According to the estimates of the Economist Intelligence Unit, Portugal holds 1.5% of the world tourism market quota and was the 16th most visited country last year. They also refer that tourism represents 8% of employment and 7% of the Portuguese Gross Domestic Product (GDP).
Income generated by international tourism has grown to 7.01 million euros in 2004, and it is predicted to increase to 8.04 million euros in 2005, followed by a gradual increase until 9.5 million euros in 2009.
The large majority of tourists visiting Portugal in 2004 were from Central and Northern Europe. These figures result from the increase in the Euros value in light of other currencies, which has implied a decrease in non-European tourists. The main destinations were Madeira and the Algarve, with a noticeable increase in the preference for cultural destinations.
The Economist Intelligence Unit also states that public investment will be channelled into the creation of infrastructures in lesser-developed areas in order to increase private sector investment. |