Portugal is a country whose tourism and economy has been growing steadily since 2010. This is a very important point of interest for investors in Lisbon and all of Portugal, as confirmed by this recently completed study. This growth is mainly oriented towards the luxury hotel sector, nature, surfing, sun, beach and culture: undeniable assets of the country that favour the choice of many English-speaking people to come and settle here. The main growth regions: Lisbon, Porto, Madeira and the Algarve.
Cushman & Wakefield presented the study “in response to the growing interest of real estate investors” in the Portuguese market. Entitled “Market Hospitality in Portugal 2017”, this study speaks of a market marked by “excellent performance by hoteliers and by the successive tourist peaks reached year after year over the last 7 years”. A performance that has “aroused the interest of international investors who can find investments with very competitive returns”. A very favourable forecast for the development of the country, its infrastructures and its tourist activities, which will of course also benefit expatriates in Portugal.
The study highlights the cities of Lisbon, Porto and the Algarve “as very attractive destinations for international capital” which show a very significant growth potential. Among the main “trends” in the evolution of the tourism sector in Portugal, Cushman & Wakefield focuses on “product qualification”, with an increase in the offer of luxury (in the Azores and Serra Algarvia), surfing (on the west coast, north of Lisbon, in Alentejana and Vicentina), new “sun and beach” destinations (in Troia and Costa Alentejana) and culture / nature (in Évora, Coimbra, Aveiro, Guimarães and Braga).
Cushman & Wakefield’s analysis also emphasizes that the concentration of tourism development will remain centered around the main destinations that are also the most chosen by Francophones and other expatriates: Lisbon, Porto and the Algarve. In the case of Lisbon, “about 40 known future projects” are mentioned, which in the next five years will result in 3500 new accommodations in the city centre mainly and belonging to the four and five star categories. Given the evolution of tourism and expatriation in Lisbon, the study highlights the fact that demand is much higher from year to year: the next three years therefore foresee an average increase in supply estimated at around 3%.
With regard to Porto, which “currently has more than 170 luxury establishments offering around 12 000 accommodation units”, there are around 30 plans to open in the next three to five years, 18 of which will offer more than 1 200 rooms. Once again, these projects will be categorized as 4 or 5 stars, which should improve the dynamics and wealth of the country that everyone will be able to enjoy.
