Lisbon aims to generate 17.4 billion euros in wealth from tourism in 2023

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ATL expects an increase of 6% compared to 2022, but does not take into account the World Youth Day. The forecast is that each tourist will spend an average of 911 euros during their stay in Lisbon.

The Lisbon Tourism Association (ATL) expects the wealth generated by tourism in the capital to reach 17.4 billion euros this year, an increase of 6% over 2022, according to its budget and activity plan for 2023, which DN has seen. This projection does not take into account the impact of World Youth Day (WYD), for which ATL has no specific study.

After a drop in the wealth generated in the two pandemic years – 4.68 billion euros in 2020 and 6.88 billion euros in 2021 – and a 138% increase last year (16.4 billion euros), Turismo de Lisboa hopes to “return to the annual growth rate envisaged in the Strategic Plan (6%), in order to reach 20,705 million euros in wealth generated by tourism in the Lisbon region in 2026”. “In 2023, the objective will be to reach a value of wealth generation attributed to tourism of 17.4 billion euros,” reads the ATL’s Budget and Activity Plan for 2023.

Belem Tower at night, Lisbon, Portugal

Belem Tower at night, Lisbon, Portugal

This will be achieved by increasing the value of the average individual expenditure for a stay in Lisbon, planned for this year, to 911 euros. “Starting from a value of 843 euros of average individual spending on a stay in the Lisbon region in 2018, the strategic plan set as a target for 2024 to achieve an average annual growth rate of 3%. As there is no calculation for 2020 and 2021, it is estimated that in 2022 this indicator could grow by 5% compared to 2019, to reach 884 euros. For 2023 and subsequent years, the objective is to ensure the initially defined path of 3% average annual growth of this indicator, in order to reach a value of 995 euros in 2026,” reads the same document.

In total, Lisbon Tourism expects to reach 18.9 million overnight stays in tourist accommodation by the end of this year, and forecasts a 5% increase to 19.8 million overnight stays in 2024. “From 2025, the growth target will be 3% per year, to reach a volume of 21 million overnight stays in the Lisbon region in 2026”.

Lisbon - Portugal
Lisbon – Portugal

Belem Tower at night, Lisbon, Portugal

These projections “do not take into account the direct impact of WYD and the Lisbon Tourism Association does not have a specific study,” an ATL source clarified to DN. Nevertheless, the plan of activities for this year states that “the growing reputation and attractiveness of the destination will be exceptionally reinforced by WYD, which will project the image of Lisbon all over the world”.

The same document also mentions an expenditure of 1.2 million euros, described as cooperation with the Lisbon City Council for WYD. A source from Turismo de Lisboa told DN that this “planned investment is for the organisation of the event in Terreiro do Paço, including VAT”, but that “the real cost will be lower than the estimate made at the time of the ATL budget”. The current estimate is that the real cost will be around 700,000 euros, including VAT, an amount that includes all production costs.

Nearly 10 million in support for the Web Summit

In terms of revenue, Turismo de Lisboa expects to generate 50.7 million euros this year, with the largest share (42%) coming from its own activities, which include rents from the concessionaires of Terreiro do Paço (2.7 million) and Zona Ribeirinha (3.1 million), as well as Lisboa Camping and Mercado da Ribeira, and the new restaurant at Doca da Marinha.

Lisbon aims to generate 17.4 billion euros in wealth from tourism in 2023

This chapter also includes revenues from the development of ATL’s spaces – Pátio da Galé (786 thousand euros) and Pavilhão Carlos Lopes (1.7 million euros) -, from Lisboa Card (5. 9 million) and from ATL’s facilities – Arco da Rua Augusta, Lisboa Story Centre, Centro Interpretativo da História do Bacalhau, Pilar 7, Centro Tejo, Estação Sul e Sueste, Doca da Marinha, Mitos&Lendas de Sintra, NewsMuseum and Museu do Tesouro Real – ranging from 2.3 million euros for the Museu do Tesouro Real to 96.3 thousand euros for the NewsMuseum. In total, Turismo de Lisboa expects to collect 12 million euros this year, between the cession of spaces and products for tourists.

During 2023, Turismo de Lisboa also plans to decide on the reopening or definitive closure of the tourist offices that have not yet reopened after the pandemic – the kiosks in Campo Pequeno and Alcântara, the shop in Rua do Jardim do Regedor and the kiosks in some metro stations. In parallel, it will launch a project to renew the image of its stations and shops.

A total of €21.3 million has been earmarked for the promotion of tourism in the Lisbon region. “Most of the investment in promotion is intended to support the Web Summit planned for this cycle of editions, starting in 2019, which reaches the total amount of around 9.6 million euros in 2023, representing almost half of the resources available for tourism promotion of the Lisbon region”, can be read in the activity plan, where it is also said that the budget to support promotional events “will be punctually reinforced in 2023, with the collaboration in the World Youth Day”.

Source: https://www.dn.pt/dinheiro/lisboa-quer-gerar-174-mil-milhoes-de-euros-de-riqueza-com-o-turismo-em-2023-15942926.html

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