Portugal's thriving tourism industry has become one of the main driving forces of the country's economy, with tourism revenue accounting for a significant portion of GDP. According to statistics from the Bank of Portugal, in the first half of 2019, the tourism sector generated 33 million euros in daily revenue for Portugal, equating to 1.4 million euros per hour. Recent data released by the Bank of Portugal indicates that tourism revenue in the first half of the year increased by 8.8%, amounting to approximately 1.5 billion euros.
The Deputy Minister of Economy of Portugal pointed out that the newly released tourism data signifies a positive momentum in the development of the country's tourism industry. Looking back, Portugal's tourism revenue has seen continuous growth for seven years, with foreign exchange earnings from tourism reaching 16.6 billion euros in 2018. Meanwhile, the World Travel & Tourism Council (WTTC), representing the private sector of the travel and tourism industry, praised the Portuguese government for recognizing the importance of the tourism sector to the overall economy and prioritizing it. The tourism industry grew by 8.1% in 2018, contributing 38.4 billion euros (approximately 45.5 billion USD) to the country's economy. Research conducted by WTTC indicates that in 2018, one out of every five euros in Portugal came from the tourism sector. Furthermore, the research shows that the growth rate of Portugal's tourism industry in 2018 (9.6%) was among the highest in EU countries and significantly exceeded the EU average of 3.1%.
As one of Europe's top travel destinations, Portugal frequently appears on various outbound travel lists. In the prestigious World Travel Awards, Portugal has been awarded "Best World Destination" and "Best European Destination" for three consecutive years. Due to its geographical location and seasonal climate, Portugal enjoys a steady influx of tourists year-round, with high occupancy rates in hotels, inns, and resorts, especially during peak tourist seasons.
The rapid development of Portugal's tourism industry is bound to drive significant economic growth, particularly evident in the real estate market. The Portugal Golden Residence Permit Program, as an investment immigration project through property purchase, has gained popularity among Chinese investors due to its stable policies, simple application requirements, and the ability for one person to apply for residency for the entire family across three generations.
Through the Portugal Golden Residence Permit Program, investors can purchase property starting from 350,000 euros, allowing the entire family across three generations to apply for the Portugal Golden Residence Permit visa. This grants access to Portugal's generous benefits in education, healthcare, and retirement, as well as the ability to travel freely within the Schengen Area. Additionally, according to the amendment to the Portuguese Nationality Law issued by the Portuguese government in July 2018, holders of the Portugal Golden Residence Permit visa who reside in Portugal for a cumulative period of time over five years and pass the A2 level Portuguese language exam will be eligible to apply for Portuguese citizenship, receiving a Portuguese EU passport and enjoying the benefits of EU citizenship.
As a member of the European Union, Portugal's passport has consistently ranked high in global passport indexes in recent years. Holding a Portuguese passport not only allows visa-free or visa-on-arrival access to 185 countries and regions but also enables free movement, work, and residence across 32 European countries, including all 28 EU member states (such as the United Kingdom, Germany, Austria, Italy, France, Finland, etc.) and three members of the European Economic Area (Norway, Iceland, Liechtenstein), as well as Switzerland, enjoying the generous benefits of EU citizenship, 1=32!!!
Choose WorldWay Immigration for your Portugal investment immigration needs, making your immigration journey easier! As one of the earliest immigration agencies to promote the Portugal Golden Residence Permit Program in China, WorldWay Immigration partnered with the Portuguese Embassy in China in April 2013 to introduce the Portugal Golden Residence Permit Program to China, embarking on an exciting journey of investment immigration to Portugal.
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