Build the future

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​The fourth priority of the Reactivate Tourism | Build the Future Action Plan is the development of measures and initiatives to create conditions for, in the medium and long term, promoting a real transformation of the sector and positioning it at a higher level of development, more sustainable, more responsible and capable of generating more added value.​

Through projects that accelerate the construction of the tourism of the future, which is intended to be smarter, more responsible and more sustainable. In fact, the sustainability (social, environmental or economic) of the sector is a transversal value that permeates the entire Action Plan

// COMPANY FINANCING

In parallel with the financial measures advocated in pillar 1 of this Plan, it is important to ensure the development of new financing mechanisms for companies, which, on the one hand, allow to broaden the range of investors in the sector, on the other hand, guarantee companies' access to financing on sustainable terms and, finally, ensure the necessary conditions for the growth of smart investment in the sector.

Highlights:

It is important to ensure a mechanism to make the assets of companies in the sector liquid through sale & leaseback operations. With these operations, conditions are created for the financing of companies with a high level of liquidity.

In the area of company financing, new forms of financing and new investors should be sought. This is the case for financing SME on the capital market. The need to create the conditions for the completion of the tourism bond launch project, using the mutual guarantee mechanism, which was interrupted in March 2020 due to the impact of the COVID-19 pandemic on the level of risk of companies, is emphasised here.​

This Plan advocates the regulatory creation of a vehicle to provide intermediation between SMEs, particularly those in the tourism sector, and the capital market. This vehicle makes it possible to manage the context costs of this type of operation more efficiently, shifting them away from SMEs, and presupposes the involvement of the mutual guarantee mechanism, which ensures risk levels of the bonds compatible with both the investment expectations of investors and the payment capacity of the SMEs themselves.

The pandemic situation has further highlighted the excessive atomisation of the sector's business fabric, with effects on its critical mass and the level of resilience of companies. It is therefore important to create a Companies concentration fund, which encourages mergers or business cooperation processes.​

At the current stage of development of the tourism sector, it is critical to ensure the conditions to expand the spaces and markets in which tourism companies operate, through internationalisation processes. This dimension is important for the gain of scale of companies in the sector, but it is also particularly important for the internationalisation of the national economy itself, as it will allow to increase the awareness of the Portugal brand, as well as to use these productive units abroad (such as hotels and restaurants) as new distribution channels for a wide range of other sectors of activity.

The area of skills is recognised as one of the priority areas for investment in the sector. As mentioned, while for many years tourism activity was based on a model of low skills and, as a consequence, low wages, the structural changes in the sector in recent years and those expected for the coming years, require a profound change in the sector's skill levels. It was with this objective that the raising of the skills of workers in the sector was inscribed as a strategic priority in the Tourism Strategy 20-27​, approved in 2017.

This includes the following actions and programmes:​

To this end, it is essential to invest in innovative equipment and infrastructures that will position tourism education in Portugal at a higher level and allow training to be adapted to the new needs and demands of consumers. This commitment to the development and training specialisation centres is an essential element, and we therefore list some projects that will be emblematic in terms of training and in different parts of the country, namely the Centre of Excellence for Tourism and Technology-Based Incubation Centre in Estoril, the Gastronomy Centre in Lamego, the Pastry Centre in Óbidos, the Hotel of the Future in Setúbal, the implementation of the TIA Project in Estoril, in conjunction with the Estoril School of Hospitality and Tourism, or the Didactic and Digital Resources Centre in the Algarve.

In a context of enormous uncertainty in the market recovery, it becomes fundamental and critical to invest in a market intelligence programme to support the recovery of the sector, which continuously monitors the sentiment of potential tourists to Portugal and their tourist consumption preferences, and thus allows companies and public entities to make the best decisions.

The recent situation has dramatically affected the stability of human resources in the sector, especially in a population of migrants who have seen their base disappear in a short period of time. This is why a specific training programme aimed at unemployed people and migrants is justified, which can put them back in the labour market or offer consistent and more sustainable alternatives for the future.

The emergence of a transformation of the training paradigm, requiring a decisive commitment to the qualification of human resources in the sector and the attraction of talent to the sector, as necessary conditions to increase the quality of service provided and the ability to face the challenges of digitalisation and sustainability. This programme starts from the need to enhance the sector's professions by providing companies with the knowledge and tools necessary to do so.

This programme aims to massively train employees in the sector, in a closer way and according to the methodologies used: digital and face-to-face training, with content adapted to the future needs of the sector, throughout the national territory and adapted to the diversity of tourism companies.

This commitment also requires an effort to qualify the management positions of companies in the sector in general terms, capable of supporting the digital transformation of companies, the inevitability of data-driven management and agility and innovation as essential elements of management.

Innovation and digitalisation are absolutely critical factors in strengthening the competitiveness of the sector and, consequently, in the process of growth of companies and the tourism sector capable of generating more added value. In terms of digitisation, it is important to bear in mind that this is an area where there are strong gaps in the sector, both in terms of the adoption of digital tools by companies, the effective use of the data generated by these tools, and the ability to use them to create value or develop new businesses. 

The following actions and programmes are highlighted:

_ Tourism + Digital Programme (Digital Companies and Digital Territories)
In this context, a dedicated programme should be put in place to strongly support the digital transformation of businesses in the sector as well as tourism destinations, inducing the use of technology and stimulating the use of data in decision-making processes. It is essential to encourage companies in the sector to adapt their hardware and software, modernising their production structure, processes, communication and content.​

The digital transformation of the sector also requires an effort to support companies, especially smaller ones, to acquire skills and tools that allow them to prepare for the future, to structure their businesses with new value propositions, capable of responding to the future demands of the sector. The new Upgrade training programme has digital skills as one of its priority areas, justifying a reinforcement of investment in this measure, in order to accelerate the levels of training of human resources in terms of digital skills.

It is important to ensure the continuous innovation of the sector, also creating appropriate conditions for the emergence of new businesses, which densify and better structure the tourism product. The aim is to ensure the expansion of the productive capacity of the sector, an expansion that is intended to be intelligent, inclusive and promoting cohesion, preferably based on dimensions capable of affirming our difference, such as heritage, nature, culture or creative industries.

In order to strengthen the action in the generation of innovation, promoting programmes suitable for the birth of new business ideas, and in the transformation of companies in the sector, through the adoption of new incremental or disruptive solutions, which allow to increase their productivity and raise the added value generated. This programme will continue to be developed in close partnership with the network of incubators and accelerators spread across the country with programmes that promote innovation in the sector, but also Portugal's role in leading innovation in tourism, enhancing internationalisation.

The role of NEST, as a true digital hub in tourism, is absolutely critical for the creation and dissemination of the innovation component in its aspects of sustainability, fluid experience and use of big data in decision making. The work carried out by NEST since its creation by Turismo de Portugal, I. P., in partnership with NOS, Google, Microsoft, Banco BPI (BPI Bank), Banco MillenniumBCP (MillenniumBCP Bank), Brisa-Via Verde and ANA Aeroportos (ANA Airports), justifies the investment in this innovation vehicle, providing it with the necessary means for that same mission.

Also, in the context of promoting entrepreneurship in tourism, it is essential to ensure the consolidation of the tourism innovation ecosystem, supporting startups in their birth and growth process, namely those participating in the Fostering Innovation in Tourism programme, making them capable of winning in the market, influencing market dynamics and creating new business models. To this end, it is recommended to create a specific training and curation programme for startups that develop or intend to develop their activity in tourism or with tourism, through the "Rising Stars" startup programme.​

The tourism sector is positioned as a field of economic activity in which this climate transition process can be more easily implemented, considering that the sector has already collectively assumed this objective in 2017, but also because the adoption dynamics have remained constant. In addition to initiatives by business associations towards this transition, the political objective has now been intensified with the launch of the + Sustainable Tourism Plan by Turismo de Portugal, I. P., which aims to accelerate this process, highlighting the most emblematic actions and programmes:

Turismo de Portugal, I. P., has launched the discussion on the +Sustainable Tourism Plan 20-23​, a project that includes actions such as re-educating for a circular and sustainable catering, developing practices for a circular economy, carbon neutrality in tourist developments, sustainable construction in tourist developments, water efficiency in golf courses in Portugal and the reduction of plastic in hotels. It also includes the purpose of developing the network of regional observatories in the area of sustainability. The programme bears in mind the importance of Portugal strengthening its positioning and competitiveness as a sustainable and safe tourist destination, while also being able to accommodate the requirements of new national and Community directives and guidelines that will occur in the short and medium term, in the context of the circular economy and environmental sustainability.

This transformation requires a reinforcement of support to companies, including, as mentioned above, capacity building, in this case focused on the challenges and future potential of sustainability. This new training programme of Turismo de Portugal, I. P., has as its themes digital, mentioned above, and also sustainability. The current context shows that both are essential for the tourism of the future, so their development adds value to the people and territories where they are integrated. Both aspects contribute to the relevance of the tourism sector in the dynamics of the local and national economy as well as to the preservation and regeneration of resources and also to the creation of fairer and more inclusive labour models.

The Portugal 2030 Strategy has a relevant dimension of competitiveness and territorial cohesion and constitutes agenda 4 of this strategy. It is considered that tourism, as a transversal economic activity that feeds and enhances a very broad value chain in regional terms, has enormous potential to act as a hub for economic, social and environmental development of the territories. This was, in fact, the basic design of ET27 and justified a clear investment in the development of tourism offer in less developed regions ​of the territory, with the purpose of deconcentrating tourist demand to less sought after territories and extending tourism practice throughout the year.

The significant demand that occurred in 2020 demonstrated the potential that inland regions have in this area, justifying an intensification of this commitment. On the other hand, still in the inland, there are undoubted market opportunities generated by cross-border projects, as advocated in the Common Cross-Border Development Strategy, which make it possible to valorise existing resources and introduce inland regions into international demand circuits, particularly those from Spain, which will probably be the source market with the greatest growth potential in the coming years.

The Valorising 2.0 Programme, which represents an evolution from the Valorising Programme, created in 2016, aims to qualify the territory and thus allow its potential for tourist attraction to be valued in a sustainable manner. The aim is to strengthen support for projects, especially integrated and supramunicipal, which allow the structuring of tourism products in the regions and support the growth process of products such as cycling & walking, caravanning, the paths of faith, literary tourism or wine tourism.

The largest tourist region in the country should be an example and leader of the tourism transformation of the future. This programme aims to reinforce the positioning of the Algarve as a quality destination, which can be visited throughout the year and throughout the region, valuing its natural and cultural aspects. In addition to positioning itself as the main sun and beach destination in the country, the Algarve has unique characteristics for health and wellness tourism, active ageing, sports and sustainable nautical tourism, the valorisation of natural areas and the reinforced focus on cycling & walking.

Alongside this process of transformation of the sector, it is important to evolve in the vision of the responsibility of companies in the sector as an agent of value creation, not only for their shareholders, but also for their employees, their suppliers, the community, the territory and the environment. A smarter sector, one that creates more value, is more sustainable and more responsible, naturally depends on companies that are more focused on smart growth, based on innovation and qualification, more accountable to society and more sustainable. The tourism company at the centre of the transformation process of the sector, an actor that must be seen as a member of the community, in a 360º vision. This involves cultural transformation work, in a close public-private partnership, curation, capacity building and, ultimately, the establishment of a way of publicly recognising companies based on economic, social and environmental dimensions.​