Tourism revenues soar 12.2% to August

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Revenues from tourism reached accumulated €11.1Bn to August this year, a 12.2% rise on the same period in 2017.

By August revenues from tourism corresponding to exports under the headings “Travel & Tourism” and which represent expenditure by foreign tourists in Portugal, climbed by €192 million on the €2Bn million euros registered for the same month in 2017.

Tourism imports corresponding to expenditure by Portuguese tourists overseas stood at €449.9 million for August 2017 which translated into a positive balance of €1.746,09 under the heading Travel and Tourism in the 8th month of the year.

Positive performance in August was decisive for tourism revenues which exceeded an accumulated amount of €11Bn from January to August, an amount that reflected a 12.2% increase on the €9.9Bn accounted for the same period last year.

In the case of imports, to August that amount stood at €3Bn which corresponds to a 8.1% increase compared to the 2.9Bn for the same period last year.

“Compared to the same period of 2017, the balance of goods and services showed a distinct evolution. The balance of goods deficit increased €1.5Bn while the surplus from the balance of services grew €853 million” states the Bank of Portugal.