If your impatient and curious, here are a few slides with key numbers and trends from the Tourism Industry
All the major Banks, Consultancy Companies and Real Estate agents publish their market reports.
In terms of tourism all reports concludes the same: The Portuguese Tourist Industry looks very promising for the years to come with increasing Occupancy Rate, increasing ADR and Increasing RevPAR.[caption id="attachment_15133" align="aligncenter" width="663"] Check out Deloitte’s Market Atlas here[/caption]
The Portuguese economy continued to recover in 2015 with GDP growth of 1.5%, slightly lower than expected, and unemployment falling further to 12.6%. The economic recovery is expected to continue with GDP growth forecast at 1.5% in 2016 and 1.4% in 2017. The growth will be underpinned by lower oil prices, low interest rates and the weaker euro boosting exports and private consumption. Portugal is reported as a good place to live and work by entrepreneurs and popular for tech start-ups. In 2016, some large conferences such as the Web Summit and Diabetes and new air routes should drive demand further putting pressure on ADR and pushing occupancy to record high levels. Download: PWC: European Cities Hotel Forecast 2016 and 2017
Within Europe, Lisbon is one of the European cities with the highest occupancy growth potential. According to the World Travel and Tourism Council, tourism is expected to represent 20% of all jobs, 13% of investment and 21% of exports and services income in Portugal in 2024. With the addition of almost 1 400 hotel rooms since 2014, Lisbon’s hotel market significantly shifted towards the 4 and 5-star segments, and the city will continue to evolve with the development of approximately 1 500 hotel rooms within the next three years. In particular, international hotel chains are eyeing Lisbon. Besides, backed up by strong fundamentals and a positive outlook, hotel transactions in Lisbon are expected to increase over the next years. Download: BNP-Report: Hotel Market Snapshot
The Portuguese economy in first half 2016 retained its positive trend starting in 2013, albeit running a little out of steam across 2015…. page 2 In Portugal, Lisbon and Porto are and continue to be the magnet attracting investment in office space, hotels, high street retail, urban renovation and housing… page 31 Download: Cushman & Wakefield: Marketbeat Portugal Autumn 2016]]>
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