Portugal’s Travel & Tourism sector is set to continue growing in 2025, following a landmark year in 2024 that saw the industry surpass all previous peaks across economic contribution, employment, and visitor spending.

According to the latest Economic Impact Research (EIR), developed in collaboration with Oxford Economics, Travel & Tourism in Portugal is forecast to contribute €62.7BN to the national economy this year, representing 21.5% of GDP, and towering above the 2019 peak by nearly 38%.

The sector is expected to support 1.2 million jobs across the country; that is close to one in four jobs in Portugal, 200,000 more than at its previous high.

International visitor spending is projected to grow to €33.1BN, while domestic spending is forecast to reach €22.9BN, growing by 24.2% and 59.5% on 2019 levels, respectively, reflecting continued strength in both inbound and local demand.

A Look Back to 2024

These 2025 projections build on an extraordinary performance in 2024, when Portugal’s Travel & Tourism sector reached its highest levels on record.

Last year, the sector contributed €60.6BN to the economy, equivalent to 21.3% of national GDP, and supported 1.2 million jobs, equivalent to nearly 23% of total employment.

International visitor spending surged to €31.8BN, while domestic tourism contributed €22.2BN, marking all-time highs for both indicators.

A Look Ahead to 2035

WTTC’s long-term outlook signals even greater potential in the years to come.

By 2035, Travel & Tourism in Portugal is projected to contribute more than €74.6BN to GDP, accounting for 22.6% of the national economy. The sector is expected to support 1.4 million jobs, reinforcing its role as a vital engine of economic opportunity and social development.

Spending by international visitors could reach €40.6BN, while domestic spending is forecast to rise to €25.8BN, confirming the sector’s central role in Portugal’s long-term economic strategy.

A Glimpse into the European Union

In 2024, the EU Travel & Tourism sector contributed almost €1.8TN to the region's GDP, representing more than 10% of the Bloc’s economy, and above 2019 levels by almost 6%. The sector’s employment grew by 4.7%, year-on-year, to 24.6 million jobs, accounting for one in nine jobs across the region.

By the end of 2025, WTTC forecasts that the EU Travel & Tourism sector will reach almost €1.9TN, representing 10.5% of the EU economy. Employment linked to the sector is estimated to total 25.7 million people, or 12% of the regional total.