, with a view to exceeding the objectives and goals of economic, environmental and social sustainability set out in the Tourism Strategy 2027.

Download the full report and Tourism Yearbook Edition 2022 >>