As the sector builds on 2024’s record-breaking performance, 2025 is set to be a year of historic performance.
New data from the World Travel & Tourism Council (WTTC) reveals 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.
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 projected to provide 1.2 million jobs throughout the country, which is almost one out of every four jobs. That’s 200,000 more jobs than 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.
The Year 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.
Looking Ahead to the Year 2035
WTTC’s long-term perspective signals an even greater potential for the years ahead.
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 projected to create 1.4 million new jobs, confirming its importance as a key engine of social and economic 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.
European Union: A Brief Overview
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 employment of the sector increased by 4.7% on an annual basis, reaching 24.6 million positions, which is one in nine jobs throughout 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. The sector’s employment is estimated at 25.7 million, or 12 percent of the total regional workforce.
