Published on : Thursday, February 16, 2017
Last year, overseas visitors to Portugal just doubled with 13 percent rise which is tantamount to 10 million visitors. This huge tourist arrival helped Portugal to recover its fairly fragile financial condition.
More than 10 percent Portugal’s GDP is dependent on travel revenue along with being one of the major sources of employment as well. 11 million foreign residents stayed in Portuguese hotels in 2016 as compared to 9.7 million in 2015, as per preliminary data represented by the National Statistics Institute (INE) on Wednesday this week.
This helped the total hotel revenue to drive up in the Atlantic coast country with domestic tourism, 17 percent higher to 2.9 billion Euros ($3.07 billion). Since 2011, tourism has been rising steadily. This has helped the heavily-indebted Portugal to conquer its financial and debt crisis.
In 2014, Portugal fought back the worst effects of recession in decades and 2016 the economy of Portugal grew 1.4 percent high, which gave a firm footing to the country for upcoming 2017. This allowed the government to recover the budget deficit as well.
Tags: Portugal tourist arrival