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Portugal tourist arrivals, revenues rise, boosting economy
September 13, 2013 / 12:15 PM / 4 years ago

Portugal tourist arrivals, revenues rise, boosting economy

LISBON, Sept 13 (Reuters) - Foreign tourists visited Portugal in greater numbers and spent more money on hotels in July than a year ago, giving a further boost to an economy that emerged from a deep recession in the three months to June.

Revenue from tourism accounts for around 10 percent of gross domestic product in the Iberian country.

National Statistics Institute INE said on Friday hotel stays by foreign visitors rose nearly 6 percent in July and reached 4.6 million in the first seven months of the year.

Hotels receipts, including those from locals whose numbers slipped due to a drop in disposable income, rose about 7 percent in July. Receipts increased 5 percent to 1.05 billion euros ($2.06 billion) in the January-July period.

Although the number of foreign tourists hit a record high last year, hotels took less money as the economic crisis forced them to cut prices to attract custom.

This year’s improvement in receipts has so far offset last year’s 2 percent drop.

Almost 1 million foreign tourists stayed in Portuguese hotels in July alone.

While tourists from Europe, especially Britain and Germany, dominated hotel stays, INE noted an increase of over 20 percent in visitors from the United States.

Portugal’s economy exited its worst recession since the 1970s in the second quarter, when it grew 1.1 percent from the preceding three months, but is still expected to shrink in 2013 as a whole before returning to feeble growth in 2014.

$1 = 0.7514 euros Reporting By Andrei Khalip; Editing by John Stonestreet

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