Spending by foreign tourists in Portugal and Portuguese tourists elsewhere increased by 17.4% and 10.5% respectively in March compared with the previous month, the Bank of Portugal (BdP) said on Tuesday.
“In March 2024, the preliminary travel and tourism indicator shows exports rising by 17.4% compared to March 2023 (after a deviation of 14.6% in February) and imports rising by 10.5%% (after a deviation of 6 .1%),” the banking regulator indicates.
The preliminary balance of payments travel and tourism indicator released on Tuesday indicates that the sharpest growth seen over the same period last year is justified by circulation restrictions imposed in response to the Covid-19 pandemic, which were in place in the first quarter of 2022 and which were gradually cancelled.