Algarve leading the way with tourism

• 14 October, 25

Tourist accommodation generated €4.893 billion in total revenue in the first eight months of the year, 7.9% more than in the same period last year. According to data from the National Statistics Institute (INE), the Algarve was the region that contributed the most to these figures.

According to rapid tourism statistics, national tourist accommodation establishments recorded 56.5 million overnight stays between January and August, a year-over-year increase of 2.4%.

Revenue from accommodation increased 7.7% in the same period, reaching €3.779 billion.

In an analysis of August alone, the tourist accommodation sector registered 3.8 million guests (+0.9%) and 10.7 million overnight stays (+1.1%), producing €1,011.3 million in total revenue (+6.5%) and €809.6 million in room revenue (+5.5%).

The Algarve was the region that contributed the most to total revenue (36.3% of total revenue and 36.1% of room revenue), followed by Greater Lisbon (19.8% and 20.2%, respectively) and the North (14.4% and 14.5%, in the same order).

The most significant revenue increases occurred in Madeira (+13.1% in total revenue and +13.8% in room-related revenue) and Alentejo (+10.3% and +10.5%, in the same order), while the Central region saw more modest growth (+2.2% in total revenue and +2.0% in room-related revenue).

Resident overnight stays grew 4.1% in August to 3.8 million, while non-resident overnight stays fell 0.5% to 6.9 million.

In August, among the top 10 source markets in terms of overnight stays, accounting for 78.9% of the total non-resident overnight stays, the UK market led the way (16.9%, despite a 1.2% quarter-on-quarter decline) and saw growth in the US (9.8%) and Canada (8.5%).

Meanwhile, the Italian, Dutch, and Irish markets saw respective declines of 6.9%, 5.7%, and 4.6%.

Average revenue per available room (RevPAR) reached €116.8 (+2.6%) and average revenue per occupied room (ADR) reached €159.2 (+4.3%).

Cre: theportugalnews