Portugal’s travel and tourism sector is forecast to surpass 2019 highs this year, according to the World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research.

The sector is forecast to contribute €40.4 billion to Portugal’s economy by the end of this year, exceeding the 2019 pre-pandemic top of €40.1 billion, according to the report.

In addition, the WTTC forecasts the sector will generate approximately 30,000 jobs in 2023, just 68,000 jobs below the one million level from 2019, to reach 950,000 employed within travel and tourism, The Portugal News reports.

The GDP contribution for the travel and tourism sector rose 61.6% in 2022 to hit close to €38 billion, representing 15.8% of Portugal’s economy.

The industry also generated 83,000 more jobs from the year before, reaching 921,000 jobs throughout the country.

This latest report from the WTTC reveals the sector has now recovered to over 90% of the pre-pandemic level of jobs.

Furthermore, international visitors returned to Portugal in 2022, with the majority coming from Spain (16%), France (12%), the UK (11%), Germany and the US (both 8%).

Whereas international visitor spending contributed €21.7 billion to Portugal’s economy last year, accounting for year-on-year growth of 80.4%, just 7.7% behind levels registered in 2019.

“The Travel & Tourism sector in Portugal is recovering strongly with high visitor demand,” said Julia Simpson, WTTC President and CEO.

“The future for the sector is very optimistic. By the end of this year, the sector’s contribution will surpass 2019 levels, and over the next decade, growth will outstrip the national GDP and create 248,000 new jobs over the decade, representing one in four jobs.”