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GVA and tourism consumption in the economic territory strengthened their relative weight in the total economy, reaching historical highs
Tourism satellite account for Portugal
GVA and tourism consumption in the economic territory strengthened their relative weight in the total economy, reaching historical highs - 2023
01 August 2024

Summary

In 2023, the Gross Value Added generated by Tourism (GVAGT) and the Tourism Consumption in the Economic Territory (TCET) registered, respectively, nominal increases of 16.0% and 15.5%, a faster pace than the national economy (the national GVA and GDP grew by 10.1% and 9.6%, respectively). These growths consolidated the recovery of tourism in the post-pandemic period, after very intense increases in GVAGT and TCET in 2022 (69.6% and 78.1%, respectively).

GVAGT represented 9.1% of national GVA in 2023 (8.6% in 2022) and TCET was equivalent to 16.5% of GDP (15.6% in 2022), thus reinforcing its relative weight in the total economy and reaching historical highs.  

Applying the Integrated System of Symmetric Input-Output Tables to the main results of the Tourism Satellite Account, it is estimated that the tourism activity has generated a direct and indirect contribution of 33.8 billion euros to GDP in 2023, which corresponds to 12.7% (12.1% in 2022 and 7.8% in 2021). These results reflect a contribution of 1.1 percentage points (p.p.) to real GDP growth in 2023 (2.3%).  

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