Activities linked to tourism create the most new companies 

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Activities linked to tourism “significantly boost the growth of new companies” according to Informa D&B barometer figures.

The statistical research company studied the company dynamic during the first half of 2018 and highlighted ‘Accommodation and Catering’ as the second activity area that created the greatest number of new companies in Portugal.

According to Informa D&B, from January to June, a total of 24,415 companies and other organisations were started, +11% on the same period in 2017, with the majority of new companies included in the services sector (7,943).

‘Accommodation and Catering’ was the activity area that registered the second highest growth over the first half of 2018, with a total of 2,939 new companies created, followed by ‘Retail’ with 2,869.

“The rise in new companies is almost right across the board in all activity sectors, with new companies linked to activities related to Tourism providing the main contribution for the rise in this indicator, especially in Lisbon, Porto and Setúbal.

These sectors are responsible for more than 30% of total new companies, over two-third of total growth in company registrations.

The study also added that in ‘Services”, where there were 817 new companies, +11.5% on the same period last year, there was a strong “contribution from tour activity and travel agents.” With ‘Accommodation and Catering’ where there were 222 new companies, meaning a rise of 8.2%, the greatest contribution was Accommodation, “in particular furnished accommodation for tourists, especially in the Algarve and the Lisbon district, despite catering still representing over two-thirds of the total for new companies in the sector.”