A report by Informa D&B revealed that the combined revenue of Portugal’s main tourism sectors – including hospitality, air transport, travel agencies, tour operators, passenger road transport, and car rentals – reached €17.1 billion in 2023, a 20% growth compared to the previous year.
In the tourism services segment, hotel establishments and retail travel agencies stand out for their high fragmentation. By the end of 2022, approximately 4,500 companies operated hotel establishments, employing around 63,800 workers. The Algarve leads in available beds with 29%, followed by Lisbon (21%), the North (18%), and the Center (14%). Retail travel agencies consisted of 2,235 companies, with a workforce totaling 9,200 employees.
Informa D&B also noted that most tourism companies in Portugal focus on a single activity, though there are groups with greater diversification. The industry structure leans towards consolidation around large operators, driven by acquisitions, mergers, and the closure of less profitable small businesses.
The number of guests in hotel establishments reached 30 million in 2023, a 13% increase over 2022, while overnight stays totaled 77.2 million, up 11%. Foreign visitor overnight stays showed the highest growth, with a 15% increase. Forecasts indicate continued market growth, although at a slower pace than in recent years.
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