Portuguese Travel & Tourism Sector Set to Reach Record-breaking High This Year
Portuguese Travel & Tourism Sector Set to Reach Record-breaking ... Hotel News Resource
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Portuguese Travel & Tourism Sector Set to Reach Record-breaking High This Year
The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals the Portuguese Travel & Tourism sector is projected to exceed the 2019 peak this year.
According to the report, the sector is set to contribute €40.4 billion to the Portuguese economy by the end of 2023, surpassing the 2019 pre-pandemic high of €40.1 billion.
WTTC is also forecasting that the sector will create around 30,000 jobs this year, only 68,000 jobs below the 2019 level of just over one million, to reach 950,000 employed by Travel & Tourism.
A look back on last year
Last year, the Travel & Tourism sector’s GDP contribution grew 61.6% to reach nearly €38 billion, representing 15.8% of the Portuguese economy.
The sector also created 83,000 more jobs from the previous year to reach 921,000 jobs nationally.
The latest report from the global tourism body shows that the sector has now recovered to more than 90% of the pre-pandemic level of jobs.
Last year also saw the return of international travellers heading to Portugal, with Spain (16%), France (12%), UK (11%), and Germany and U.S. (both 8%) leading as source markets for international arrivals in Portugal.
According to the data, in 2022, international visitor spend contributed €21.7 billion to the national economy, representing a striking year-on-year growth of 80.4%, and just 7.7% behind 2019 levels.
Julia Simpson, WTTC President & CEO, said: “The Travel & Tourism sector in Portugal is recovering strongly with high visitor demand.
“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.”
What does the next decade look like?
The global tourism body is forecasting that the sector will grow its GDP contribution to €56.4 billion by 2033, representing more than one fifth (21.1%) of the Portuguese economy.
Over the next decade, Travel & Tourism could employ more than 1.2 million people across the country, with one in four people working in the sector.
Europe
In 2022, the European Travel & Tourism sector contributed €1.9 trillion to the regional economy, just 7% below the 2019 peak. WTTC forecasts the regional sector’s GDP contribution will reach €2.04 trillion in 2023 and be within touching distance of the 2019 highpoint.
The sector employed 34.7 million people across the region in 2022, an increase of 2.9 million from the previous year, but still 3.2 million behind the 2019 peak. WTTC forecasts the sector will fully recover the jobs lost during the pandemic by the end of 2024.
SDGs, Targets, and Indicators in the Article
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 8: Decent Work and Economic Growth
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 12: Responsible Consumption and Production
- SDG 17: Partnerships for the Goals
The article discusses the projected growth and recovery of the Portuguese Travel & Tourism sector, which is directly related to economic growth (SDG 8) and the development of industry and infrastructure (SDG 9). It also mentions the contribution of international visitor spend, indicating the importance of responsible consumption and production (SDG 12). Additionally, the article mentions the World Travel & Tourism Council (WTTC), which represents a partnership for achieving sustainable development goals (SDG 17).
2. What specific targets under those SDGs can be identified based on the article’s content?
- Target 8.9: By 2030, devise and implement policies to promote sustainable tourism that creates jobs and promotes local culture and products.
- Target 9.1: Develop quality, reliable, sustainable, and resilient infrastructure to support economic development and human well-being.
- Target 12.8: Ensure that people everywhere have the relevant information and awareness for sustainable development and lifestyles in harmony with nature.
- Target 17.16: Enhance the Global Partnership for Sustainable Development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources.
The targets mentioned above align with the SDGs identified in the article. They emphasize the importance of sustainable tourism, infrastructure development, sustainable consumption, and partnerships for achieving sustainable development.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- Indicator 8.9.1: Tourism Direct GDP as a proportion of total GDP and in growth rate.
- Indicator 9.1.1: Proportion of the rural population who live within 2 km of an all-season road.
- Indicator 12.8.1: Extent to which (i) global citizenship education and (ii) education for sustainable development (including climate change education) are mainstreamed in (a) national education policies; (b) curricula; (c) teacher education; and (d) student assessment.
- Indicator 17.16.1: Number of countries reporting progress in multi-stakeholder development effectiveness monitoring frameworks that support the achievement of the sustainable development goals.
The indicators mentioned above can be used to measure progress towards the identified targets. They provide specific metrics for assessing the contribution of tourism to GDP, access to infrastructure, integration of sustainable development education, and effectiveness of multi-stakeholder partnerships.
SDGs, Targets, and Indicators Table
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 8: Decent Work and Economic Growth | Target 8.9: By 2030, devise and implement policies to promote sustainable tourism that creates jobs and promotes local culture and products. | Indicator 8.9.1: Tourism Direct GDP as a proportion of total GDP and in growth rate. |
| SDG 9: Industry, Innovation, and Infrastructure | Target 9.1: Develop quality, reliable, sustainable, and resilient infrastructure to support economic development and human well-being. | Indicator 9.1.1: Proportion of the rural population who live within 2 km of an all-season road. |
| SDG 12: Responsible Consumption and Production | Target 12.8: Ensure that people everywhere have the relevant information and awareness for sustainable development and lifestyles in harmony with nature. | Indicator 12.8.1: Extent to which (i) global citizenship education and (ii) education for sustainable development (including climate change education) are mainstreamed in (a) national education policies; (b) curricula; (c) teacher education; and (d) student assessment. |
| SDG 17: Partnerships for the Goals | Target 17.16: Enhance the Global Partnership for Sustainable Development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources. | Indicator 17.16.1: Number of countries reporting progress in multi-stakeholder development effectiveness monitoring frameworks that support the achievement of the sustainable development goals. |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: hotelnewsresource.com
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