Portugal’s Tourism Boom 2023, All time Record! A Catalyst for Real Estate Growth

In an unprecedented surge, Portugal’s tourism sector achieved new heights in 2023, setting a record with more than 30 million guests—a 10% increase from its previously best year in 2019. This growth translated into a revenue spike of 25 billion euros, marking a significant 37% increase over 2019 and 18.5% over 2022. This data was sourced from the official website of the Portuguese Government, specifically from a news release on www.portugal.gov.pt that provided an official statement from the Secretary of State for Tourism, Trade and Services, Nuno Fazenda, who declared 2023 as the best year ever in the history of tourism in Portugal. The country, known for its rich history, stunning landscapes, and vibrant culture, has become a beacon for tourists worldwide, drawing particularly large numbers from Britain, Spain, and the United States.

A notable correlation has emerged between the influx of tourists and the real estate market

The profound impact of this tourism boom extends beyond temporary stays and sightseeing. A notable correlation has emerged between the influx of tourists and the real estate market, particularly in high-end properties. Our CEO Diogo Costa reported a steady and robust demand from foreign clients looking to purchase luxury properties in Lisbon, Portugal’s capital, and largest city.

This trend isn’t coincidental. The rise in tourism has sparked a renewed interest in the Portuguese lifestyle, prompting many visitors to consider long-term investments in the country. Lisbon, with its unique blend of traditional charm and modern amenities, has become a sought-after location for property investment. The city’s real estate market has seen a surge in demand, particularly for high-end properties, which are often seen as both a luxury purchase and a sound investment.

A&D Consulting specializes in catering to foreign clients, offering a range of services dedicated in property hunting

AED Consulting’s experience mirrors this trend. The firm specializes in catering to foreign clients, offering a range of services dedicated in property hunting. Their clientele often comprises investment funds who seeks for hotel investments and tourists who, enamored by Portugal’s allure, seek to establish a more permanent presence in the country. The correlation between tourism and property sales is supported by data and market analysis, suggesting that as Portugal’s tourism sector grows, so does the interest in its real estate market.

The Portuguese government’s approach to sustaining this growth in a responsible and socially conscious manner has also played a role. By ensuring that the expansion of tourism doesn’t negatively impact the country’s infrastructure or long-term immigration policies, Portugal has created a stable and inviting environment for potential property investors.

Looking ahead, the outlook for Portugal’s tourism and real estate sectors remains optimistic. As Portugal continues to gain global attention, the interplay between its burgeoning tourism sector and the real estate market, particularly in high-end properties, is expected to strengthen further. AED Consulting is poised to play a crucial role in this dynamic, helping to bridge the gap between temporary visits and permanent investments, and contributing to the country’s economic growth.

This synergy between tourism and real estate investment in Portugal underscores a broader trend in the global market. It highlights the potential for tourism not just as a driver of immediate economic benefits but also as a catalyst for long-term investment and growth in related sectors. As Portugal looks to the future, its ability to balance and harness these interconnected industries will be key to its continued success on the global stage.

Do you want to move to Portugal? Talk with us, we certainly can help you and have the right property for you

Share article


Rua Barata Salgueiro 30, 7ºF 1250-044 Lisbon


(+351) 969 926 426



Compare listings