Money Buzz! Europa

Tag: tourism in portugal

  • The Portuguese economy experienced the most severe decline since 1936

    The Portuguese economy experienced the most severe decline since 1936

    Portugal’s GDP contracted by 7.6% in 2020, according to data released by the National Institute of Statistics (INE), almost double the 4.1% decline in 2012.

    Nine years ago austerity measures were imposed, after the Lisbon authorities have requested international financial assistance.

    In the fourth quarter of 2020, Portugal’s GDP grew by only 0.2%, after an advance of 13.3% in the previous three months.

    Portugal’s booming tourism sector saw in 2020 its worst annual results since the mid-1980s and to date, due to various global bans and restrictions in the context of the coronavirus pandemic (COVID -19).

    Thus, just under four million tourists traveled to Portugal in 2020, a decrease of almost 76% compared to the record 16.4 million tourists recorded in 2019.

    Even more, the number of overnight stays of non-residents fell by 75% to 12.3 million – the lowest level since 1984 and to date.

  • Braga (Portugal) is the European Best Destination in 2021

    Braga (Portugal) is the European Best Destination in 2021

    Braga collected 109,902 votes, 28,8% of votes from Portugal and 71,2% of votes from the rest of the world.

    Top 3 is completed by Rome and Cavtat, a Croatian Sustainable Destination awarded by the European Commission, for whom voted 1 traveler on 10.

    612,609 travelers from 192 countries around the world voted this year for the European Best Destinations competition. 61% of votes were from Europe, 39% from outside Europe.

    Interesting, Kefalonia is the Greek Island that collected the highest number of votes since the creation of the competition.

    The favorite destinations for American travelers are Rome, Braga, Cavtat, Paris, and Sibiu.

    Chinese travelers prefer Paris, Rome, Florence, Ghent, Kotor and UK travelers are enjoying Braga, Florence, Rome, Cavtat, Sibiu, and Ghent.

    Tourism growth in the promoted destinations is on average +15%

    European Best Destinations competition have an impact in ”real life” with significant growth of tourists for the top destinations.

    It was recorded a + 17% growth of tourism for Porto rewarded in 2017, + 13% for Bordeaux rewarded in 2015, + 25% for Zadar rewarded in 2016, +41% for Zagreb, European Best Christmas Market 2016-2017-2018, +18% for Budapest awarded the title of European Best Destination in 2019.