Agência para o Investimento e Comércio Externo de Portugal


Earnings in the Algarve’s tourism accommodation sector grew by 32.4% between January and June of 2023 when compared to the 1st semester of 2019, the industry’s best ever year.

The data was shared by the National Statistics Institute (INE), which indicates a record income value of 570.5 million euros in the first semester of the year for the country’s main holiday destination.


Compared to 2022, the first 6 months of 2023 saw the Algarve gain 13.5% more guests, up to 2.2 million, and 13.2% more overnight stays, up to 8.5 million. In this period, earnings increased by 19.4% from last year and Faro Airport recorded a 20.6% increase in passenger volume. To the president of the Algarve Tourism Region (RTA), “This semester’s results are very exciting, registering the best numbers we’ve ever had in accommodation earnings and growing in all the main performance factors compared to 2022, opening the way for a positive report of the region’s tourism activity at the end of the year.”


Comparing the destination’s results from 2023 compared to those of 2019, the semester balance is still positive, with more passengers coming through the airport (+5.2%), higher profits in tourist accommodation (+32.4%), more guests (+2.8%), and overnight stays practically on the same level as in that year (-0.8%), despite the break recorded in the last two months. “It’s noteworthy that the Algarve is growing more in value than in demand,” André Gomes concludes.


In The Portugal News