Tourism continues to stand out as one of the pillars of the Portuguese economy, according to data released today by the National Statistics Institute (INE) in the latest edition of the
Tourism Satellite Account (CST).
In a context where the national economy grew by 6.4% in nominal terms, the main indicators of the tourism sector showed a slightly stronger performance. The Gross Value Added generated by Tourism (GVAT) and Tourism Consumption in the Economic Territory (TCET) both increased by 6.5% compared to the previous year.
The TCET maintained its record level of
16.6% of GDP, first reached in 2023, and amounted to €47.2 billion. GVAT reached €20.1 billion, representing 8.1% of national GVA — also a record high in absolute terms. These results confirm the continued growth trajectory of tourism, which remains one of the structurally most significant sectors of the Portuguese economy.
Furthermore, beyond its direct effects, tourism impacts several activities across the value chain. Using the input-output matrix model, INE estimates that the total contribution of tourism activity — including direct, indirect, and induced effects — reached €34 billion in 2024, equivalent to 11.9% of GDP and 11.5% of national GVA, highlighting the sector’s broad-based importance.
In real terms, GDP growth stood at 1.9%, with tourism accounting for 0.3 percentage points of this variation, underscoring its significance not only in nominal terms but also in volume.
(2023 – provisional data; 2024 – preliminary data)
