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Portugal’s Tourism Industry expected to increase
• 22 Mar 2007 •
 TWO months ahead of its summit, which will take place this year in Portugal, the World Travel and Tourism Council (WTTC) has launched the 2007 forecast estimates of Travel and Tourism's economic performance for 176 countries and the world.
The WTTC is expected to generate in excess of 5.26 trillion euros in 2007, rising to more than 9.77 trillion euros over the coming decade, according to its Tourism Satellite Account (TSA) research. The new TSA results show strong performance for travel and tourism demand in 2007, growing at a rate of 3.9 per cent.
This forecast points to a mature but steady phase of growth for world travel and tourism in the short and medium term, averaging 4.3 per cent per annum, between 2008 and 2017. The WTTC’s latest findings reveal that the world’s largest travel and tourism economies are holding strong in the top 10 list for 2007. The United States continues in its pole position and Portugal, in 28th position in the 176 countries world ranking, is considered as a very large, most intensive, and slow growing travel and tourism economy. Portugal’s tourism industry is expected to generate 31.9 billion euros of economic activity in 2007, growing in nominal terms to 53 billion euros by 2017. The number of tourists visiting the country is expected to grow by 1.9 per cent in 2007 and by 3.0 per cent per annum between 2008 and 2017. Portugal's travel and tourism industry contribution to Gross Domestic Product is generally increasing and it is expected to contribute 15 per cent to GDP in 2007, rising to almost 17 per cent by 2017.
Employment generated by Portugal’s travel and tourism economy is estimated at 959,000 jobs in 2007, 18.4 per cent of total employment, or one in every 5.4 jobs. By 2017, this should total 1,060,000 jobs, 20.3 per cent of total employment or 1 in every 4.9 jobs.
The report concludes that this year’s forecasts show all-round consolidated growth. The outlook is one of healthy and stable progress for the industry.
“The continued growth in global travel and tourism demand, presented by our 2007 TSA forecasts, presents a more dynamic and challenging business environment than ever before”, said WTTC President, Jean-Claude Baumgarten.
“Our thriving industry can certainly generate jobs and can spread prosperity around the world. However, the full potential of travel and tourism can only realized, with the full and long term support of government. Issues such as infrastructure, education and the sustainable development of travel and tourism can only be addressed – effectively – with public and private sector partners working in synergy.”
Newly elected WTTC Chairman, Geoffrey Kent added, “As an industry, we must manage growth responsibly and invest now for a sustainable future. In addition to managing growth and profits, each organization within the travel and tourism sector must act as a responsible world citizen, balancing business needs with cultural, social and environmental factors.”
The 2007 WTTC forecast, which points out to a reasonable increase in Portugal’s Tourism industry, was well received by Algarve’s tourism sector which has been through some difficulties over the last few years, especially 2004 and 2005 which brought considerable cuts in the number of tourists visiting the region, as well as in income for hotels and resorts. |  Return to Top
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