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Travel and Tourism Industry in Portugal 2015 - Global Market Projected to Grow at a Rate of 3.1% Reaching 1.8 Million by 2019: ResearchMoz

ResearchMoz added Latest Research Report titled " Travel and Tourism in Portugal to 2019: World Market Research, Analysis, Shares, Size, Trends, Growth, Survey, Forecast " to it's Large Report database.

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Albany, NY -- (SBWIRE) -- 12/03/2015 -- After declining consecutively for three years, Portugals economy registered growth in 2014. As a result, outbound tourism registered positive growth in 2014 after contracting in 2013. Inbound tourism recorded a strong growth of 6.3% during 20092014, partly supported by expanding operations of low cost carriers such as Ryanair and EasyJet. However, the ongoing political instability in the country towards the end of the year (2015) is expected to take a toll on economic growth and thereby adversely affect tourism.

Portugals domestic and outbound tourism markets were adversely affected due to economic crisis in the country. Domestic trips hardly grew while expenditure contracted during the historic period. Outbound trips and expenditure also declined during the historic period. However, as the economy started recovering in 2014, Canadean expects domestic trips to grow at a CAGR of 2.5% reaching 18.5 million by 2019 while outbound trips are projected to grow at a rate of 3.1% reaching 1.8 million by 2019. Inbound tourist volume is expected to increase at an average annual rate of 3.7% over the forecast period reaching 18.5 million in 2019. Apart from the traditional European markets, arrivals from China and the US will support the growth.

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The number of Chinese tourists to Portugal has increased significantly in the past few years. According to the data released by the Portuguese National Statistics Institute (INE) and Bank of Portugal, about 113,200 Chinese tourists visited Portugal in 2014, up by almost 50% over the previous year. According to Turismo de Portugal, spending by Chinese tourists in Portugal totaled EUR33.5 million (US$45.2 million) between January to August 2014, more than double when compared to the previous year. The main shopping centers in Lisbon are making moves to attract Chinese. For example, the Amoreiras Shopping Centre inaugurated an exhibition Golden Spring of Manuel Cardoso, a Macau photographer. Its common to see Chinese phrases in shopping centers, luxury chains and jewelry stores in Baixa (the downtown shopping area in Lisbon). Mundicenter group has a shopping guide written in Portugal as well as in Chinese. Few shops have Chinese staff and try to keep their offerings as per the tastes of Chinese tourists.

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Report on Travel and Tourism in Portugal to 2019 provides detailed information on the countrys tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.

What else does this report offer?

Historic and forecast tourist volumes covering the entire Portugal Travel & Tourism sector
Detailed analysis of tourist spending patterns for various categories, such as accommodation, sightseeing entertainment, foodservice, transportation, retail, travel intermediaries, and others
Analysis of trips by purpose and mode of transport, and expenditure across various categories including domestic, inbound, and outbound tourism, with analysis using similar metrics
Analysis of the airline, hotel, car rental, and travel intermediaries industries by customer type leisure and business travelers


Make strategic business decisions using historic and forecast market data related to Portugals Travel & Tourism sector
Understand the demand-side dynamics within the industry to identify key market trends and growth opportunities
Direct the promotional efforts on most promising markets by identifying the key source and destination countries

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