Tourism generates €10.1bn in 2017, in Lisbon

  • ECO News
  • 25 February 2019

This report was provided by the consulting company, Deloitte, and it was quoted by the mayor of Lisbon. In 2017, the tourism sector in the capital generated €10.11 bn in profits.

The sector’s direct and indirect contributions for the country’s capital in 2017 totalled €10.11bn. This number is part of a study made by the consulting company Deloitte on the macroeconomic impact the sector has had on the city of Lisbon, and it will be presented this Monday, according to what the Mayor of the city has told Expresso, a Portuguese newspaper. “Tourism in Lisbon alone has much more importance for the Portuguese economy than many other sectors in the country have”, Medina noted.

The study quantifies the total produced by all agents involved in the touristic value chain in the capital, from accommodation to restaurants, transports and storage, and also looks at its impact on construction and commerce.

In 2017, this value chain generated over 93 thousand new jobs in Lisbon, directly or indirectly connected to tourism, which is comparable to the 69 thousand jobs created in 2014 in the sector. That jump was mostly motivated by improved performance of the hotels and restaurants sector, as well as commerce, the report further shows.

As for last year, the mayor of Lisbon noted that “it was a very good year” for tourism. “We witnessed yet again an increase in tourists, and also in revenue, reinforcing the trend witnessed in the last few years”.

And what about 2019? According to Fernando Medina, the prospects are “great”, mainly in terms of “the increase in value”. The mayor of Lisbon also noted that the increase in tourists might be “shy”, but revenue is expected to increase.