Tourist revenues have grown about 6% in the first quarter of this bright new year of resurgence for the sector that sees the Algarve underpinning the country’s tentative economic recovery.
Revenues from overseas visitors spending time in Portugal grew by 5.87% in the first quarter of 2014 to over €1,560 million, compared to €1,470 million in the corresponding period last year, according to the Bank of Portugal’s latest Statistical Bulletin.
According to the Bank, spending by Portuguese tourists overseas also went up, but not as much at 4.33%, leaving the tourism balance of trade at €823 million, an increase of 7.29% and a creditable performance creating jobs and tax revenue especially in the main Algarve tourist region for Lisbon to spend wisely.
The quarterly figures would have been better but for a poor March income which dragged down the first quarter. This was due to Easter falling in April this year so experts predict that the second quarter 2014 will really show that the Algarve's tourism offer is attracting holidaymakers in good numbers.
