The price of vacations in Portugal explodes

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In Portugal, the cost of tourist accommodations has increased significantly since the Covid-19 pandemic. The revenue from these overnight stays exceeded 5 billion euros in 2022.

A popular destination for Westerners, Portugal is becoming less and less accessible financially. This is evidenced by recent figures unveiled by the National Institute of Statistics (INE), the equivalent of Insee in France. The price of tourist accommodation is 14% more expensive than in 2019, before the Covid-19 pandemic, reports the Diario de Noticias, relayed by Courrier international. Not all Portuguese regions are in the same boat. At the top, Madeira holds the record increase, with +35%, ahead of the Azores (+22.3%) and Alentejo (+22.7%).

Revenues up sharply

This high inflation has allowed Portugal to draw significant revenues in 2022. More than 5 billion euros were spent by tourists in accommodations alone. This represents a 16.5% surge compared to 2019, a benchmark year, and more than 100% compared to 2021, a lackluster year due to mobility restrictions related to the health crisis. 69.5 million overnight stays were recorded last year, for 26.5 million visitors in tourist accommodations.

High but falling inflation

Portugal is going through a difficult economic period, marked by a significant rise in prices. For the first time in 30 years, inflation reached over 10% in October 2022. This is the result of a pronounced increase in energy prices of around 25%. Fortunately for Portuguese citizens, inflation has tended to fall slightly in the last three months. In January, it stood at +8.4%. A higher figure than in France, where consumer prices rose by almost 6% last month.

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