SYNTHESIS INE@COVID-19, 18 May-2021

May . 18 . 2021 SYNTH SIS IN @ COVID-19 www.ine.pt page 22/23 Communication Unit | tel: +351 21 842 61 10 | sci@ine.pt In 2020, the GVA generated by tourism will have decreased by 48.2% In 2020, the Tourism Direct Gross Value Added (TDGVA), which totalled EUR 8,105 million, represented 4.6% of the national GVA (8.4% in 2019). In nominal terms, this corresponds to a decrease of 48.2% compared to 2019, which in turn compares to the reduction of 4.6% in the GVA of the national economy. Tourism Consumption in the Economic Territory (TCET) totalled EUR 16,273 million, equivalent to 8.0% of GDP (15.3% in the previous year), representing less 50.4% in nominal terms, an unprecedented reduction in spending by the receiving tourism (tourism exports). These two aggregates of the Tourism Satellite Account decreased more sharply than national GVA and GDP (nominal variations of -4.6% and -5.4%, respectively), reflecting the particularly negative effects of the COVID-19 pandemic on tourism activity. It is estimated that in 2020: • Tourism activity has generated a direct and indirect contribution of EUR 12.8 billion to the nominal value of GDP, corresponding to 6.3% (11.8% in 2019); • The reduction in tourism activity contributed about ¾ of the total to the variation in GDP in volume, which was -7.6%. Evolution of TDGVA and TCET (2016-2020) 6.9 7.7 8.0 8.4 4.6 12.6 14.1 14.8 15.3 8.0 0 4 8 12 16 0 10,000 20,000 30,000 40,000 2016 2017 2018 2019 Pe 2020 Pe % 10 6 euro GVAGT (million euro) TCET (million euro) GVAGT (% of na � onal GVA) TCET (% of na � onal GDP) More information at: Tourism satellite account for Portugal - Preliminary results – 2020 (14 May 2021)