Tourism pushes Portugal’s economy to 35-year high

Portugal

Portugal’s economy grew at its highest rate since 1987 last year, official data showed Tuesday, partly down to a thriving tourism industry.

The country’s gross domestic product expanded by 6.7 percent, the INE statistics agency said.

Prime Minister Antonio Costa said the figures were a “good sign” which showed the country had “recovered well from the Covid crisis”.

Economic growth was largely down to an increase in exports and a drop in imports, the statistics agency said, alongside the tourism sector as one of the main drivers of growth.

More than 15.3 million foreign tourists stayed in hotels in Portugal last year, a marked increase of 159 percent on the year before.

The government is predicting growth will slow to 1.3 percent next year.

Agence France-Presse

https://bilyonaryo.com/2023/02/01/tourism-pushes-portugals-economy-to-35-year-high/travel/