According to the National Statistics Institute (INE): “In the first nine months of the year, income grew by 33.3 percent in total and 35.3 percent relative to accommodations”, to a total of €1,629,900 and €1,244,700 million, respectively.
However, when compared to the same period in 2019, before the covid-19 pandemic, total income decreased by 53 percent and income from accommodations decreased by 52.7 percent.
The Algarve concentrated 36 percent of total income and 36.1 percent of income from accommodations in September, followed by the Lisbon Metropolitan Area (20.2 percent and 21.1 percent, in the same order) and the North (13.6 percent and 13.9 percent, respectively).
In tourist accommodation establishments as a whole, the average income per available room (RevPAR) stood at €47.9 in September, having increased by 58.2 percent, when in September 2019 the RevPAR had been €66.3.
The highest RevPAR values were registered in Algarve (€63.6), Madeira (€58.9) and Azores (€53.8).
In tourist accommodation establishments as a whole, the average income per occupied room (ADR) reached €92 in September, having grown by 12.4 percent, when in September 2019, the ADR had been €97.2.
Finally, the net bed occupancy rate in tourist accommodation establishments (44.0 percent) increased 13.2 percentage points in September (+14.7 points in August).
In September, the highest bed occupancy rates were registered in Madeira (66.7 percent), Azores (54.1 percent) and the Algarve (48.9 percent).
Time for the government to stop the crazy and unfair tax break given to the rich that rent out their properties.
Why should they only have to pay tax on 25% of of their rental income?
The Algarve,Lisbon and Porto to name a few, as a result,have no stable long term rental market.
This is decimating local communities by effectively turning them into hotel rooms with short term visitors.It is also affecting businesses that can't hire staff because they can't find suitable accomodation nearby.
Time the government actually looked after the people that matter.
By James from Algarve on 18 Nov 2021, 07:26
Thanks to Covid. ????????????????
By J from Lisbon on 18 Nov 2021, 07:55
James is absolutely right - Portuguese governments have been turning Portugal into a retirement farm , focus only on short term tourism and those Golden Visas. Apparently not even Covid has taught them the lesson that in order for a country to develop sustainably, it needs more than tourism to avoid bankruptcy. Meanwhile the majority of Portuguese people cannot find adequate housing, there continues to be no urban planning and green spaces are only for those wealthy enough to afford them. With so much marketing on how wonderful the climate is, this is a real shame. Green urban spaces improve quality of life for everyone.
By K from Algarve on 18 Nov 2021, 13:42