2023 Tourism New Record: Holiday rental revenue up 20%

Source: The Portugal News

In 2023, 77.2 million overnight stays were recorded, 10.7% more than in the previous year, growth which was mainly sustained by the arrival of foreign tourists. And, as a result, 6.0 billion euros of total income were generated, 20.1% more than in the previous year and 40.2% more compared to 2019, before the pandemic.

According to The Portugal News magazine, this is a preliminary data from the National Statistics Institute (INE) reveals that tourist accommodation activity was at an all-time high in 2023.

Data reported by idealista shows that there were 77.2 million overnight stays, 10.7% more than the previous year (+2.1% for residents and +14.9% for non-residents).

The average income per occupied room (ADR) also increased by 9.2% in 2023, reaching 113.1 euros. “The greatest growth was recorded in the Autonomous Regions of the Azores and Madeira (+14.3% in both) and in the Metropolitan Area of Lisbon (+12.2%). The Algarve and Alentejo presented the most modest developments (+4.4% and +5.2%)”, highlights the institute.

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