Tourism in Portugal may pre-pandemic levels in 2023 | Tourism
The World Travel and Tourism Council (WTTC) said this Monday that the travel and tourism sector will promote economic recovery in Portugal, surpassing pre-pande levels in 2023.
The WTTC, a world business forum for industry and tourism, is estimated that next year will see a greater increase in relation to the results of 4.8% compared to the results of 2019 and in the sector it does not exceed the levels of the pandemic year.
In the latest Economic Impact Report of the WTTC provide yourself that the “total contribution of the sector to GDP could reach almost 39.5 billion euros next year, representing 17.4% of the total national economy”.
The industry is expected to create 3,200 jobs, to reach more than one million jobs by the end of 2023.
According to the latest WTTC data, GDP associated with travel and tourism is expected to grow annually at an average of 3.4% over the next decade, more than triple the 1.1% growth rate of the global economy. country, to reach more than 50 billion euros (20.2% of the total) by 2032.
On the other hand, how approximately is this sector capable of creating 193,000 jobs in the next ten years, with an average of jobs in the next ten years reaching more than 1.1 million jobs by 2032.
“After the devastating impact of covid-19, Portugal is showing a strong recovery and at the end of this it is expected that the sector’s total contribution to GDP will grow by 54.7%, to more than 35.8 billion euros, which corresponds to 16.2% of total GDP”, the statement reads.
“Employment in the sector [em 2022] should grow by 5.6%, to reach almost more than 953,000 jobs”, added in the same note.
According to WTTC data analysis partner ForwardKeys, “the latest flight booking data shows a promising summer” for Portugal, as “flight booking data showing (…) most popular European this summer, with a 179% annual increase in international arrivals.”
US data,3 flight bookings per day at pre-pandemic levels, with bookings from the US, Netherlands up 41%, 29%, and 11% respectively.
The report highlights that the sector’s total contribution to GDP represented 17.1% (37.6 billion euros) in 2019, falling to just 8.7% (17.4 billion euros) in 2020, thus dropping to about half.
The sector was also responsible for more than a million jobs, “before a pandemic put an end to international travel, which resulted in a loss of 160,000 (15.6%), reaching 850,000 in 2020”.
The document emphasizes that in 2021 the recovery of this sector will begin, with a 32.6% increase in terms of measures, to reach 23.1 billion euros. The recovery of jobs alone was slower, with 50,000 created, reaching a total of 900,000.
What the sector’s contribution to the economy could reduce tourism could have been higher were it not for the worldwide variant Ómicron, which has led to an upward swing around the world, with many countries reintroducing the organism in various travels.”