Tourist revenues in Portugal reach the lowest values in seven years
The BdP underlines that the loss of revenue related to tourism "justifies the contraction of GDP that is already expected for this year", pointing to a reduction of 6.7% but which could reach 9.5 according to estimates.
Data for the first five months of the year, point to a drop of 47 compared to the same period in 2019. To find a similar record, it is necessary to go back to 2013, according to data from Banco de Portugal (BdP).
The month of May was the worst of the first five months of the year, motivated by the restrictions of the pandemic that ended up affecting in a very negative way a large part of the Portuguese economy, especially the tourism sector.